CyberRep Sale Generates Realized Gain for Allied Capital.Business Editors WASHINGTON--(BUSINESS WIRE)--Jan. 17, 2003 Allied Capital (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced that it has recognized a realized gain Realized Gain A gain resulting from selling an asset at a price higher than the original purchase price. Notes: There may be tax consequences for a realized profit. of approximately $7.0 million on its investment in CyberRep, which has been acquired by ACS (Asynchronous Communications Server) See network access server. , or Affiliated Computer Services Affiliated Computer Services (ACS) (NYSE: ACS) is a Fortune 500 company that provides information technology outsourcing as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. , Inc., (NYSE:ACS). As of September 30, 2002, Allied Capital valued its debt investment in CyberRep at $15.9 million and its equity position at $4.5 million. Allied Capital first invested $4 million in CyberRep in 1998 and made several follow-on investments to fuel the growth of the company. Allied Capital has the potential to receive additional proceeds of up to $2.8 million from the sale pursuant to an earn-out provision and through the receipt of additional sale proceeds currently in escrow. CyberRep, a provider of outsourced customer service support to Fortune 500 companies, was purchased as a strategic acquisition by ACS, an international provider of business process and information technology outsourcing Information Technology Outsoucing or ITO is a company's outsourcing of computer or Internet related work, such as programming, to other companies. It is used in refence to Business Process Outsourcing or BPO, which is the outsourcing of the work that does not require so much solutions. CyberRep was founded in 1991 by two entrepreneurs, Douglas E. Palley, President, and S. Tien Wong, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , and now has over 2,000 employees and seven locations around the country. "Allied Capital has played a significant role in the organization's development," said Mr. Wong. Mr. Palley added, "We're grateful for Allied Capital's contributions and faith in our abilities." Bill Walton, Allied Capital Chairman and CEO, remarked, "We couldn't be happier about the success of CyberRep. Since we originally invested in the company, CyberRep's revenues have increased 300%, which speaks to the quality of CyberRep's management team and their ability to consistently meet their clients' customer service needs." About CyberRep CyberRep provides customer care and customer relationship management solutions for a variety of companies in the telecommunications, wireless communications, technology, and consumer products industries. CyberRep's services consist of telephone, e-mail, and web-based customer contact. CyberRep distinguishes itself from its competitors by offering a complete solution that includes payment processing, fulfillment, and customer intelligence. For more information, please see the CyberRep website at www.cyberrep.com. About ACS Affiliated Computer Services, Inc. (ACS), a Fortune 1000 company employing nearly 40,000 people and operating in 47 countries, provides business process and information technology outsourcing solutions to world-class commercial and government clients. The company's Class A common stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol ACS. For more information, see the ACS website at www.acs-inc.com. About Allied Capital Allied Capital is the nation's largest business development company and provides long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity investment capital primarily to support the expansion of private companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities. The company is headquartered in Washington, DC. For more information, please visit the web site at www.alliedcapital.com, call Allied Capital Investor Relations Investor relations The process by which the corporation communicates with its investors. toll-free at 888/818-5298, or e-mail us at ir@alliedcapital.com. Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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