Year 2000 Contracts Worth $3.7 Million in Initial Phase
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: THE CGI GROUP INC.
TSE;ME SYMBOL: GIB.A
JANUARY 28, 1997
Conversion of Information Systems for the Year 2000 - CGI
Announces a Series of Contracts Worth $3.7 Million in
Initial Phase
MONTREAL, QUEBEC--The CGI Group announced today it has been
awarded eleven (11) new contracts with a total value of $3.7
million, involving the conversion of information systems for the
year 2000. In a certain number of these contracts, CGI will
perform the conversion work, while in others it will conduct a
preliminary needs analysis, which may lead to significant
additional contracts.
The following organizations are among those that have awarded CGI
contracts involving the conversion of systems: Standard Life,
Quebec Telephone, National Bank, Royal Bank and CIBC. In
addition, CGI is currently completing a needs analysis for the
MinistŠre des ressources naturelles du Quebec, the Government of
Nova Scotia, Alcan (SECAL), the city of Sherbrooke, Veterans
Affairs Canada and Canada Post. These organizations are new
additions to an impressive list of clients that already deal with
CGI on year 2000 issues.
"This series of new contracts with prestigious clients clearly
demonstrates that the market recognizes the value of our business
solutions and our unique capabilities in the area of year 2000
conversion," said Jean Brassard, CGI's President and Chief
Operating Officer. "We have specialized teams of professionals, a
rigorous methodology and high performance tools, exclusive to CGI,
that make our services very competitive in that area."
It is widely recognized that many computers are unable to handle
date related data beyond the year 1999, which could result in
large-scale failures in the year 2000. Specialists believe that
on a worldwide scale, organizations will spend approximately
US$600 billion over the next three years to correct this
situation.
CGI is the largest Canadian-owned, publicly-traded consulting firm
in information technology, systems integration and outsourcing.
Its 1,900 high-level professionals offer complete business
solutions to public and private sector organizations in Canada and
the Northeastern United States.
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