BP Amoco Signs $600 Million Contract With Exult, Inc. for HR Services Delivery Transformation Through 'E-enabled HR'.

LONDON and IRVINE, Calif.--(BUSINESS WIRE)--Dec. 9, 1999--

BP Amoco, one of the world's largest companies and a leading provider of energy and petrochemicals, and Exult, Inc., an HR business process management services provider for Global 500 companies, today announced they have signed a global $600 million contract.

Under the terms of the five-year deal, Exult will create and operate for BP Amoco a comprehensive global HR services organization that will transform the way in which HR administrative, transactional and information services are provided to employees and management, using the latest web-enabled technologies and processes. The agreement is the largest deal of its type ever signed.

Nick Starritt, BP Amoco's Group Vice President, HR, said, "After an extensive worldwide search for a partner to help us transform the relationship between our employees and the company, we decided Exult had the most compelling vision and experienced management team, as well as a deep understanding of how current technology could improve our HR services."

The unified delivery of BP Amoco's internal HR operations, transactions and administration will first be implemented in BP Amoco locations in the United States and the United Kingdom, beginning in mid-2000. It is envisaged that the initiative will then be expanded to cover continental Europe, Canada, and other operating locations, uniting all of BP Amoco's worldwide operations under one global integrated HR services entity. When completed, all BP Amoco employees and managers around the world will have web-enabled transparent, instant and simple access to the work/life event information they require.

Under Exult's unique "e-HR" services delivery model, the firm will assume management, ownership and accountability for BP Amoco's global HR administrative and transactional processes. This will include the administrative elements of: compensation, benefits, payroll, organizational development, performance management, training, employee development, recruiting/staffing/resourcing, expatriate administration, domestic relocation, employee relations, policy and legal compliance, employee data and record management, and vendor sourcing. These processes will be managed in Exult's two client service centers, located in the United Kingdom and United States. HR policy, strategy and professional resources will be retained within BP Amoco.

One of the cornerstones of Exult's services delivery model for BP Amoco is "myHR", an employee and manager self-service web `portal' that allows the direct management of their daily work, employment related experiences and career opportunities.

According to Starritt, "Through Exult's web-enablement of service delivery and its implementation of standardized HR services, we are gaining an holistic, practical and truly global HR services delivery solution that I firmly believe will allow us to usher in a new era of HR excellence."

Jim Madden, Exult's CEO, said, "Exult's approach to HR business process service delivery enables us to provide heretofore unattainable levels of HR service excellence on a global basis. We are proud to be supporting BP Amoco's HR needs through our deep HR process knowledge, our unique global service capabilities, our web/Internet expertise, our client service center excellence, and our highly experienced management team."

Said Scott Figge, Exult's Vice President of Business Development, "We believe BP Amoco's decision to partner with Exult for comprehensive management of its HR services delivery is based on a number of factors: our commitment to make the necessary financial investments in client delivery and infrastructure; our global delivery capabilities; our possession of highly experienced HR and operations personnel; and our business model, that allows for returns from continuous improvement, not management fees."

Cynthia Doyle, senior analyst for market research firm IDC, said, "The BP Amoco/Exult contract signals the emergence of a truly comprehensive HR BPO model, not only in the breadth of services offered, but also in that Exult is the first service provider to tackle the global HR marketplace." Continued Doyle, "Exult is partnering to provide certain HR services in the BP Amoco deal, a good example that a new player can win a comprehensive global contract and partner with "best-in-class" providers for the full scope of services. Through its service offerings and partnerships, Exult is well positioned to meet the growing demand for comprehensive HR BPO services, as opposed to niche players who offer only payroll or benefits administration services."

According to a recent 1999 report by market research firm GartnerGroup/DataQuest, the worldwide market for integrated HR business process management services delivery is forecast to exceed $12 billion by 2003, an astounding 88 percent compound growth rate over 1998 figures.

Exult is funded by a $50 million commitment from General Atlantic Partners, LLC. "GA Partners' investment in Exult reflects our strong belief in the potential of business process management to change the way in which large-scale companies are managed, and our corresponding commitment to the superb management team, processes and technology the company has built," said Steven A. Denning, managing partner. "The BP Amoco contract announced today powerfully underscores the efficacy of Exult's services-delivery model, which provides Global 500 corporations with a superior means of managing the HR function through the use of large-scale, web-enabled business process management."

About BP Amoco

BP Amoco is one of the world's largest companies and a leader in energy and petrochemicals, with 1998 revenues of over $83 billion. The company's main activities are exploration and production of crude oil and natural gas; refining, marketing, gas marketing, supply and transportation; manufacturing and marketing of petrochemicals, and a growing activity in solar power generation. BP Amoco has well-established operations in Europe, North and South America, Australasia and parts of Africa. More information about the company can be found at: www.bpamoco.com.

About Exult, Inc.

Headquartered in Irvine, California, Exult is a company focused on providing Global 500 corporations with the complete spectrum of business process outsourcing (BPO) services for the human resources management (HRM) function and affinity shared services processes. Exult's mission is to help its clients achieve service level improvements, cost savings and tangible business benefits by assuming complete management, ownership and accountability for the entire HRM process. Its services include design, implementation, operation, management and administration of all key HR functions and e-enabled HR processes. This comprehensive approach to HR management is unrivaled in the industry. For more information, please contact Exult at 949.250.8002 or visit the Exult web site at http://www.exult.net.

About General Atlantic Partners

General Atlantic Partners, LLC, with more than $5 billion in capital under management, focuses exclusively on global information-technology and Internet-enabled businesses. GA Partners has invested in over 70 companies, including E

rade Group,
Priceline.com, Proxicom, Baan Company, LHS Group and Compuware. The
firm is unique in its global focus, its long-term approach to
investments, and its commitment to provide sustained assistance aimed
at creating maximum value. GA Partners has offices in Greenwich, New
York, Reston, London, Singapore, Tokyo and Sao Paulo.

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