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Technology Stocks : Cognicase (COGI, T.COG) - Integrated IT Solutions -- Ignore unavailable to you. Want to Upgrade?

To: Gilbert Drapeau who wrote (662)	9/2/1999 1:36:00 PM
From: Gilbert Drapeau	Read Replies (2) \| Respond to of 843

Cognicase Announces Outsourcing Contracts With Nortel Networks and a new Acquisition SEPTEMBER 2, 1999 MONTREAL, QUEBEC--COGNICASE Inc. (Nasdaq: COGI) announced today that it has been awarded multiple technical support outsourcing contracts valued in excess of CDN$1.5 million from Nortel Networks. The contracts involve the outsourcing of technical support services for several strategic applications implemented globally throughout Nortel. COGNICASE was selected based on its ability to provide highly specialized technical expertise, an exceptional support infrastructure including customized service agreements, and for its in-depth knowledge of Nortel systems. "These new contracts are consistent with our business strategy, which is aimed at providing our customers with solutions that meet their specific needs and allowing them to focus on core business activities," stated Tony Marinelli, Senior Vice-President of COGNICASE. "Outsourcing is a strategic area in which COGNICASE is establishing business partnerships with customers," he added. COGNICASE also announced that it has acquired Groupe P.C.A., one of the largest employment brokers in Canada. P.C.A.'s annual revenues for fiscal 1998 were CDN$20 million. With more than 250 specialized individuals the company is a major supplier of human resources management outsourcing services. In over ten years, P.C.A. has developed solid expertise in the strategic recruitment of IT specialists with large corporations, such as Fortune 500. The company's efficient, superior services are based on a highly effective computerized recruiting system developed using leading edge Internet technology. "COGNICASE's international presence and its enviable list of customers offer P.C.A. unprecedented opportunities for growth," commented Pierre Chartrand, P.C.A.'s Senior Partner. "P.C.A.'s large pool of technical expertise satisfies an increasing need for specialized staffing created by the spectacular growth of COGNICASE," affirmed Ronald Brisebois, President and Chief Executive Officer of COGNICASE. "The specialized recruiting system developed by P.C.A. will be deployed in all of COGNICASE's twenty offices throughout the world," added Mr. Brisebois. COGNICASE, one of the largest Canadian firms specializing in information technology, is an international provider of value-added business solutions and specialized software. With over 2,700 specialists based in some twenty cities throughout North America, Europe and Australia, COGNICASE helps its customers reach their targets and increase their competitiveness. The company offers a full range of global IT solutions including complete and partial outsourcing, Web/E-Commerce development, platform migration, ERP implementation, client/server application development, network architecture and management, and software for automated internet application development and conversion. Website: www.cognicase.com. 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 contracts with Nortel Networks,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. 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 favourable terms and integrate acquired businesses, and (iv) successfully manage its growth and changing business, as well as those factors set forth under the heading "Risks and Uncertainties" in its 1998 annual report.