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

To: Gilbert Drapeau who wrote (138)	5/18/1999 9:28:00 AM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 169

LGS Group Announces Acquisition of Bluechip Informatica S.R.L. in Italy MAY 18, 1999 MONTREAL, QUEBEC--LGS Group Inc. (NASDAQ: LGSA) announces that it has agreed to acquire BlueChip Informatica s.r.l., an information technology (IT) services and consulting firm headquartered in Verona, Italy for $3.6 million. This transaction is subject to due diligence. With sales of over $4 million dollars and 40 professionals, BlueChip specializes in providing Customer Relationship Management (CRM) solutions and IT consulting services, with a focus in the pharmaceutical and food industries. This acquisition follows an important contract in Italy, signed recently by LGS with Coop Italia, the largest Italian retailer. At Coop Italia, LGS has started to implement Anabel, a software package developed by LGS that several large European retailers are already using. Several of BlueChip's CRM and systems integration specialists will have the opportunity to work on the Coop Italia mandate, providing local staffing to this important project. "BlueChip, founded in 1994, is a profitable and rapidly growing IT firm holding a strong position in the Italian pharmaceutical and food markets for CRM solutions and services, stated Raymond Lafontaine, President of LGS Group Inc. Not only will this acquisition allow us to better service Coop Italia, it will also broaden our client base and provide an additional component to our European infrastructure in France and in Switzerland." BlueChip's clients in Italy include multinationals like Glaxo Wellcome, Abbott, Monsanto, Pfizer, Boehringer, Sigma Tau, Group Formenti, Plasmon (H.J. Heinz) and Mellin. Marco Bonesini, President of BlueChip, added: "LGS will bring financial and commercial strengths to our development. This will allow us to establish a significant presence in the Italian and European market by providing additional services to our clients, like E-commerce solutions and increase our critical mass to enable us to undertake projects on a much larger scale." LGS Group Inc. (LGSA - NASDAQ, LGS.A - ME) is one of Canada's largest information technology consulting firms specializing in management and systems integration. With annual sales exceeding $200 million, LGS employs more than 2,200 professionals in 20 offices in Canada, the United States and in 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.