New York City Recognizes Cambridge Solutions for Excellence in Technology

Worksource1 Recognized as “Best Application Serving an Agency’s Business Needs”

Bangalore, India, February 23, 2007 - Cambridge Solutions Ltd. (“Cambridge”), one of the leading knowledge-based ITO and BPO firms in the world, announced that the WorkSource1 web-based system developed for the New York City Department of Small Businesses Services (SBS), has been awarded the “Best Application Serving an Agency’s Business Need” at the New York City’s Excellence in Technology Award Program (ETAP).
Designed to support the business operations at the eight New York City Workforce1 Career Centers, WorkSource1 has led to better efficiency, increased accountability and improved coordination across the Centers, resulting in dramatic improvements in job placements. Since SBS began managing the City’s Workforce1 Career Centers, job placements have risen from 127 per quarter to over 4,300 per quarter.

“This recognition from New York City is further endorsement of the strength of our IT services and our ability to customize and create winning solutions for our customers,” said Dilip Keshu, chief strategy/corporate development officer and president, ITO, Cambridge Solutions.

Managed by SBS, the NYC Workforce1 Career Centers, which are located in all five boroughs of New York, provide a full array of employment services including job placement, career advice, job search counseling and skills training. “The close partnership we have been able to forge with Cambridge Solutions has been an integral part of our success at SBS,” stated Scott Zucker, Deputy Commissioner of Workforce Development at SBS. “In a short time, they have been able to understand our complex business needs, establish credibility with our staff, and provide business and technical expertise. They have demonstrated a passion for raising the bar on performance and service excellence. We are certain that our partnership with Cambridge will help impact the lives of more New Yorkers in the days to come.”

The Career Centers use Worksource1 to share information about customers, enabling staff to better target customer needs and provide better service. The case management functionality includes modules to capture case notes, job placements, services consumed and retention activities. Management reports provide a window into performance that then informs programmatic decision-making. The system has streamlined workflow in the Centers, reducing the time it takes to perform data entry. Additionally, Worksource1 is currently being enhanced to improve the ability to search the database of jobseekers based on specific skills and experiences that match with job criteria as well as the ability to track referrals of those jobseekers to job orders, allowing SBS to automatically record outcomes, calculate efficiency ratios, and "refer to hire" ratios. Worksource1 also facilitates coordination and information sharing between the Workforce1 Career Centers and NYC Business Solutions Hiring and Training which reaches out to businesses to understand their needs and ensure they are incorporated in improved recruitment and employment preparation strategies.

The Excellence in Technology Award Program (ETAP) honors the very best of New York City’s IT staff and projects each year, and is hosted in conjunction with the annual New York City Technology Forum sponsored by Government Technology Magazine and the Center for Digital Government.

About Cambridge Solutions Ltd.
Cambridge Solutions Ltd. (HQ: Bangalore, India; USHQ: Greenwich, CT.) is a strategic global outsourcing firm with deep expertise in:

• Information Technology Outsourcing (ITO); business consulting, application implementation, software engineering, maintenance and support services
• Business Process Outsourcing (BPO) for insurance, banking and financial services companies; process consulting; transaction processing, finance and accounting back office support; claims and risk management services; inbound and outbound contact centers to support all of these activities; and other processes that require knowledge-based decision making.
  

The company employs more than 4,300 professionals serving customers on 4 continents through more than 80 locations worldwide. With offices in the USA, Europe, India, Singapore, and Australia, Cambridge serves Fortune 500 firms, insurance and financial services companies, and public entities around the world.

The company’s BPO subsidiary was named one of the top three best performing BPO companies by Global Services media and neoIT in 2006 and 2007, ranked as one of the top three leaders in human capital development, and ranked as the 28th leading outsourcing company in the world in the International Association of Outsourcing Professionals (IAOP)’s “2006 Global Outsourcing 100” list that appeared in a special advertising section in Fortune Magazine. The company is listed on the major stock exchanges of India (BSE, NSE, MSE & ASE) under the ticker “CAMBRIDGE”. For more information, kindly visit: www.cambridgeworldwide.com.

For more info on Cambridge, visit www.cambridgeworldwide.com

Safe Harbor
Certain statements in this release are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services, including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns in fixed price, fixed time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, etc. The company does not undertake to update any forward looking statement that may be made from time to time by or on behalf of the company.

Media Contacts:

Melissa Arulappan
Corporate Voice|Weber Shandwick
Phone: (91) 98450-22389
melissa@corvoshandwick.co.in

Pradeep Chaudhry, CFO
Cambridge Solutions Ltd.
Phone: (91) 98860-10174
pradeep.chaudhry@cambridge-asia.com

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