CSC signs outsourcing pact with Mutual of New York.EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and , Calif.--(BUSINESS WIRE)--Nov. 21, 1994--Computer Sciences Corp. (NYSE NYSE See: New York Stock Exchange :CSC) and The Mutual Life Insurance Company of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (MONY MONY Mutual of New York (Insurance - Syracuse, NY) ) Monday announced the formal signing of a seven-year outsourcing contract that calls for CSC to manage and enhance MONY's information services See Information Systems. operations. Under the agreement, CSC is acquiring certain of MONY's information technology assets and will occupy its 113,000-square-foot data center in Syracuse, N.Y. In addition, 335 MONY employees who supported the company's information technology services will join CSC. CSC will manage all MONY's information technology operations Information technology operations, or IT operations, are the superset of all processes and services that are both provisioned by an IT staff to their internal or external and used by themselves, to run themselves as a business. , including its legacy systems and domestic network spanning three main sites, as well as agencies and other offices. CSC will also provide business reengineering and develop new applications systems using advanced technologies such as object-oriented platforms and client-server for MONY's core businesses of life insurance, disability income, annuities, securities and mutual funds. In addition, the two companies are pooling their skills to launch an ``Insurance Technology Center,'' based in Syracuse. The center will develop and market the newest technology services and tools to help life insurance companies rethink and revitalize their operations. The Mutual Life Insurance Company of New York, which wrote the nation's first mutual life insurance policy in 1843, provides life insurance, disability income and asset accumulation products (including annuities, securities and mutual funds) to individual clients and businesses. The company, which has consolidated assets of $16.2 billion as of June 30, 1994, is based in New York and has offices throughout the country. Computer Sciences has $2.9 billion in annual revenues, about 55% of which comes from commercial clients and the rest from the U.S. government. The company has headquarters in El Segundo, and has 30,000 employees in 450 offices, primarily in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe and Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. countries. CSC provides clients with a wide range of professional services including management consulting; business reengineering; and information systems consulting, integration, and outsourcing. CONTACT: Computer Sciences Corp., El Segundo
Mary Rhodes, 310/615-0311
or
The Mutual Life Insurance Company of New York
Charles Wasilewski, 212/708-2472
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