Equitant Names Two Key Executives; Former Gunn Partners, EDS Executives Join Equitant's Leadership Team.

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--April 14, 2004

Equitant, the pioneering leader in Managed Services of Order-to-Cash (O2C(TM)) related functions, announced today the appointment of two key executives. The company named Mike Gibson as Senior Vice President Sales, Europe, and Garry Smith as Vice President, Global Client Management.

Prior to joining Equitant, Mr. Gibson spent more than 20 years in various consulting and executive operations positions throughout Europe and the United States. At Gunn Partners, He served as an executive director with the Geneva office. His range of consulting experience spans the operations, strategy, and business support functions of major companies. Mr. Gibson has worked for such key industries as petroleum, pharmaceutical, chemical, automotive, and transportation, as well as being influential in various sections of public administration. His previous clients include Diageo, Unilever, Alcan, United Biscuits, GM, KLM, Toyota and UBS Warburg, among others

Mr. Gibson has been quoted on the subject of process improvement in Industry Week, the New York Times, Business Strategy and GE Capital. He has spoken for the Conference Board, the European Organization for Quality, various Chambers of Commerce, and for the British government.

Prior to joining Equitant, Mr. Smith spent more than 25 years in business development, account management, and strategic alliance positions for such companies as EDS and TeleTech. At EDS, Mr. Smith was responsible for CRM portfolio & alliance management for new business development within the company's business process outsourcing (BPO) portfolio. He brings a strong business management background, having held senior positions in sales and account management; strategic alliances; production/delivery processes, product/service development; and contracts and finance.

Mr. Smith has extensive experience in the development of strategic alliances and account management. His previous clients and partners include: IBM, Cisco, Bell Atlantic, Bell South, Ameritech, Bell Canada, Sprint, US West, Nortel, Xerox, Compaq, Land Rover, and Firestone, among others.

Barry Rand, Chairman and CEO of Equitant said, "The addition of Mike and Garry to the executive team is significant in that it enables Equitant to increase its focus to expand our footprint in Europe and also provide laser focus on strengthening and expanding our relationships with our current clients as we execute a 'Clients for Life' strategy. Their background and experience further strengthens the leadership of our company."

Working with the other members of Equitant's executive team, both executives will help drive a number of critical activities for the company, including lead generation, alliance strategy, and global client management efforts. Mr. Gibson will be based in London, United Kingdom; Mr. Smith will be based in Denver, Colorado.

*Order-To-Cash (O2C(TM))

The Order-To-Cash process comprises key activities in the financial supply chain, including order management, credit analysis and approval, invoice and billing, cash collections management, chargebacks and deduction handling, dispute resolution, cash application, and financial analysis and reporting. The process is typically non-core, yet complex and labor intensive. However, managing the process on an end-to-end basis is also critical as it can significantly impact companies' cash position, cost structure, and customer relationships.

About Equitant (www.equitant.com)

Equitant is exclusively focused on managing and optimizing the Order-to-Cash (O2C(TM)) cycle for increased profitability. As a first party outsourcing provider, Equitant provides clients the integrated best-in-class design and execution of the end-to-end O2C(TM) cycle. Equitant's pervasive culture of measurability, accountability and process-discipline guided by a Six Sigma management platform is the cornerstone of our business model. As a result, Equitant consistently delivers major financial and operational benefits to its clients including significant improvements in operating costs, profit leakage, working capital, customer satisfaction, business flexibility, visibility and control. Equitant's repeatable, scalable, results-oriented solution is backed by our willingness to guarantee measurable client outcomes. Equitant serves the Global 1000, including companies such as Microsoft, Lucent, Cisco and Hewlett-Packard, among others. Today Equitant manages billions of dollars of revenue for its clients.