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CSC Signs $99.5 Million Contract Extension With AMP

Posted on: Monday, 1 June 2009, 14:00 CDT

FALLS CHURCH, Va., June 1 /PRNewswire/ -- CSC (NYSE: CSC) today announced that leading Australian wealth management company AMP Limited (ASX: AMP) has extended its relationship with CSC. The new six-year, $99.5 million (AUD$150 million) contract was awarded during CSC's fiscal 2009 fourth quarter. It extends the two companies' original engagement, which started in 1993, making it one of the longest running strategic information technology (IT) outsourcing relationships in Australia.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO)

Under the new agreement, CSC will continue to provide AMP with fully outsourced managed infrastructure services for mainframe, midrange, network, desktop and service desk, as well as information and system security.

"CSC and AMP have worked successfully together over the past 16 years, delivering programs that strengthen AMP's operating platform and improve business efficiencies," said Lee Barnett, AMP chief information officer. "Extending this contract enables CSC to provide AMP with services that further leverage operational efficiencies year on year."

"We are pleased to announce this new extension with AMP," said Nick Wilkinson, president of CSC's operations in Australia. "Our long-standing relationship has set a benchmark not only for CSC but the outsourcing industry in Australia as a whole. Introducing solutions that achieve economic efficiencies is imperative in the current climate, and CSC has continued to deliver the results AMP needs to excel in such a competitive industry. Through our collaborative and trusted approach, we were able to offer a proposal that addressed AMP's requirements while providing flexibility to address future objectives."

About AMP

AMP is a leading wealth management company, providing financial advice and retirement savings and income, investment, insurance and banking solutions to more than 3.4 million customers. It is Australia's number one provider of superannuation, it has the largest financial planning network in the country, and it is one of the region's most significant investment managers. For further information on AMP, visit www.amp.com.au.

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 92,000 employees and reported revenue of $16.74 billion for the 12 months ended April 3, 2009. For more information, visit the company's Web site at www.csc.com.

SOURCE CSC

Source: PR Newswire

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