News Release-- June 05, 2000
CSC AND AMP EXPAND IT INFRASTRUCTURE OUTSOURCING AGREEMENT
EL SEGUNDO, Calif., June 5 -- Computer Sciences Corporation (NYSE: CSC) and AMP Limited (AMP) today announced that they have entered an expanded five-year US$314 million (A$550 million) total outsourcing agreement following AMP's acquisition of GIO Australia (GIO).
This expanded agreement, effective June 1, 2000, is for the management of AMP and GIO's Australian information technology (IT) infrastructure which includes all network, desktop and mainframe and selected mid-range services. It replaces the final three years of the original agreement that was to have ended in 2003.
The outsourcing of AMP and GIO IT infrastructure is one of the key elements in the AMP/GIO Integration Program. As part of this transaction, a number of people will transfer to CSC's Australian Group.
"We have made tremendous progress in the integration of AMP and GIO this year to such an extent that our expectations of the combined strengths of the businesses continue to improve," said Paul Batchelor, AMP chief executive officer.
"The agreement we have reached with CSC is pivotal to our Australian business and reflects on our strategy to be a creative and disciplined user of technology and actively forge powerful strategic partnerships. AMP and CSC have had a strong business relationship for the past several years, built on a common understanding of successful partnering. We look forward to building on the strengths of this relationship in the future.”
“As a company, we have made great strides growing in the Australian market,” Van B. Honeycutt, CSC’s chairman, president and CEO, said. “AMP is a key client for us and the expansion of the services we provide them builds on our momentum.”
"CSC is delighted to strengthen our relationship with AMP by providing access to CSC's global resources and skills for the benefit of AMP," added George Bell, managing director of CSC's Australian Group.
About AMP
AMP Limited is a leading financial services group based in Australia with major operations also in New Zealand and the United Kingdom. It employs more than 21,000 people worldwide, has over 1,600 advisors in Australia and New Zealand and a sales force of over 3,500 in the United Kingdom. AMP manages assets of more than A$280 billion worldwide and is listed on the Australian Stock Exchange with more than 1.1 million shareholders. For more information, visit AMP's web site at www.amp.com.au.
About CSC
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 objectives through the use of technology. Having guided clients through every major wave of change in IT for more than 40 years, CSC today is well positioned to develop and apply IT strategies and technologies, particularly in the e-business area, based on its full range of capabilities in management and IT consulting; systems design and integration; applications software; Web and application hosting; and IT and business process outsourcing.
Since its formation in 1959, CSC has been known for its flexibility and customer-centric culture. Through numerous agreements with hardware and software firms, the company develops and manages solutions specifically tailored to each client’s needs. With almost 60,000 employees and more than 800 locations worldwide, CSC had revenues of $9.4 billion for the twelve months ended March 31, 2000. It is headquartered in El Segundo, California. For more information, visit the company's web site at www.csc.com.