CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB;) announced today the successful addition of $100 million to its existing bank credit facilities. National Bank of Canada and Société Générale (Canada) each contributed $50 million. The additional $100 million follows the terms of the credit agreement announced on November 13, 2002. CGI has credit facilities totaling $540 million for the financing of acquisitions and outsourcing contracts, for its operating activity needs as well as for its cash management purposes.
About CGI Founded in 1976, CGI is the fourth largest independent information
technology services firm in North America,
based on its headcount. CGI and its affiliated companies employ 20,000
professionals. CGI's annualised revenue run-rate is currently CDN$2.9 billion
(US$1.9 billion) and at March 31, 2003, CGI's order backlog was CDN$11.2
billion (US$7.6 billion). CGI provides end-to-end IT and business process
services to more than 3,500 clients worldwide from offices in Canada, United
States and Europe. CGI's
shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the
TSX 100 Composite Index as well as the S&P/TSX Canadian Information
Technology and Canadian MidCap Indices. Website: www.cgi.com.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements represent CGI Group Inc.'s intentions, plans, expectations, and beliefs, and are subject to risks, uncertainties, and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements.
These factors include and are not restricted to the timing and size of contracts, acquisitions and other corporate developments; the ability to attract and retain qualified employees; market competition in the rapidly-evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management's Discussion and Analysis (MD&A) in CGI Group Inc.'s Annual Report or Form 40-F filed with the SEC, the Company's Annual Information Form filed with the Canadian securities authorities, as well as assumptions regarding the foregoing. The words "believe", "estimate", "expect", "intend", "anticipate", "foresee", "plan", and similar expressions and variations thereof, identify certain of such forward-looking statements, which speak only as of the date on which they are made. In particular, statements relating to future revenue from outsourcing contracts are forward-looking statements. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
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For more information:
CGI
Investor relations
Julie Creed
Tel: (312) 201-4803
Ronald White
Tel: (514) 841-3230
Media relations
Eileen Murphy
Tel: (514) 841-3430
