KBAY Kanbay International (MM)

U.K.-based Liberata anticipates a significant cut in operating expenses through improved outsourcing infrastructure, Kanbay's proven global delivery platform ROSEMONT, Ill., Nov. 7 /PRNewswire-FirstCall/ -- Kanbay International, Inc. (NASDAQ:KBAY), a global management consulting, outsourcing, technology integration and development firm, announced today that it is working with Liberata, a leading business process outsourcing provider in the United Kingdom, to provide the company with additional technology support and servicing capabilities. Kanbay will complement Liberata's core competencies with a highly efficient end-to-end approach to managing and rationalizing Liberata's IT environment through valuable domain expertise, improved processes and a reusable cost-reducing methodology. Kanbay's off shoring and outsourcing capabilities are central to the solution set, which Liberata will use to help transform its Legacy systems to significantly reduce total administration cost per policy for business acquisition and subsequent servicing. Michael Peck, Kanbay's Client Partner for Liberata said, "Kanbay's custom approach uses our extensive experience in life and pensions solutions to provide Liberata with key elements such as a core team with the benefits of a scalable resource pool that can run multiple migrations in parallel. We also offer improvement in the total cost of ownership (TCO) of the IT environment supported by CMM 5 processes and methodologies. With these improvements, Liberata is positioned to set the benchmark for policy administration in the U.K." Liberata anticipates these improved systems will significantly reduce operating expenses. Philip Hogan, Executive Director of Liberata said: "Kanbay's domain expertise, TCO reduction capabilities and ability to improve efficiencies act as a catalyst for Liberata's vision of improving everyday business processes and significantly growing our clientele. As a leading provider of adaptive IT solutions, Kanbay was a clear choice for Liberata due to its complementary skills and our ambitions to improve the existing IT environment and provide heightened client services." Liberata provides insurance companies with outsourcing operations management functions and human resources services such as payroll, life and pensions policy administration and document management, while providing continuous service improvement and efficiency. On Oct. 26, 2006, Kanbay announced that it signed a definitive agreement to be acquired by Capgemini for $29 per share in cash, subject to Kanbay shareholder and regulatory approval. About Kanbay International, Inc. Founded in 1989, Kanbay International, Inc. (KBAY) is a global IT services firm with approximately 6,900 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 and Melbourne. Further information about Kanbay can be found at http://www.kanbay.com/ . About Liberata Liberata http://www.liberata.com/ is one of the UK's leading providers of outsourced business processes. With over 3,800 employees and more than 20 business centers across the UK, Liberata improves, streamlines and simplifies complex back-office processes, while reducing costs and delivering service excellence. Liberata works with public sector bodies including central government organizations and more than 20 local authorities, delivering over 50% of the outsourced revenue and benefits services in local government. Liberata also manages nearly 4m Life & Pensions policies for providers including AXA Life and Barclays Life. Liberata is a Sunday Times Top Track 250 company, and a winner of the National Outsourcing Association's 2006 'Best Business Process Outsourcing Project of the Year' award. 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 Form 10-Q for the quarterly period ending March 31, 2006. DATASOURCE: Kanbay International, Inc. CONTACT: Megan Grabos of Kanbay, +1-312-861-4710, , or Megan Douglas of Liberata, +44-77899-26410, Web site: http://www.kanbay.com/ http://www.liberata.com/

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