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India-Based Symphony Data Acquired by Atlanta- Based Provider of BPO Services

February 16, 2005

STI Knowledge (STI) today announced it has acquired Symphony Data, an India-based business process outsourcing (BPO) company with offices in Hyderabad. The acquisition is integral to STI's strategy and enables the Atlanta-based provider of BPO services, led by noted technology entrepreneur, Satish Sanan, to offer healthcare administration, claims processing, customer interaction, technical help desk and other vertical industries' knowledge-based services through a blended-shore delivery model. By combining forces
with Symphony Data, STI can offer on-site, off-site (on-shore) and now, off-shore BPO services, providing more delivery options to accommodate all customer needs and budgets.

"This acquisition is a key strategic initiative for STI Knowledge," said Satish Sanan, STI executive chairman, president and chief executive officer. "We are focused on improving our customers' business performance and profitability. Offering an off-shore option is a significant step in delivering on that vision, and helps us proactively meet demand for quality BPO services for the benefit of our growing client base in this increasingly important market space."

Sanan is a highly regarded and established entrepreneur, who founded his first company, IMRglobal, in 1988. As Chairman and CEO of IMRglobal, Satish grew the company from its modest beginnings into a major, international IT services and consulting firm. Satish took IMRglobal public in the U.S. in 1996, continued to grow IMR to employ over 3,000 employees, and merged the company in 2001 to CGI, after which he continued on as Vice-Chairman and President of the U.S. and Asia Operations. He was awarded the Ernst & Young Florida Entrepreneur of the Year award in 1998 and 1999, and National Entrepreneur of the Year in 1999. Sanan is credited with being the first to leverage the 24-hour workday through opening global offices and utilizing concurrent software engineering.

Symphony Data is a leading provider of healthcare administrative and BPO services with a particular expertise in the provider, payor and insurance industries. Like STI Knowledge, Symphony Data leverages a team of knowledge professionals, process optimization expertise and state-of-the-art technology to provide BPO services, technical help desk and interactive services with an unsurpassed level of quality. Symphony Data currently serves PPOs, HMOs, TPAs, and MGUs processing more than six million claims per year. Ram Davaloor, currently the chief operating officer of Symphony, will join STI Knowledge as a member of their executive management team.

"We are extremely pleased to be a part of STI. We have a strong business synergy that will help us combine our capabilities to deliver the highest level of benefits to our clients, and to help us meet growing demand for BPO services," said Davaloor. "We look forward to being part of a larger, stronger global BPO services organization offering blended-shore delivery that will truly make a difference in the marketplace."

About STI Knowledge
STI provides Business Process Outsourcing (BPO) services and Enterprise Support solutions for the healthcare, insurance, and commercial enterprises industries. STI helps its customers improve their business performance and profitability by delivering guaranteed business process outsourcing services ranging from claims processing to technical help desk. By optimizing these knowledge-intensive services, STI enables
customers to focus on their core business. Headquartered in Atlanta, Georgia, STI was founded in 1995 and employs approximately 350 professionals throughout the United States. STI is currently recognized in Gartner Group's Magic Quadrant of Help Desk Outsourcers for the second consecutive year. For more information, visit www.stiknowledge.com.

About Symphony Data
Symphony Data is a leading healthcare and insurance administrative outsourcing and information management services provider, based in Hyderabad, India. The company leverages technology; economies of scale and a global delivery model to provide complete health plan administration services. Service offerings focus on administration, compliance, and technology, combining Six Sigma & ISO 9001 methodologies and technology with domain expertise to deliver significant value to healthcare and insurance organizations. For more information, visit www.symphonydata.com.

 
 
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