CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB;) today announced the signing of four multi-year contract renewals valued at a total of CDN$48.6 million. Four major Canadian financial institutions have chosen to continue their partnership with CGI for its banking solutions which include MPower, StarBase, Starquote PRO and CORE. These solutions will be used by clients Canada-wide, supporting their institutional and investor services for their wealth management businesses.
Michael Roach, president and chief operating officer of CGI said: "We are very pleased to be renewing our ties with these clients. Our solutions provide robust investment and market data platforms, which are complimented with strong service delivery teams committed to our clients. At CGI we are well aware of the importance of delivering quality services on time and work with our clients to better equip them with the tools needed to excel and win in their marketplace."
Supplying over 18,000 desktops with over 50 million market news items and quotes per day, CGI is one of Canada's largest news & information disseminators to the retail and institutional financial services industry providing solutions to 70% of the IDA (Investment Dealers Association) member firms. CGI's technology also manages over 9 million fund accounts conducting 50 million transactions annually. IT solutions and services are provided to over 300 financial institutions, switching services through some 20,000 point of sale devices including over 1,200 automatic banking machines.
Since 1985, MPower has been CGI's flagship multi-currency portfolio management solution used daily by wealth management professionals which integrates complete order management processing including trading, modeling, compliance and performance measurement with a comprehensive back office including real-time general ledger capabilities.
StarBase, offered on an Application Service Provider (ASP) basis, provides a complete solution of investment funds record keeping, customer support and business recovery services within a single, cost-effective business solution.
Starquote PRO is a customizable interface, operating in a Windows Active-X desktop that hosts multiple information windows to form a comprehensive profile of the financial markets. The solution allows for the integration of Real-time Quotes, Dynamic MarketBooks, News and TrendAlerts on one screen, providing a powerful analytical application. Starquote PRO can be delivered over CGI's dedicated, customer owned or Internet networks.
The CORE Wealth Management Solution is a state of the art record keeping system for banking-based wealth management firms. CORE provides a customer centric view of all holdings, support for all investment plan types such as RRIF, RRSP and RESP, as well as industry leading fixed term product (GIC) manufacturing, issuing and administration.
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
