Claremont launches an employee stock ownership plan.

PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 7, 1995--Claremont Technology Group Inc., a leading information technology consulting and systems integration firm, has launched an Employee Stock Ownership Plan (ESOP) so its employees will share in the success of the company.

According to Paul Cosgrave, Claremont's president and CEO, "Claremont is rapidly growing. When we examined the reasons for our growth it was clear that our people and the talents they bring to each client relationship are the drivers behind the success. To accelerate that growth, we decided to institute an employee ownership program. This will ensure that every contributor to the company's success shares in that success. While we explored the various options open to any fast-growing successful firm, we felt an ESOP was the best by far."

"In fact," added Steve Darrow, company founder and chairman, "this is yet another step in our evolution. From our beginning six years ago, we were committed to working with the type of clients who presented us with a challenge. By instituting our ESOP, we are confident we will be able to better serve our clients and become an even more attractive firm for career-minded professionals."

Claremont will make contributions based on a percentage of an employee's salary with vesting taking place within seven years. Claremont's philosophy of employee ownership has been modeled after that of Science Applications International Corporation (SAIC), one of the nation's largest and most successful employee owned companies. Claremont chose this particular model because SAIC's employee ownership has been so successful in addressing employee retention, motivation and other issues pertinent to the systems integration market.

"Through the ESOP, Claremont is looking to create a challenging and satisfying environment for employee owners that will motivate them to propel the company forward," said Dr. Robert Beyster, chairman and CEO of SAIC; and founder of the Foundation for Enterprise Development, a non-profit organization that assists companies in developing employee ownership plans.

Creating this ownership culture will help Claremont attract and retain the talent the company needs to continue its successful path. The ESOP will be particularly attractive because of the Claremont's strong growth rate. During the fiscal year 1995, the company's revenues nearly doubled since the preceding year, and projections for the next year expect similar growth.

The ESOP program is already causing excitement within the Claremont ranks and inspiring innovative and cost-cutting ideas by the company's employees. Further, an improved tax-sheltered retirement program will allow all employees to share proportionately in the success of the company. The result for the company's clients will be increasingly improved customer service, cost savings and operational improvements.

"We have a company with a unique corporate culture. Our style of open management permeates throughout the company. We all enjoy an environment where 'give and take' on even the most important issues is a 'given.' And clients find it refreshing," reports Cosgrave. "Further, we've always had genuine concerns about employees and their quality of life. That will continue well into the future, and no doubt will enhance our already-strong projections for the next few years as we become a major player in the IT services industry worldwide."

Claremont Technology Group Inc. provides IT services designed to improve a client's business and responsiveness to their customers. Serving clients principally in Public Retirement Systems, Global Communications and Financial Services, Claremont also has experience in environmental, retail, transportation, public utilities, health care, and both high technology and process manufacturing. Services include: core client/server systems migration and integration services, IT architectural planning, highly customized network-based solutions, electronic commerce solutions on the Internet, advanced groupware applications, and complex electronic document management systems.

Claremont is an employee-owned company with its corporate headquarters in Portland. The company has systems consulting and support offices in Seattle, WA; Sacramento, CA; Cincinnati, Cleveland and Columbus, OH; Basking Ridge, NJ; New York, NY; Montreal, Canada; and London, England.

CONTACT: Claremont Technology Group

Krista Wald, 800/487-8364 ext. 25

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Michael Becce, 908/747-9330

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