CGI Federal, a wholly-owned U.S. operating subsidiary of CGI Group Inc. (NYSE: GIB ; TSX: GIB.A), today announced the signing of contract renewals estimated at US$58.1 million through the end of 2010 for the Section 8 Performance Based Contract Administration (PBCA) program. CGI administers U.S. Department of Housing and Urban Development (HUD) multi-family housing programs in California, Florida, New York, Ohio and Washington, DC, in conjunction with its state and local housing agency partners.
CGI is the largest PBCA administrator in the U.S. overseeing 25 percent of the program nationally. Administering more than 250,000 housing units, CGI makes more than $2 billion in Housing Assistance Payments annually on behalf of the federal government. CGI Federal is also a leading management consultant for Public Housing Authorities and has developed innovative and money-saving tools for Housing Quality Standards (HQS) Inspections scheduling and performance.
"CGI is proud to have earned the trust of its PBCA partners over the last ten years," said CGI Federal Vice-President, Marybeth Carragher. "We maintain our strong commitment to working together with HUD and our local partners to enhance the financial viability and to maintain the integrity of the Section 8 program."
About CGI Federal
CGI Federal (www.cgi.com/usfederal) is a wholly-owned U.S. operating subsidiary of CGI Group Inc., dedicated to providing effective IT solutions for federal government agencies by combining over 30 years of government experience and technology skills. Founded in 1976, CGI is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 26,000 professionals in over 100 offices across 16 countries. CGI provides end-to-end IT and business process services to clients worldwide from offices in the United States, Canada, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annualized revenue run rate is currently $3.8 billion and as at June 30, 2009, its order backlog was $11.8 billion. CGI's shares are listed on the NYSE (GIB) and the TSX (GIB.A) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and 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, and are "forward-looking information" within the meaning of sections 138.3 and following of the Ontario Securities Act, as amended. These statements and this information represent CGI Group Inc.'s ("CGI") 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 or forward-looking information. These factors include and are not restricted to the timing and size of new contracts, acquisitions and other corporate developments; the ability to attract and retain qualified members; 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's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in CGI's annual and quarterly MD&A and Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), 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 or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
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Vice-President, Global Communications and Investor Relations
Vice-President, US Communications