Computer Horizons Highlights Growing Non-Y2K Business.MOUNTAIN LAKES, N.J.--(BUSINESS WIRE)--July 22, 1998--During a Computer Horizons Corp. (Nasdaq:CHRZ) conference call yesterday, Chairman and President, John J. Cassese, told investors that the Company's growth strategy beyond Year 2000 is solid and that non-Y2K products and services have exhibited strong results. "By leveraging our established relationships with our Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 customer base and the referral customers they generate, we have been successful in cross-selling our expansive IT outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. packages -- staffing, solutions and products. For example, in the first half of 1998, we earned on average $1.11 of non-Y2K revenue for every $1.00 of Y2K revenue earned among our top 50 customer base. And, our non-Y2K revenue for the first six months of 1998 increased 148 percent over the same period of 1997," Cassese noted. "Our aggressive acquisition campaign, combined with our ability to offer enhanced capabilities to our customers -- such as Centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. Vendor Management and Networking Services -- will drive these metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM. higher," he added. "With the acquisitions of UK based Spargo Consulting and Canadian based Informatics Same as information technology and information systems. The term is more widely used in Europe. Search Group, we have taken the important initial steps in growing our global presence. We anticipate worldwide revenue to comprise potentially five to ten percent of total revenue for fiscal 1998 and over ten percent of total revenue for fiscal 1999, increasing from virtually zero today," he continued. "Additionally, it is pertinent to recognize that there is still opportunity in the Y2K area for Computer Horizons. During the first half of 1998, we added over 200 new Y2K projects, a 20 percent increase over last year. Also, further growth in the Y2K area will be driven by distributed desktop compliance services," he concluded. Computer Horizons Corp., founded in 1969, is a diversified information technology services company with 4,000 billable consultants worldwide. Through its international network of 50 offices in the US, UK, and Canada, it provides clients with resource augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. and advanced technology solutions to business problems through applications development, client/server migration, network management, emerging technologies, and legacy systems maintenance, including its industry-leading solution to the millennium date-change problem, Signature 2000. Please visit our Web site at http://www.computerhorizons.com. E-mail address See Internet address. e-mail address - electronic mail address for more information is: information@computerhorizons.com This press release includes certain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " for purposes of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 that involves risks and uncertainties that could cause actual results to differ materially. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of Computer Horizons' industry and competition.
CONTACT: Computer Horizons, Mountain Lakes
David Reingold/William Murphy, 973/299-4000
dreingol@computerhorizons.com
wmurphy@computerhorizons.com
hupprichl@ruderfinn.com
or
Ruder Finn, New York
Stacy Lipschitz (Investors)
Laura Hupprich (Media)
212/583-2757, 212/593-6387
lipschitzs@ruderfinn.com
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