Convergys Expands Global HR Business Process Outsourcing Capabilities with Two Acquisitions in Asia.

Business Editors

CINCINNATI & SINGAPORE--(BUSINESS WIRE)--April 26, 2004

Increases Footprint in the Market by Adding Payroll and Benefits

Solutions to Asia Pacific Operations

Convergys Corporation (NYSE:CVG), the global leader in integrated billing, employee care, and customer care services, announced today it is expanding its global payroll and benefits outsourcing capabilities with the acquisition of two companies in Singapore.

Convergys has closed on a purchase agreement to acquire Out-Smart, an independent provider of HR, payroll, and benefits administration outsourcing solutions to companies operating in the Asia Pacific region, and i-Benefits, a market leader in the Asia Pacific region providing a comprehensive range of flexible HR and benefits services.

These acquisitions will have a slightly negative impact on Convergys' operating income in 2004.

With the closing of these strategic acquisitions, Convergys

-- Takes early leadership in comprehensive HR BPO capabilities

for the Asia Pacific market

-- Enhances its network of HR Shared Service Centers that support

multiple clients in multiple countries in multiple languages

-- Demonstrates its continuing commitment to global HR BPO

business

-- Becomes uniquely positioned to leverage its integrated

technology platform to provide global business intelligence to

clients, while at the same time having the depth of expertise

to provide detailed support at a regional and country level

around the world

"Our announcement today in the Asia Pacific region reinforces Convergys' commitment to providing outsourced HR administration services on a global basis for large multi-national companies. It also represents an important step in the expansion of Convergys' employee care capabilities globally," said Karen Bowman, Convergys' President of Employee Care. "We focus on providing HR administration services through a delivery model with multi-channel access to shared service centers that increases operational efficiencies for our clients and result in better business intelligence about their global workforce."

Out-Smart and i-Benefits have a diverse group of more than 100 clients covering all industry segments throughout the Asia Pacific region with offices in Singapore, Malaysia, and Hong Kong. Their combined client list includes some of the world's largest corporations such as American Express, Citibank, Dell, Ericcson, JP Morgan, Microsoft, Pfizer Pharmaceuticals, Prudential Financial, Unilever, and UPS.

Bowman continued, "Over the last 18 months Convergys has seen a significant increase in the demand for regional and global HR outsourcing solutions. As a result of this acquisition, we are enhancing our unique capability to provide our clients with distinctive solutions that address their needs at both the regional and global level."

With 20 years experience providing HR outsourcing solutions to the world's leading organizations Convergys' employee care delivers institutions such as Fifth Third Bank, Office Depot, and RR Donnelley measurable improvements in their HR management processes, operations and service delivery models. Convergys is rated one of "America's Most Admired" companies in the diversified outsourcing industry by Fortune magazine. Supporting clients and their associates in more than 55 countries and over 30 languages, Convergys has the infrastructure and resources required to deliver flexible outsourcing solutions for a global workforce.

About Convergys

Convergys Corporation (NYSE:CVG), a member of the S&P 500 and a Fortune Most Admired Company, is the global leader in integrated billing, employee care, and customer care services provided through outsourcing or licensing. We serve top companies in telecommunications, Internet, cable and broadband services, technology, financial services, and other industries in more than 40 countries. We also provide integrated, outsourced, human resource services to leading companies across a broad range of industries.

We bring together world-class resources, software, and expertise to help create valuable relationships between our clients and their customers and their employees. This commitment is validated by the more than 1.5 million individual bills our software produces each day to support more than 100 million subscribers, and by the more than 1.7 million separate customer and employee contacts we manage each day, both live and via electronic interaction.

Convergys(r) employs more than 55,000 people in 51 customer contact centers and in our data centers and other offices in the United States, Canada, Latin America, Europe, the Middle East, and Asia. Convergys is on the net at www.convergys.com, and has world headquarters in Cincinnati.

(Convergys and the Convergys logo are registered trademarks of Convergys Corporation.)