EL SEGUNDO, Calif., Oct. 3, 2002 —
Computer Sciences Corporation (NYSE: CSC), one of the world’s leading
information technology (IT) services and consulting firms, has signed a seven-year applications outsourcing agreement valued at approximately $80 million with Manulife USA, a subsidiary of Toronto, Ontario-based Manulife Financial Corporation (NYSE: MFC).
Manulife USA has selected CSC’s VANTAGE-ONE enterprise life insurance and annuity administration engine and PerformancePlus distribution management system as the core of its wealth management and compensation solution. Under the agreement, CSC will provide comprehensive management and production support for these applications. The agreement follows other recent CSC initiatives for Manulife USA, including a common, high-volume e-commerce and
workflow management-enabled platform.
“CSC’s strategic initiatives with Manulife USA have helped us improve our core products, applications, infrastructure and processes to allow our customers to do business with us more easily,” said James R. Boyle, president of U.S. Annuities for Manulife USA. “This new agreement frees our company to focus on business goals to simplify expansion of our operations, quickly move new products to market and deliver exceptional client service.”
“This new contract is a milestone in CSC’s 15-year relationship with Manulife USA,” said Jim Cook, president of CSC’s Financial Services Group. “Their selection of our application outsourcing services underscores CSC’s ability to deliver business results.”
About Manulife USA
Manulife USA is committed to offering the highest quality annuity, life insurance, pension, tax-deferred college savings and separately managed account products to its clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing risk-adjusted returns and broad diversification across asset classes, investment styles and asset managers. With its broad product lines, competitive underwriting, excellent ratings and quality customer service, Manulife USA is dedicated to providing quality products designed to help create and preserve wealth for its clients.
Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were US$92.1 billion (Cdn$139.8 billion) at June 30, 2002.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com
Computer Sciences Corporation, one of the world’s leading consulting and
information technology (IT) services firms, helps clients in industry and government achieve strategic and operational results through the use of technology. The company’s success is based on its culture of working collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges.
Having guided clients through every major wave of change in information technology since 1959, CSC combines the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of global corporations and organizations. With more
than 66,000 employees in locations worldwide, CSC had revenues of $11.5 billion for the 12 months ended June 28, 2002. It is headquartered in El Segundo, Calif. For more information, visit the company’s Web site at www.csc.com.