USAID Awards BearingPoint $124.7 Million Contract for Egyptian Economic Reform
| USAID Awards BearingPoint $124.7 Million Contract for Egyptian Economic Reform MCLEAN, Va., Oct. 5 /PRNewswire-FirstCall/ -- BearingPoint, Inc. (NYSE:BE) , a leading global management and technology consulting firm, today announced it has been awarded a four-year, $124.7 million contract by the U.S. Agency for International Development to help implement a broad program of economic, financial, and private sector reform in Egypt. BearingPoint has been providing economic policy development assistance in Egypt for nearly 15 years, with a particular focus on tax and fiscal reform, capital markets reform, insurance sector regulation, real estate finance, and bank restructuring. This new engagement, part of USAID's Technical Assistance for Policy Reform II (TAPR-II) program, is designed to respond to Egypt's requests for assistance to re-instate a private sector oriented economic model across a wide range of industries and government-owned or supported institutions. BearingPoint will assist USAID through work on seven key program areas, including: * Trade Environment work including customs reform, trade facilitation, trade policy, and intellectual property rights. * Financial Service Modernization, including activities directed at bank privatization, banking supervision/regulation, and bank restructuring. * Macroeconomic Stability, including activities related to expenditure management and monetary policy. * Policy Reform, focused on commercial law reform and the development of industrial promotion policy. * Private Sector activities related to investment policies, legalization and formalization of business transactions and improving the enabling environment for business. * Human Resources activities surrounding legal education, business education, and economics education. * Program Management support including results reporting, assessments, performance verification for conditioned assistance programs, preparation and dissemination of documents and publications, and public awareness. The overall success of the TAPR-II program will be measured by its ability to increase levels of investment and trade, job creation, and poverty reduction throughout the republic. "We're extremely pleased to have been selected for this project, and to have the opportunity to continue the important work with Egypt," said James Horner, senior vice president for BearingPoint's Emerging Markets sector. "BearingPoint's unique team of professionals has deep expertise in economic governance, taxation, privatization and financial reform, and we are committed to the success of the TAPR-II program." BearingPoint is a global leader in providing a full range of economic governance and private-sector development services to emerging markets. The company's strong history of performance has led to a number of new economic reform-related projects over the past six months, including new contracts in Afghanistan, Cyprus and Montenegro. These most recent deals complement a nearly 15-year history of successful projects that BearingPoint's Emerging Markets team has worked on in more than 60 countries worldwide. About BearingPoint, Inc. BearingPoint, Inc. (NYSE:BE) is a leading global management and technology consulting firm, providing strategic consulting, application services, technology solutions and managed services to Global 2000 companies and government organizations. We help customers achieve results by identifying mission critical issues and implementing innovative and customized solutions designed to generate revenue, reduce costs and access the right information at the right time. Our proprietary research institute, the BearingPoint Institute, demonstrates the firm's commitment to analyzing and responding to issues with a thoroughly researched and informed perspective. Based in McLean, Virginia, BearingPoint has been named as one of Fortune's Most Admired Companies in America for three consecutive years. For more information, visit the Company's website at http://www.bearingpoint.com/. Some of the statements in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. The forward-looking statements in this press release include, without limitation, statements about claimed defaults with respect to the Company's Series A and Series B Debentures and potential consequences. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Source: BearingPoint, Inc. CONTACT: Steve Lunceford of BearingPoint, Inc., +1-703-747-4545, Web site: http://www.bearingpoint.com/ |
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| ACS and UMass Memorial Enter Outsourcing Agreement DALLAS, Oct. 5 /PRNewswire-FirstCall/ -- Affiliated Computer Services, Inc., (NYSE:ACS) , a premier provider of business process outsourcing and information technology solutions, announced today that effective November 1, 2005, it will move from a subcontractor to primary contractor role in providing network, data center, and telecommunications services to UMass Memorial Health Care, Inc., (UMMHC). ACS will also assume responsibility for UMMHC's desktop support and help desk on January 1, 2006. UMMHC and the primary contractor, with ACS as its subcontractor, originally entered into a seven-year, $102 million information technology (IT) outsourcing agreement in May 2002. The primary contractor provided applications, help desk, and desktop services and ACS provided the data center, network, telecommunications, and disaster recovery services. By mutual agreement, the outsourcing agreement between UMMHC and the primary contractor will terminate on November 1. UMMHC will take over responsibilities for its applications and project management office, and outsource to ACS the desktop support and help desk services on January 1, following a transition period. In addition to moving into the primary outsourcing contractor role, ACS retains responsibility for the data center, network, and telecommunications services, while taking on responsibility for help desk and desktop services. Under the new contract, ACS' revenue will increase by approximately 60 percent. The new agreement calls for ACS to support 9,000 desktops and peripherals for a population of 12,000 end-users and to furnish 24 x 7 help desk services through its healthcare-dedicated network monitoring and call center in addition to continuing to provide data center, network, telecommunications, and disaster recovery services. "We are confident that ACS, in its expanded role, can make a more important contribution to helping UMMHC achieve its strategic goals through excellence in information technology," said Wendy Warring, Executive Vice President of UMMHC. "Powerful, agile, and cost effective IT systems are an important element in the success of an academic medical center and critical in enabling us to serve our patients. We look forward to working closely with ACS to support UMMHC's commitment to excellence in patient care." "We appreciate the trust that UMass Memorial Health Care places in ACS as we enter this expanded information technology outsourcing agreement," said Charles O. Bracken, Managing Director of ACS Healthcare Solutions. "We look forward to applying our extensive healthcare knowledge and recognized expertise in IT services management to achieve UMMHC's goals." About UMass Memorial Health Care The UMass Memorial Health Care System is the largest not-for-profit healthcare system in Central Massachusetts with 1,500 physicians and more than 12,000 employees. The system's comprehensive network of care includes teaching hospitals, affiliated community hospitals (Clinton Hospital, Marlborough Hospital, HealthAlliance Hospitals, Wing Memorial Hospital and Medical Centers), outpatient clinics, community-based physician practices, long-term care facilities, and home health, hospice, rehabilitation, and mental health services. UMass Memorial is dedicated to promoting health and wellness in the community, and is proud to be the clinical partner of the University of Massachusetts Medical School. ACS, a FORTUNE 500 company with more than 50,000 people supporting client operations in nearly 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS". ACS makes technology work. Visit ACS on the Internet at www.acs-inc.com . The statements in this news release that do not directly relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous risks and uncertainties, many of which are outside the Company's control. As such, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Factors could cause actual results to differ materially from such forward-looking statements. For a description of these factors, see the Company's prior filings with the Securities and Exchange Commission, including our most recent filing. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise. Source: ACS, Inc. CONTACT: investor relations, Warren Edwards, Executive Vice President- Web site: http://www.acs-inc.com/ |
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