Solidifies Leadership Position in Mortgage Outsourcing Market Business Editors NEWTOWN, Pa.--(BUSINESS WIRE)--July 16, 2003--ICT Group, INC. (NASDAQ:ICTG), a leading provider of customer relationship management (CRM) solutions, announced today it has signed a 3-year contract with GMAC Mortgage, one of the nation's top residential mortgage servicers and originators. GMAC Mortgage has chosen ICT because of its proven track record within the mortgage industry in providing reliable consistent, quality customer care and product support services. Under the terms of the agreement, ICT Group will provide customer care services for consumers of GMAC Mortgage, using a dedicated group of customer service representatives. Customers who call will get a trained ICT professional to assist them with such services as monthly mortgage statement questions, payment by phone, and inquiries regarding taxes and insurance. "We are pleased that GMAC Mortgage has chosen ICT Group to support their customer care initiatives," commented John J. Brennan, Chairman and CEO of ICT Group. "Our cost effective, scalable and efficient model combined with our expertise in the mortgage industry will provide GMAC Mortgage the flexibility needed to manage their business as it continues to grow." According to Anthony N. Renzi, Executive Vice President, GMAC Mortgage, "We selected ICT Group because they have the people, business processes and systems to provide a high level of service and meet the expectations of our customers." ABOUT GMAC MORTGAGE: GMAC Mortgage Corporation is among the nation's top ten residential mortgage servicers and originators. The company originates first and second lien residential mortgage loans through a nationwide network of retail offices, direct lending centers and Internet sites under the brands gmacmortage.com and ditech.com. GMAC Mortgage also offers custom mortgage services to GM employees and their family members, retirees and dealers through its GM Family First program. As of December 2002, GMAC Mortgage originated $70 billion residential mortgages, representing 553,994 transactions. The company's servicing portfolio of more than $198 billion represents 2 million customers throughout the nation. GMAC Mortgage is headquartered in Horsham, PA, and has about 1,400 employees in the greater Philadelphia region. ABOUT ICT GROUP: ICT GROUP, headquartered in Newtown, Pa., is a leading global provider of integrated customer relationship management (CRM) solutions. The Company helps clients identify, acquire, retain, service, measure and maximize the lifetime value of their customer relationships. The Company manages CRM service operations in the U.S., Europe, Canada, Australia, Mexico and the Caribbean from which it supports domestic and multinational corporations and institutions, primarily in the financial, insurance, telecommunications, healthcare, information technology, media and energy services industries. ICT GROUP also offers a full suite of hosted CRM solutions, for use by clients at their own in-house facility or on a co-sourced basis in conjunction with ICT GROUP's fully compatible Web-enabled customer service operations. To learn more about ICT GROUP, visit the Company's website at www.ictgroup.com. IMPORTANT CAUTIONARY INFORMATION REGARDING FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking statements, such as plans to increase capacity, ability to maintain growth momentum, and expected demand for services. The forward-looking statements involve assumptions and are subject to substantial risks and uncertainties. Whenever possible, forward-looking statements are preceded by, followed by or include the words "believes," "expects," "anticipates" or similar expressions, which speak only as of the date the statement is made. ICT GROUP assumes no obligation to update any such forward-looking statements. For such statements, ICT GROUP claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual events or results of operations, cash flows and financial condition of ICT GROUP may differ materially from those discussed in the forward-looking statements as a result of various factors, including without limitation, those discussed in ICT GROUP's annual report on Form 10-K for the year ended December 31, 2002, and other documents, such as reports on Form 8-K and other reports on Form 10-Q filed by ICT GROUP with the Securities and Exchange Commission. Although ICT GROUP believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from ICT GROUP's expectations, or that could materially and adversely affect ICT GROUP's financial condition, may include, but are not limited to the following, many of which are outside ICT GROUP's control: demand for ICT GROUP's services, the cost to defend or settle litigation against ICT GROUP, judgments, orders, rulings and other developments in litigation against ICT GROUP, unanticipated labor difficulties, ICT GROUP's capital and financing needs, ICT GROUP's ability to integrate acquired businesses, customer demand for a client's product, the client's budgets and plans, interest rates and other conditions affecting the client's industry, unanticipated contract or technical difficulties, identifying and opening planned contact centers within timeframes necessary to meet client demands, reliance on strategic partners, industry and government regulation, reliance on telecommunications and computer technology, general and local economic conditions, and competitive pressures in ICT GROUP's industry. These factors, as well as others, such as conditions in the securities markets and actual or perceived results or developments affecting companies in our industry, could affect the trading price of our common stock.
ICT GROUP Signs Three-Year Contract With GMAC Mortgage; Company