CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB;) announced today that several key US-based IT services contracts were signed in its fiscal third quarter, valued at over US$50 million. Clients represented by these wins are all from targeted vertical sectors for which CGI has developed niche skills, including manufacturing, retail and distribution, financial services, energy and healthcare and include flagship clients such as Deutsche Bank, ING Re, Bank of America, Mountain State Blue Cross Blue Shield and several government departments within the State of New York.
"We are excited about expanding the scope of our work with current clients as well as welcoming new clients," said Joe I. Saliba, president USA and India for CGI. "These partnerships further demonstrate our steadfast progress in the US market. Our clients continue to recognize the quality of our services and the flexibility we demonstrate in our approach as well as our ability to deliver on time and on budget," he added.
CGI began operating in the US in 1986, has offices from coast-to-coast and has expanded to become the fourth largest independent information technology services company in North America, based on its headcount. In 1994, CGI became the first information technology consulting company in North America to comply with the internationally recognized ISO quality standard for its project management framework. The company's India-based operations, which are certified CMM Level 5 for software process capability, offer clients an advantageous way of meeting their IT business goals with a proven global delivery model. CGI was recently included in BusinessWeek's Info Tech 100, a ranking for the biggest, fastest-growing, most profitable companies.
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
