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Stream Global Services Enters Agreement With Information Technology Development Agency (ITIDA) for Egyptian Workforce Development

Posted on: Tuesday, 23 June 2009, 15:15 CDT

Working Together with ITIDA, Stream will Train and Employ 1000 Employees in its Newly Opened Cairo Facility

BOSTON, June 23 /PRNewswire-FirstCall/ -- Stream Global Services, Inc., (Amex: OOO), a premium provider of customer care and business process outsourcing (BPO) services for Fortune 1000 companies, today announced that it has entered into an agreement with the Egyptian Information Technology Development Agency (ITIDA) to employ and train more than 1000 Egyptian employees in its Cairo facility over the next three years. ITIDA, as part of its initiative to empower, grow and develop Egypt's information and communications technology industry, will subsidize certain employee training costs for Stream.

Stream's Chairman and CEO, Scott Murray, signed the agreement today with Dr. Hazem Youssef Abdelazim, CEO, ITIDA, during the American Chamber of Commerce in Egypt event, taking place in Washington, DC. The agreement was witnessed by the Minister of Communications and Information Technology, His Excellency, Dr. Tarek Kamel.

"Following the recent opening of our 1000-seat Cairo solutions center, we are seeing tremendous opportunity to offer a highly skilled, technical workforce to support our growing global client base. We believe that Egypt is fast becoming the next 'go-to' location for off-shore services for both our North American and our European global accounts," said Murray. "We are thrilled to be working with the ITIDA to ensure that we quickly and effectively ramp up training and support efforts in Cairo for these clients."

Egypt is ranked sixth in the 2008 A.T. Kearney Global Services Locations Index, an improvement of seven ranks from 2007. And, according to A.T. Kearney, Egypt now ranks number one in the EMEA region as an offshoring location. Stream's Cairo center was launched in May 2009 to address this growing global demand for skilled technical workforce in an offshore support environment. The site is already serving several clients across multiple languages.

Commenting on the agreement, ITIDA CEO, Dr. Hazem Y. Abdelazim said, "We are excited to be working alongside a company of Stream's caliber to further develop the technology talent base of Egypt. We look forward to working together over the coming years to ensure Stream's clients reap the benefits of Egypt's advanced technology infrastructure and highly educated workforce."

About Stream Global Services

Stream Global Services is a premium provider of customer care and business process outsourcing (BPO) services for the brand-driven Fortune 1000. A global firm, with more than 17,000 employees based out of 34 service centers in 19 countries, Stream is a trusted advisor to some of the largest technology, retail, entertainment/media, telecommunications and related companies in the world. Its service programs, including technical support, customer retention and revenue generation, are delivered through a set of standardized best practices by a highly skilled workforce. Guided by one of the most experienced senior management teams in the industry, Stream continues to expand its global presence and service offerings to increase brand loyalty, revenue and business performance for organizations across the globe. To learn more about the company and its complete service offering, please visit www.stream.com.

About IDITA

The Information Technology Industry Development Agency (ITIDA) is a governmental entity affiliated to Egypt's Ministry of Communications and Information Technology. It is responsible for growing and developing Egypt's position as a leading global outsourcing location by attracting foreign direct investment to the industry and maximizing the exports of IT services and applications.

Located in the heart of the modern business environment at Smart Village, the six hundred acre technology and business park on the outskirts of Cairo, ITIDA is a self-sustainable entity that drives the IT industry in Egypt and raises awareness among the Egyptian people of the benefits and use of ICT to advance socio-economic welfare of the whole community. To learn more about ITIDA and its activities, please visit www.itida.gov.eg

MEDIA CONTACT: Sally W. Comollo Stream Global Services Sally.comollo@stream.com +1 781-304-1847

SOURCE Stream Global Services, Inc.

Source: PR Newswire

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