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CGI reports strong growth in first quarter fiscal 2003; Recent acquisitions of INSpire, UAB and COGNICASE build momentum.

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M2 PRESSWIRE-28 January 2003-CGI: CGI reports strong growth in first quarter fiscal 2003; Recent acquisitions of INSpire, UAB and COGNICASE build momentum(C)1994-2003 M2 COMMUNICATIONS LTD

RDATE:01282003

London, UK -- CGI Group Inc. (NYSE: GIB; TSX: GIB.A), a leading provider of end-to-end information technology and business processing services, today reported unaudited results for the quarter ended December 31, 2002. All figures are in Canadian dollars unless otherwise indicated.

First Quarter Financial Highlights

* Revenue of $589.0 million was 14.9% higher than revenue reported in the first quarter of fiscal 2002 and 3.0% higher than the fourth quarter.

Year-over-year organic growth represented 12.2%.

* Net earnings increased 20.9% to $37.0 million from last year's first quarter net earnings, and were up 4.2% sequentially.

* Basic and diluted earnings per share of $0.10 were up over earnings per share of $0.08 reported in the first quarter of fiscal 2002 and $0.09 reported in the fourth quarter. The net earnings margin was up to 6.3%.

* Cash flow from operating activities was $30.1 million.

* The backlog of signed contracts as of December 31, 2002 was $10.7 billion with a weighted average remaining contract term of 7.3 years.

* The current pipeline of bids for large outsourcing contracts being reviewed by potential clients remains robust at $5 billion.

"Our strong first quarter results and initiatives announced in the second quarter position CGI for future growth," said Serge Godin, chairman and CEO.

"Good organic growth in the quarter demonstrates our ongoing...

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