Montreal, Quebec, July 21, 2008 – CGI Group Inc, (TSX: GIB.A; NYSE: GIB), today announced the sale of a Canadian business processing unit providing claims adjusting and risk management services to the Canadian property and casualty (P&C) insurance industry. With approximately $70 million in revenue, the business is being sold to privately-held The Shumka Group. The transaction is expected to close in early August 2008.
�It is important to specify that CGI remains fully committed to the P&C insurance industry through its end-to-end IT services offering,� said Michael E. Roach, President and CEO of CGI. �As such, we will continue to serve our clients by focusing on information technology and by making significant investments in our intellectual property and in our solutions such as CGI Edge™, GIOS and Ratabase®.�
About The Shumka Group
The Shumka Group is Canada�s largest independent, privately-owned supplier of claims management services. Established in 1986 with a single branch in Edmonton, Alberta, The Shumka Group today has grown to become a national company with 86 offices and more than 600 employees from coast-to-coast. The Group is currently comprised of three operating entities: SCM Adjusters Canada Ltd., an integrated insurance services company; Integra Claims & Systems Management Inc., a claims adjustment and management software company; and Forensic Investigations Canada, an insurance-related investigation company. Together, The Shumka Group of companies deliver world-class service through an uncompromising commitment to innovative technology, expert staff and solid customer service. Website: www.scm.ca.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 27,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI’s annual revenue run rate stands at $3.8 billion and at March 31st, 2008, CGI’s order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.