-- CIBER Announces Plan to Re-Purchase Stock --
ENGLEWOOD, Colo.-- --June 22, 1999--CIBER, INC.
("CIBER") (NYSE: CBR) ANNOUNCED TODAY THAT THE COMPANY'S BOARD OF
DIRECTORS HAS AUTHORIZED THE RE-PURCHASE OF UP TO 10% OF CIBER'S
OUTSTANDING COMMON STOCK.
THE COMPANY PLANS TO IMMEDIATELY BEGIN PURCHASING STOCK ON THE
OPEN MARKET, THROUGH NEGOTIATED OR BLOCK TRANSACTIONS, AND COULD
CONTINUE TO DO SO FROM TIME TO TIME BASED UPON MARKET AND BUSINESS
CONDITIONS. IN ADDITION, THE BOARD AUTHORIZED MANAGEMENT TO COMMENCE A
PROGRAM TO RE-PURCHASE SHARES TO SATISFY THE NEEDS OF ITS VARIOUS
EMPLOYEE BENEFIT PLANS ON AN ONGOING BASIS. CIBER HAS APPROXIMATELY 59
MILLION SHARES OF COMMON STOCK OUTSTANDING. J.P. MORGAN WILL BE THE
AGENT FOR THIS PROGRAM.
"We find ourselves at a cross-road where, albeit calendar 1999
has had slowing growth for CIBER and our industry sector, we have a
high degree of confidence in CIBER's future and believe this
expectation is not sufficiently reflected in our stock price," stated
Mac Slingerlend, CIBER's CEO. "Re-purchasing shares allows us to
demonstrate this confidence. We believe we can be the next $1 billion,
global systems integrator. With the arrival of Paul Rudolph as COO, we
further believe we can execute a more E-Business centric focus and
leading-edge business model," Mr. Slingerlend continued.
AS A RESULT OF THE RE-PURCHASE PROGRAM, THE PREVIOUSLY ANNOUNCED
BUSINESS COMBINATIONS OF YORK ASSOCIATES, INTEGRATION SOFTWARE
CONSULTANTS AND BUSINESS IMPACT SYSTEMS, WHICH WERE TO BE TREATED AS
POOLINGS OF INTERESTS, WILL NOW BE TREATED AS PURCHASE TRANSACTIONS.
CIBER, Inc. is a premier provider of system integration
consulting services. Employing 6,700+ employees located in over 45
major cities in 25 states plus Canada, CIBER offers leveraged
information technology integration solutions in five principal areas:
management consulting, aligning business/IT solutions (including
E-Business, data warehousing and middleware integration), enterprise
applications solutions (EAS/ERP) implementation and outsourcing
services, enterprise integration and network services consulting, and
professional services.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Forward-looking statements involve risks and
uncertainties that could cause actual results to vary materially from
such statements. Please refer to discussions of certain of these risks
and uncertainties in the Company's Annual Reports, 10-Ks, 10-Qs and
other Securities and Exchange Commission filings.
--30--SH/dx*
CONTACT: CIBER, Inc., Englewood
Kara Kennedy, Shareholder Relations, 303/220-0100
www.ciber.com
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