KBAY Kanbay International (MM)

New organization designed to operationalize strategic benefits of Kanbay/Adjoined combination ROSEMONT, Ill., Aug. 10 /PRNewswire-FirstCall/ -- Kanbay International, Inc. (NASDAQ:KBAY), a global management consulting, technology integration and development, and outsourcing firm, today announced a new organizational structure that is the culmination of a five-month integration period following the company's merger with Adjoined Consulting in March. Immediate benefits of the merger have included Kanbay's vertical diversification and expansion of service offerings, leading to a transformation of the industry model. With the integration phase proceeding ahead of schedule and full retention of Adjoined's senior leadership, Kanbay posted strong second quarter revenue earlier in the month and also increased its full-year consolidated revenue guidance. Since the merger, more than a dozen accretive deals have closed and a healthy pipeline of synergistic opportunities has emerged that includes several multi-year deals. Kanbay's domain-based, end-to-end technology solutions and cost-effective global delivery function have differentiated the IT services provider in the market and the company is taking steps to ensure long-term sustainability. "We are pleased with our operating momentum post-merger and our ability to finalize the integration ahead of initial expectations," said Raymond J. Spencer, Chairman and CEO of Kanbay. "We are confident that we have strategically assimilated these two organizations and are poised to take advantage of the benefits of the deal." The new structure combines the strengths of both organizations to operate as one entity and accelerates profitable growth for the future. In this new model, three co-operating heads will report to Spencer. Rodney J. Rogers, Senior Managing Director of Kanbay and CEO and Co- Founder of Adjoined Consulting, will head up a Global Practices structure designed to drive a market-capture-growth organization based on domain-based technology solutions. Roy K. Stansbury, Executive Vice President of Kanbay's Global HSBC Services, will lead a Global Industry Solutions structure designed to expand domain expertise across technologies and be responsible for customer care and growth in major accounts. Stansbury retains the world-class proven leadership of global sales and management consulting. Aparna U. Katre, Executive Vice President of Kanbay's Global Business Innovation, will be responsible for maintaining Centers of Excellence in India and ensuring the effectiveness of the global delivery platform. Reporting to these individuals will be the senior leaders from both the Kanbay and Adjoined organizations charged with specific responsibility for revenue growth, efficient quality delivery and competency development. Also reporting to Spencer will be Kanbay's strategic support functions, including Finance, led by William F. Weissman, Executive Vice President and Chief Financial Officer; Strategy, led by Ken Coppins, Executive Vice President of Kanbay's World Class Solutions; and Culture, headed by Cyprian D'Souza, Executive Vice President and Managing Director of Kanbay India and a Director of Kanbay International, Inc. About Kanbay International, Inc. Founded in 1989, Kanbay International, Inc. (KBAY) is a global IT services firm with approximately 6,500 associates worldwide. Kanbay provides a highly integrated suite of management consulting, technology integration and development, and outsourcing solutions through a proven global delivery platform to clients focused on Financial Services and Consumer & Industrial Products, as well as an emerging presence in the Communications & Media and Life Sciences industries. Kanbay is a CMM Level 5 assessed company headquartered in greater Chicago with offices in North America and India as well as London, Singapore, Hong Kong, Tokyo and Melbourne. Further information about Kanbay can be found at http://www.kanbay.com/. Forward-Looking Statements This release contains statements relating to projections or future results. These statements are forward-looking statements under the federal securities laws. We can give no assurance that any projections or future results discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" disclosure in our Quarterly Report on Form 10-Q for the period ending March 31, 2006. DATASOURCE: Kanbay International, Inc. CONTACT: Megan Grabos, +1-312-861-4710, , for Kanbay Web site: http://www.kanbay.com/

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