The ministère de l'Éducation du Québec and CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB;) announced today the signing of a 19-month IT integration contract valued at CDN$10 million for the rebuilding of the government's student financial aid system. This new fully Web-based system, called CONTACT, will be built by the spring of 2005 and will greatly improve the quality and speed for which the students access loans and bursaries.
Every year the Quebec government processes a volume of CDN$4 billion in student financial aid in partnership with over 393 educational institutions across the province. Financial institutions are also partners and process their data via the government's system currently known as PRACTIC. A CGI team of 80 professionals will be dedicated to this highly strategic project.
"We want to be closer to our students' needs and by delivering information and financial aid more quickly through a streamlined, robust system we are greatly enhancing the quality of our on-line services which is our ultimate goal," said Claude Provencher, assistant deputy minister of the ministère de l'Éducation du Québec.
Michael Roach, CGI's president and chief operating officer added: "Having maintained the governments current system over the last four years, our team is well versed on our clients' specific needs and the complexity of having one system, which has links to all the major financial institutions, offering student financial aid."
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:
The ministère de l'Éducation du Québec
Claude Provencher
(418) 646-5313
CGI
Investor relations
Julie Creed
(312) 201-4803
Ronald White
(514) 841-3230
Media relations
Eileen Murphy
(514) 841-3430
