CGI Holding Corporation Extends Employment Agreement of Pat Martin, CEO of WebSourced, Inc.

Business Editors/High-Tech Writers

HILLSIDE, Ill.--(BUSINESS WIRE)--Jan. 13, 2004

CGI Holding Corporation (OTCBB:CGIH) today announced the company has extended the employment agreement of Steven "Pat" Martin, the president and chief executive officer of the company's WebSourced, Inc. subsidiary, until December 31, 2008.

Under Martin's leadership, WebSourced has weathered the Internet's most difficult period, increasing its revenues by over 750 percent during the period from 2000 to 2003. This success has been driven primarily from the thriving KeywordRanking.com brand, which Martin has skillfully positioned as one of the most profitable search engine marketing services in the world.

"The outstanding growth in WebSourced's revenues and earnings during the second half of 2003 is a testament to Pat Martin's leadership, and validates his strategic vision for WebSourced. Extending Pat's employment agreement through 2008 ensures his continued hands-on leadership as WebSourced continues to grow and expand its product offerings and as CGI Holding Corporation considers certain potential acquisitions and capital raising options. Pat will also continue to play a significant role as a fellow member of CGI Holding Corporation's board of directors," stated Gerard M. Jacobs, chief executive officer of CGI Holding Corporation.

Pat Martin of WebSourced stated, "I am excited about WebSourced's future as we move into our new 30,000 square foot facility later this quarter. WebSourced has emerged as the industry leader in search engine marketing, co-sponsoring the Search Engine Strategies conference in Chicago. We have a large and growing customer base that is enjoying the benefits of high visibility on the search engines. Additionally, our Cherish.com online dating service is growing at the high end of our membership expectations. The tremendous expertise and dedication to customer satisfaction of WebSourced's professionals will continue to grow over the next five years, and I am delighted that I will continue to lead WebSourced's efforts for many years to come."

CGI Holding Corporation, based in Hillside, Illinois, currently has one subsidiary, WebSourced, Inc., Morrisville, North Carolina, a leader in search engine marketing (see www.keywordranking.com).

Statements made in this press release that express the Company's or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe", "expect", "intend", "estimate", "anticipate", "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. Other factors that could cause the Company's actual activities, results or performance to differ materially include risks and uncertainties relating to: litigation; liquidity problems; historical losses; weak balance sheet; payment obligations; inability to collect monies owed; capital needs; acquisitions financing, terms and conditions; volatile stock price; impending reverse stock split; integration of acquired businesses; managing growth; availability of skilled labor and key personnel; weak general economic and business conditions; competition; lack of long-term contracts; lack of brand awareness; client expectations; dependence upon the internet as a means for commerce; governmental regulation or taxation; inability to protect intellectual property; illiquidity of the Company's stock; insider control; no dividends; Nevada laws that could discourage transactions involving the Company's stock; and other factors and risks discussed in the Company's filings with the Securities and Exchange Commission. The Company cannot guarantee future results, levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.