CGI Signs CDN$16 Million Full Outsourcing Contract With U.S.-Based Insurance Company.MONTREAL--(BUSINESS WIRE)--July 31, 1998--CGI Group Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GIB See NIST binary. .A.) (ME:GIB.A.) and Long Island, N.Y.-based Interboro Mutual Indemnity Insurance Company today announced the signing of an outsourcing agreement according to which CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. will provide Interboro with a full range of business solutions and outsourcing services. CGI expects the agreement to generate revenue of approximately CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $16 million over its ten-year term. "Interboro was seeking to renew and broaden its portfolio of property and casualty insurance products based on advanced technology, in order to strengthen its competitive advantage," said Interboro Chairman of the Board and President Andrew E. Festa. "By providing new and enhanced products and technologically advanced solutions through the Internet to our agents and brokers which comprise our distribution channel, Interboro is well positioned to meet their challenges of the future." Jean Brassard, CGI's President and COO, added: "We are pleased that Interboro chose us to support them as they leverage technology to strengthen their competitive advantage. CGI and its U.S. subsidiary ISI ISI International Sensitivity Index, see there Systems have the resources and infrastructure to meet all of Interboro's IT and insurance needs." As part of the agreement, in which several Interboro employees will join the ranks of ISI Systems, CGI will provide its client with a new suite of applications and IT engineering services and help in implementing these business solutions. Interboro Mutual Indemnity Insurance Company is a property and casualty insurance company focusing on the automobile and homeowner insurance markets in New York state. CGI is the largest independent information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. firm in Canada and the sixth largest in North America. It provides end-to-end IT services and business solutions to some 2,000 clients in Canada, the United States and in 20 countries around the world. CGI has more than 7,500 professionals, an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue-run rate of more than $1.1 billion and an order backlog totalling approximately $6 billion. CGI's shares (GIB.A) are included in The Toronto Stock Exchange's TSE 300 Composite and TSE 200 indexes. Website address: www.cgi.ca.
CONTACT: CGI Group Inc.
Ronald White, 514/841-3200
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