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

To: Gilbert Drapeau who wrote (159)	12/20/1999 9:15:00 AM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 169

LGS Awarded GSA Information Technology Services Schedule Contract DECEMBER 20, 1999 MONTREAL, QUEBEC--LGS Group Inc. (LGSA at NASDAQ) is pleased to announce that its U.S. subsidiary, LGS Corporation, was recently awarded an Information Technology Services Worldwide Schedule contract by the General Services Administration (GSA) in Washington. This is a 5-year contract, considered the preferred U.S. government procurement vehicle, which will enable LGS to provide information technology solutions and services to all agencies of the U.S. Federal Government. "This award is a major milestone in the evolution of LGS Group's expansion into the U.S. market," said LGS President Raymond Lafontaine. "Because the Federal Supply Schedule has emerged as the procurement vehicle of choice for U.S. federal procurement, we anticipate this contract will lead to significant revenue growth for LGS Corporation. We are very pleased with the award and our relationship with GSA. Our clients and partners share in our pleasure with the award which will make it easier for them to do business with LGS in Washington." The GSA is one of the three central management agencies in the U.S. Federal Government and acts as the executive agent of the government for multi-agency contracting, procuring more than $40 billion (US) annually. This contract provides a key marketing advantage since the ordering procedures for U.S. civilian agencies and the Department of Defense have been simplified and streamlined. With annual purchases of $5.7 billion on 2,500 contracts, the schedules account for 30 % of all information technology products and services acquired annually by the U.S. government. LGS Group incorporated its US subsidiary in October 1998, and opened its first US office in the spring of 1999. LGS Group Inc. (LGSA at NASDAQ, LGS.A at TSE) is one of Canada's largest information technology consulting firms specializing in management and systems integration. With annual sales of $230 million in the financial year ended March 31, 1999, LGS currently employs more than 2,100 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.