CSC SIGNS $400 MILLION IT AGREEMENT WITH GLOBAL CROSSING.

Computer Sciences Corporation (NYSE: CSC) announced recently that it has signed an information technology (IT) outsourcing agreement with Global Crossing (NYSE: GX) valued at an estimated $400 million over a 10-year term.

Under the agreement, CSC will assume management responsibility for Global Crossing's IT infrastructure, including mainframe and midrange computers, desktop computers, help-desk operations and disaster recovery. CSC anticipates that the agreement will involve the transfer of approximately 300 IT professionals from Global Crossing to CSC throughout Global Crossing's entire business environment.

This pact strengthens a joint marketing relationship between CSC and Global Crossing, leveraging both companies' core competencies to serve the needs of clients.

"In today's business environment the network has become the foundation of computing, where reliability and speed come together to create competitive advantage for global companies," said Van B. Honeycutt, CSC's chairman and chief executive officer. "Integrating CSC's world-class IT and business services with Global Crossing's network services creates a powerful value proposition for our customers."

"CSC is one of the world's leading consulting and IT services firms," said John Legere, chief executive officer of Global Crossing. "This agreement with CSC will allow us to leverage their core competency, managing IT infrastructure, so that we can lower costs and focus on our core competency, delivering advanced telecommunications services to multinational enterprises over one of the world's most extensive fiber optic based network."