Janet Herin
Sr. Manager, Media Relations
CSC – Corporate
310.615.1693
> Email
Hony Yuen
Corporate Marketing Manager
CSAM
603.7663.7878
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Bill Lackey
Director, Investor Relations
CSC – Corporate
310.615.1700
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CSAM BECOMES WHOLLY OWNED CSC SUBSIDIARY
News Release -- August 13, 2008
Leading Malaysian IT Provider Joins CSCFALLS CHURCH, Va., Aug. 13 – CSC (NYSE: CSC) announced today that Computer Systems Advisers (M) Sdn Bhd (CSAM), one of Malaysia’s leading information technology (IT) service providers, has become a wholly owned subsidiary of CSC in a privatization resulting from the cancellation of the remaining 50 percent of the company’s shares for $62.4 million (RM197.4 million). Established in 1971, CSAM had approximately $135 million (RM433.9 million) in revenue for fiscal year 2007 and has more than 1,200 employees located in 23 offices throughout Malaysia.
“This action reaffirms our commitment to this region and marks a significant step forward in our growth in Malaysia and Asia,” said CSC Chairman, President and Chief Executive Officer Michael W. Laphen. “It also strengthens our global footprint – a key goal of our multi-year strategic plan aimed at increasing growth and profitability and improving customer service.”
CSAM operates primarily in Malaysia providing end-to-end integrated IT solutions and services to clients in the country’s commercial and government sectors. It was the first IT company in Malaysia to earn the Malaysian ISO 9001 Quality Management and Assurance Standard Award for its entire business operation. In addition, CSAM achieved “Operational Headquarters Status” from the Malaysian Industrial Development Authority earlier this year and will serve as one of CSC’s regional headquarters for functions such as service desk support and procurement.
About CSC
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, Global Outsourcing Services and the North American Public Sector. CSC’s advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 90,000 employees and reported revenue of $17.1 billion for the 12 months ended July 4, 2008. For more information, visit the company’s Web site at www.csc.com.
All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements represent the Company’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled “Risk Factors” in CSC’s Form 10-K for the fiscal year ended March 28, 2008. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
