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Gold/Mining/Energy : 2000 millennium problem: investment opportunities -- Ignore unavailable to you. Want to Upgrade?

To: BM who wrote (114)	3/6/1998 9:09:00 PM
From: BM	Read Replies (1) \| Respond to of 222

Cognicase acquires SHL Systemhouse unit; sub-contracts March 6, 1998 Cognicase Acquires SHL Systemhouse Montreal-Based Year 2000 Code Conversion Resources - Enters Major Subcontracting Agreement MONTREAL, QUEBEC--COGNICASE Inc. and SHL Systemhouse announced today a transaction that will see COGNICASE acquire the Montreal- based Year 2000 code conversion resources of Systemhouse. Systemhouse will also subcontract to COGNICASE on-going and future Y2000 business opportunities. The relationship between the two companies was established in 1996, when Systemhouse purchased a minority interest in COGNICASE to support its Year 2000-related software conversions using COGNICASE automated toolsets and processes under license. The current transaction will allow Systemhouse to focus more fully on high-end consultative Year 2000 activities while leveraging the industry- leading toolset and expertise of COGNICASE. "This acquisition is in line with our strategy to capitalize fully on Year 2000 conversion opportunities and to augment our critical mass of resources," said Ronald Brisebois, President and Chief Executive Officer of COGNICASE. "The addition of these resources to our existing conversion factory increases our capacity as Year 2000-related work accelerates." James C. Madden, Chief Financial Officer of SHL Systemhouse, said the transaction marks a new step in the relationship between the two companies. "COGNICASE will now be a preferred supplier of subcontracting services to SHL Systemhouse for Year 2000-related conversions." Systemhouse holds 18.5 percent of the outstanding common shares of COGNICASE. SHL Systemhouse, MCI's global information technology company, is the industry's only single source provider of convergence products and services that address businesses' total networking, communications, and consulting needs. With 120 offices and approximately 8,500 professionals worldwide, Systemhouse is preparing major corporate, mid-sized and public sector clients in North and South America, Europe and Asia with enterprise solutions for the new millennium. COGNICASE, through its wholly-owned subsidiaries Icotech and Hexagon, is an integrated provider of value-added software solutions and consulting services, differentiated by its industry- leading toolsets and processes for automated systems modernization and platform migration. The Company's flagship product is COGNI-2000, a comprehensive, flexible software toolset for Year 2000 compliance introduced in 1994.