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Capco opens new service delivery center in Bangalore

Supports rapid expansion of Capco IT Services India’s successful delivery model for its financial services clients

BANGALORE, December 13, 2004 – Capco, the leading provider of integrated
consulting, business processing, data and technology services to the global financial services sector, announces the establishment of a new service delivery center in Bangalore. The new center represents an estimated $1 million facility, technology and operations infrastructure, and human capital investment by Capco to support the rapid expansion of Capco IT Services India, which was initially announced in December, 2003.

The Bangalore facility supports among others several Tier One financial services clients and is a fully integrated office within the Capco and Capco Reference Data Services global network. It offers a full compliment of business services, data operations, and software development, testing and production support for Capco’s wide range of managed data services, data solutions, and technology solutions.

The new delivery center will house Capco IT Service India’s 100 employees, with plans for expansion to 200 employees in the coming months, and several hundred employees longer-term, to support Capco’s rapidly growing client base.
"For top financial institutions to achieve business transformation change and profit from new services and technologies, we must go beyond traditional consulting by developing, running, and commercializing new processing services and products," said Rob Heyvaert, Chairman and Chief Executive Officer, Capco. "Our new Bangalore facility helps Capco realize our original vision to provide a fully integrated business, consulting and technology services delivery model to help our clients modernize their own business models and architectures and create strategic revenue and cost advantages."

"Last year, Capco entered India because of its abundance of highly skilled, enthusiastic professionals who can help us meet our clients’ tough demands for top service levels and quality," said Predrag Dizdarevic, Executive Vice President, Capco, and Head of Capco Reference Data Services. "We are now building a client franchise in Bangalore that functions as a 24/7 extension of our global consulting, solutions and data analyst teams, particularly around managed services in reference data processing, operational risk, equity research, fund order routing, and data migration."

The Bangalore service delivery center is housed in a new, state-of-the-art facility at Koramangala. The facility is based on an original modern architecture design by Belgian architect Van Duysen and consistent with Capco’s unique global brand. The facility has high tech connectivity to ensure seamless communication across the globe through virtual networks.

"Our Bangalore employees are highly skilled in financial applications knowledge,
business processes, operations, and Java and Microsoft .NET technologies," said Kurt Vandenberg, Partner and Head of Capco IT Services India. "We have a strong vision for Capco in Bangalore and a new, state of the art facility to welcome innovative, enthusiastic technology and consulting professionals to help us expand our global client business further."

Growthink Research, a venture capital research firm, selected Capco as one of the Top Emerging Companies in the financial services industry for 2004. The company was selected from more than 2,000 firms that received funding over the past two years.

Reasons cited for Capco’s selection included the experience of its management team, the uniqueness of its technology and business model, its capital raising track record, and the likelihood of future success.