KBAY Kanbay International (MM)

ROSEMONT, Ill., Jan. 10 /PRNewswire-FirstCall/ -- Kanbay International, Inc. (NASDAQ:KBAY) today announced that it has scheduled a special meeting of stockholders for Thursday, February 8, 2007, to vote on its previously announced merger transaction with Cap Gemini SA and Capgemini Financial Services, Inc. (Logo: http://www.newscom.com/cgi-bin/prnh/20050830/CGTU033LOGO ) The special meeting of stockholders will take place at 9:00 a.m., Central Standard Time, at Kanbay's principal executive offices, 6400 Shafer Court, Suite 100, Rosemont, Illinois 60018. Stockholders of record as of the close of business on January 9, 2007 will be entitled to vote on the transaction. Kanbay has filed its definitive proxy materials with the SEC and plans to mail these materials to its stockholders on or about January 12, 2007. The completion of the merger is conditioned upon Kanbay stockholder approval. Upon approval by at least a majority of the outstanding shares entitled to vote, it is expected that the transaction will close promptly following the special meeting, subject to satisfaction or waiver of all other conditions to the completion of the merger. 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/ . Forward-Looking Statements This press release contains forward-looking statements under the federal securities laws. Forward-looking statements with respect to the completion of the proposed transaction are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in such statements. We can give no assurance that any future results discussed in these statements will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, and any such forward-looking statements are qualified in their entirety to the cautionary statements contained in this press release. Neither Cap Gemini nor Kanbay updates forward-looking statements and expressly disclaims any obligation to do so. Additional Information and Where to Find It In connection with the proposed acquisition of Kanbay by Cap Gemini and the required stockholder approval, Kanbay filed on January 10, 2007 with the Securities and Exchange Commission (the "SEC") a definitive proxy statement. KANBAY'S STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE ACQUISITION AND KANBAY. Investors and security holders may obtain free copies of these documents (when they are available) and other documents filed with the SEC at the SEC's web site at http://www.sec.gov/ . In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Kanbay by going to Kanbay's Investors page on its corporate website at http://www.kanbay.com/ . Kanbay and its executive officers and directors may be deemed to be participants in the solicitation of proxies from Kanbay's stockholders with respect to the proposed acquisition. Information about Kanbay's executive officers and directors and their ownership of Kanbay common stock is set forth in the definitive proxy statement, which was filed with the SEC on January 10, 2007. Investors and security holders may obtain information regarding the direct and indirect interests of Kanbay and its executive officers and directors in the proposed acquisition by reading the definitive proxy statement regarding the proposed acquisition. In addition, Cap Gemini and its executive officers and directors may be deemed to have participated in the solicitation of proxies from the stockholders of Kanbay in connection with the transaction described herein. Information regarding the special interests of these directors and executive officers is included in the definitive proxy statement to be circulated in connection with the transaction. Additional information regarding these directors and executive officers is also included in Cap Gemini's information statements and publicly available reports. These documents are available from Cap Gemini at http://www.capgemini.com/ , by mail at 11, rue de Tilsitt, Paris 75017, France or by phone at 33-1-47-54-5400. http://www.newscom.com/cgi-bin/prnh/20050830/CGTU033LOGO http://photoarchive.ap.org/ DATASOURCE: Kanbay International, Inc. CONTACT: Seth R. Frank of Kanbay International, Inc., +1-847-384-4732 Web site: http://www.kanbay.com/

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