Business Process Outsourcing Pioneer Joins PricewaterhouseCoopers.

NEW YORK--(BUSINESS WIRE)--November 4, 1999--

PricewaterhouseCoopers, the world's largest professional services organization, today announced that Charles H. Gibbons has joined the firm s Business Process Outsourcing (BPO) group. In his new role, Mr. Gibbons will be responsible for business development in North America.

Mr. Gibbons comes to PricewaterhouseCoopers from The Intellisource(TM) Group, a BPO services provider that he founded in 1995 and where he served as chief executive officer and chairman. Previously, Mr. Gibbons founded and served as chairman, president and chief operating officer of Tascor, an IBM outsourcing joint venture. Under his leadership, the company grew to $140 million in revenue in its first year of operation, with 4,000 employees in over 50 locations nationwide.

Widely regarded an industry pioneer, Mr. Gibbons has worked closely with major corporations, such as Shell Oil, Avon Products, Dun & Bradstreet, Ameritech and Oglethorpe Power to define their core businesses and outsource non-core but essential operations to significantly reduce operating costs and redirect critical resources into core activities.

Raymond Bayley, U.S. BPO leader at PricewaterhouseCoopers, said, "We are pleased to welcome Charlie to the BPO executive team. His leadership ability and distinguished track record in building and running successful BPO enterprises will be instrumental in helping us manage our own fast-growing BPO practice. The impressive depth and range of his industry expertise are grounded in senior management experience from both the provider and client side of the business."

Prior to forming the joint venture, Mr. Gibbons was a senior executive at IBM where he held a number of marketing, management and executive positions with responsibilities that included organizational development and product line management as well as management of all of IBM's U.S. headquarters support operations.

William Batiste, North American leader of the PricewaterhouseCoopers BPO group, said, "Charlie's appointment comes at an exciting time for our group as we quickly build a global reputation in the industry. Our clients deserve to have the best in the business working for them, and Charlie Gibbons is of that caliber."

Peter Bendor Samuel, president of Everest Group, Inc., a leading outsourcing consulting firm, said, "Charlie Gibbons' appointment is another indication of PricewaterhouseCoopers' strong commitment to the BPO marketplace as Charlie is a recognized industry leader."

Business process outsourcing is defined as the long-term contracting of a company's non-core business processes to an outside service provider. According to industry estimates, the global BPO market in 1998 was valued at $80 billion and is expected to more than double in size to $200 billion over the next five years. A leading BPO services provider, PricewaterhouseCoopers is recognized as a market driver in providing "end-to-end" process solutions coordinated on a multi-process basis to help enhance shareholder value.

Through its core process expertise, unique approach to empowering people, ability to build a winning culture for its clients, and world-class service delivery, the PricewaterhouseCoopers Business Process Outsourcing group helps companies manage business processes that support their strategic business plans and build shareholder value.

In recognition of PricewaterhouseCoopers' successful client relationships and global leadership role, InfoServer, the Journal for Strategic Outsourcing Information, awarded the BPO group two prestigious honors - Most Visionary Relationship Award in 1998 followed by Best BPO Relationship Award in 1999. The group also recently won GartnerGroup's Dataquest Business Value Award for market education and thought leadership in the information technology services industry.

PricewaterhouseCoopers has developed a number of thought leadership initiatives designed to promote global awareness of and insight into the use of BPO as a critical management strategy. These include the Global Top Decision-Makers Study(sm) on Business Process Outsourcing, which provides comprehensive research and analysis of the BPO practices of over 300 of the world's leading corporations, and the Outsourcing World Achievement Awards. Presented annually in conjunction with The Corbett Group, the awards honor academic and business leaders who have made significant contributions to the outsourcing industry.

Currently, PricewaterhouseCoopers manages outsourcing programs for more than 500 multinational corporations and other large organizations around the world - leveraging the core process expertise of outsourcing professionals in finance/accounting, internal audit, tax compliance, applications process, procurement, human resources and real estate process.

PricewaterhouseCoopers (www.pwcglobal.com) is the world's leading professional services organization. Drawing on the knowledge and skills of 150,000 people in 150 countries, we help our clients solve complex business problems and measurably enhance their ability to build value, manage risk and improve performance. PricewaterhouseCoopers refers to the U.S. firm of PricewaterhouseCoopers LLP and other members of the worldwide PricewaterhouseCoopers organization.

Note to Editors: The name PricewaterhouseCoopers is one word, with upper case P, upper case C, and all other letters in lower case.