Solidifies Leadership Position in Mortgage
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
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.
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