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Gold/Mining/Energy : LGS Group Inc. Y/2000 -- Ignore unavailable to you. Want to Upgrade?

To: Gilbert Drapeau who wrote (148)	7/19/1999 9:54:00 AM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 169

LGS Selected by Londex as Preferred Global Integration Partner JULY 19, 1999 MONTREAL, QUEBEC--LGS Group Inc. is pleased to announce that it has been selected by Londex International Limited as its preferred global integration partner for its Opex trade and document exchange system for the derivatives trading market. With this partnership, LGS' ecommerce+ business unit will deliver services and solutions to several of the world's largest banks. LGS' responsibility will be to integrate the Opex application progamming interfaces into the banking community back-office systems world wide. Clients will include many of the world's largest banks, including derivative specialists within general bank institutions. The amount of the agreement between Londex, a subsidiary of SNS/Assure Corp., was not disclosed. Derivatives are complex transactions which require significant amounts of documentation to be exchanged between the counterparts of a trade. The Londex service will substantially streamline the paper and people-intensive process of managing and confirming trades. LGS' integration work will be carried out in London and in New York initially. A second phase will follow in other geographical parts of the world including Canada. Commenting on this contract, LGS President Raymond Lafontaine said that this project positions the company into the application of cutting-edge technology required for global trading markets, and leverages LGS expertise in Internet and component software technologies. This initiative continues LGS' expansion into international and financial services markets. Jim McGinley, Executive Vice President/General Manager SNS/Assure Corp. stated that "LGS plays an important role in helping our customers quickly realize the benefits of Londex". Londex was established to provide value added WAN (Wide Area Network) services to the financial markets. It has now set up global messaging services from its centre in London, England. The first service enables the exchange of secure trade messages and automated matching of derivative trade details. This reduces the time and cost involved in agreeing trades and reconciling difference, and reduces the time exposed to risk. In addition, Londex provides a day by day Collateral Reconciliation Service.This considerably enhances the overall control of risk management. SNS/Assure Corp. is a leading Toronto-based provider of electronic commerce products and value-added services primarily to the financial services, health care, transportation, logistics, retail and manufacturing industries. More information on SNS/Assure is available on their website at www.sns.ca ecommerce+ A business unit of LGS Group Inc., ecommerce+ provides secure Internet and telephony solutions that help organizations better manage their interactions with clients, suppliers and partners. It brings together world-class expertise in security, applied telephony and Internet. LGS Group Inc. (LGSA at NASDAQ, LGS.A at ME) is one of Canada's largest information technology consulting firms specializing in management and systems integration. With annual sales of $230 million, LGS employs more than 2,200 professionals in 20 offices in Canada, the United States and Europe. The company is active in most areas of the private and public sectors. This release may contain forward-looking statements that involve risks and uncertainties which might cause the actual results to differ materially from those projected. Potential risks and uncertainties include the ability to procure, properly price, retain, and successfully complete projects, the availability of technical personnel, and competition. These risks and uncertainties are discussed under the heading "Risk Management " in the Company's Annual Report.