Co-operators General , part of The Co-operators group of financial services companies, and CGI Group Inc. (TSX: GIB.A; NYSE: GIB) (CGI) today announced the signing of a five-year contract renewal valued at CDN$85 million. CGI will continue to provide data center services which include help desk support, application hosting and software distribution services. CGI has served Co-operators General Insurance Company since 1997 and provides a multitude of services and solutions to several companies within The Co-operators group, including The Sovereign General, l'Union Canadienne, HB Group Insurance Management Ltd. and Co-operators Life Insurance Company.
"Maintaining a stable environment that capitalizes on the benefits that new technology offers is vital to advancing our strategy and to our long-term success. The renewal of this relationship represents a commitment by both organizations to work collaboratively in the spirit of partnership to achieve our mutual objectives," said Jay Woo, vice-president, information technology with Co-operators General.
Michael Roach, CGI's president and chief operating officer added: "Our long-term relationship with Co-operators General is a testament of our ability to be flexible to their evolving needs and to blend our deep knowledge of the financial services sector with tailor-made technology services and solutions. We are very proud of our ability to continually deliver on a variety of highly strategic projects for this group of companies."
About The Co-operators
The Co-operators is a group of Canadian companies which focuses on home, auto, and life insurance, investment products, and property management and development services. The Co-operators Group is owned by 28 Canadian co-operatives and credit unions and is well known for its philanthropy and community involvement.
About CGI
Founded in 1976, CGI is among the largest independent information technology and business process services firms in North America. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in India and Canada. CGI's annualized revenue run rate is currently CDN$3.8 billion (US$2.8 billion) and at June 30, 2004, CGI's order backlog was CDN$13.2 billion (US$9.8 billion). CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) 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. 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
Jane Watson, vice-president, investor relations
(514) 841-3200 or (416) 945-3616
Ronald White, director, investor relations
(514) 841-3230
Media relations
Eileen Murphy, director, media relations
(514) 841-3430
