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FOR FURTHER INFORMATION PLEASE CONTACT:
COGNICASE Inc.
Marc Lamy
Chief Financial Officer
(514) 866-6161
lamm@cognicase.ca
Web site: www.cognicase.com or
COGNICASE Inc.
Ronald Brisebois
President and Chief Executive Officer
(514) 866-6161
brir@cognicase.ca
Web site: www.cognicase.com
Previous COGNICASE press releases are available at:
cdn-news.com
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: COGNICASE INC.
TSE SYMBOL: COG
NASDAQ SYMBOL: COGIF
JANUARY 21, 1999
COGNICASE Announces 10-Year Outsourcing Contract and
Development of a Transaction Enabled Web Site in
Financial Services Industry
MONTREAL, QUEBEC, CANADA--COGNICASE Inc. (NASDAQ: COGIF) announces
a long-term contract with an aggregate value estimated at CDN$5
million to manage information technology (IT) services for Groupe
Option Retraite inc. and to develop a transaction enabled web site
in the brokerage business.
Under the 10-year outsourcing agreement signed today, COGNICASE
will provide IT consulting services, network management,
application development and maintenance, web site development and
statement processing services. Furthermore, applications developed
jointly by the two partners will be marketed by COGNICASE to third
parties in the financial services industry.
"We are pleased to be associated with an experienced IT partner
who will apply leading-edge technology to continuously improve our
customer service and develop new financial products" said Richard
Dorval, President of Groupe Option Retraite.
Ronald Brisebois, President and Chief Executive Officer of
COGNICASE stated: "This agreement is a further demonstration of
our outsourcing capabilities and ability to work in partnership
with customers to ensure that their IT investment is fully aligned
with their business objectives."
Groupe Option Retraite is a fully-licensed broker offering a
complete line of financial services including RRSPs, financial
planning and life insurance. The firm has 168 employees in 9
offices in Quebec and 1 in Ontario. Groupe Option Retraite is a
member of the Toronto Stock Exchange, Montreal Exchange and the
Canadian Investor Protection Fund.
Founded in 1991, COGNICASE is an international provider of value-
added information technology consulting services, solutions and
software. The Company offers a full range of IT solutions
including outsourcing, ERP implementation, application
development, WEB/E-commerce development, network architecture and
management and application development software for client/server
and Web-based application, as well as software for automated
software conversion and platform migration and IT out sourcing.
Through automation, reusability, and high quality IT resources,
COGNICASE delivers reliable, cost-effective and timely solutions
that generate added value for customers, employees, and
shareholders. COGNICASE has more than 1,600 employees who serve
customers from business offices in 15 cities in North America,
Europe and Australia.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
(US), including statements regarding the Company's estimates of
the value of the contract with Groupe Option Retraite, which
involve risks and uncertainties. As a result of a number of
factors, including factors that the Company may not currently
foresee. The Company's actual results could differ materially from
those set forth in the forward-looking statements, including the
risk of early termination of the contract and the ability of the
Company and Groupe Option Retraite to agree on additional services
to be rendered. Certain other factors that might cause the
Company's actual results to differ materially from the
forward-looking statements include the Company's ability to (i)
successfully develop additional products and services and new
applications for its existing products and services and otherwise
respond to rapid changes in technology, (ii) successfully compete
in its industry for customers and developers and other personnel
with expertise in information technology, (iii) successfully
identify and consummate acquisitions on favorable terms and
integrate acquired businesses, and (iv) successfully manage its
growth and changing business, as well as those factors set forth
under the heading "Risk Factors" in its Final Prospectus dated
October 2, 1997 as filed with the Securities and Exchange
Commission.
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