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IMMEDIATE JOHN PRATT, CONVERGYS PUBLIC RELATIONS
513-723-3333 OR 888-284-9900
E-MAIL: john.pratt@convergys.com
CHRIS PERRY, EDELMAN WORLDWIDE
312-240-2688 OR cperry@edelman.com
CONVERGYS CORPORATION ANNOUNCES
TENDER OFFER FOR WIZTEC SOLUTIONS LTD.
(CINCINNATI; MARCH 26, 1999) - - CONVERGYS (SM) CORPORATION ANNOUNCED TODAY THAT
ITS BOARD OF DIRECTORS HAS AUTHORIZED ITS WHOLLY-OWNED SUBSIDIARY, CONVERGYS
ISRAEL INVESTMENTS LTD., TO ACQUIRE THROUGH A TENDER OFFER ALL OF THE
OUTSTANDING SHARES OF WIZTEC SOLUTIONS LTD., (NASDAQ: WIZTF), NOT BENEFICIALLY
OWNED BY CONVERGYS, AT A PRICE OF $18.30 PER SHARE NET TO SELLER IN CASH. THIS
REPRESENTS A 10 PERCENT PREMIUM OVER THE CLOSING PRICE OF WIZTEC ON MARCH 25. IT
ALSO REPRESENTS A 20 PERCENT PREMIUM OVER THE $15.25 PER SHARE PRICE PAID MARCH
2, 1999, TO WIZTEC'S THEN CONTROLLING STOCKHOLDER FOR 50 PERCENT OF THE SHARES.
CONVERGYS IS THE GLOBAL LEADER IN PROVIDING OUTSOURCED, INTEGRATED, CUSTOMER
CARE AND BILLING SERVICES, AND WIZTEC IS A LEADING PROVIDER OF SUBSCRIBER
MANAGEMENT SYSTEMS FOR MULTI-CHANNEL SUBSCRIPTION TELEVISION.
CONVERGYS CURRENTLY OWNS APPROXIMATELY 70 PERCENT OF WIZTEC.
THE TENDER OFFER IS SUBJECT TO A NUMBER OF CONDITIONS THAT ARE DETAILED IN THE
OFFER TO PURCHASE THAT WILL BE DISTRIBUTED TO THE WIZTEC STOCKHOLDERS BEGINNING
APRIL 1, 1999. THE TENDER OFFER IS SCHEDULED TO EXPIRE AT MIDNIGHT, WEDNESDAY,
APRIL 28, 1999.
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THE INFORMATION AGENT IS GEORGESON & COMPANY, INC., AND THE DEPOSITORY BANK IS
IBJ WHITEHALL BANK & TRUST COMPANY. THE TENDER OFFER DOCUMENTS ARE AVAILABLE
FROM THE INFORMATION AGENT.
THIS NEWS RELEASE IS NOT AN OFFER OR THE SOLICITATION OF AN OFFER TO BUY ANY
SECURITIES OF WIZTEC SOLUTIONS LTD., AND NO SUCH OFFER OR SOLICITATION WILL BE
MADE EXCEPT IN COMPLIANCE WITH APPLICABLE SECURITIES LAWS.
ABOUT CONVERGYS
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CONVERGYS CORPORATION IS THE GLOBAL LEADER IN PROVIDING OUTSOURCED, INTEGRATED,
CUSTOMER CARE AND BILLING SERVICES, BRINGING TOGETHER WORLD-CLASS RESOURCES AND
EXPERTISE TO HELP CLIENTS TRANSFORM CUSTOMER RELATIONSHIPS INTO A COMPETITIVE
ADVANTAGE.
CONVERGYS SOFTWARE PRODUCES MORE THAN ONE MILLION BILLS EACH DAY, AND CONVERGYS
CALL CENTERS HANDLE MORE THAN ONE MILLION CALLS EACH DAY.
CONVERGYS SERVES THE TOP COMPANIES IN A WIDE RANGE OF INDUSTRIES, INCLUDING
COMMUNICATIONS, TECHNOLOGY, CABLE AND BROADBAND SERVICES, CONSUMER PRODUCTS,
FINANCIAL SERVICES, UTILITIES, HEALTHCARE, HOSPITALITY, AND DIRECT RESPONSE.
HEADQUARTERED IN CINCINNATI, OHIO, CONVERGYS EMPLOYS OVER 33,000 PEOPLE AT ITS
MORE THAN 30 CALL CENTERS, DATA CENTERS, AND OTHER OFFICES IN THE UNITED STATES,
CANADA, AND EUROPE. CONVERGYS (NYSE:CVG) IS ON THE WEB AT www.convergys.com
CONVERGYS IS PRONOUNCED: KUN VER JIS CONVERGYS AND THE CONVERGYS LOGO ARE
SERVICE MARKS OF CONVERGYS CORPORATION.
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