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The decision to select PricewaterhouseCoopers was made after careful consideration by iGATE's Audit Committee, Board of Directors, and senior management and concludes an extensive evaluation process. The decision was not the result of any disagreement between the Company and Arthur Andersen on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
"Arthur Andersen has done excellent and professional work for iGATE during its tenure as the company's auditors, and we have the highest regard for the team that has served iGATE," said Michael Zugay, Senior Vice President and Chief Financial Officer of iGATE Corporation.
Mr. Zugay added that "iGATE and PricewaterhouseCoopers have a plan for an orderly transition that will be completed in time for PricewaterhouseCoopers to review iGATE's second quarter earnings report and position PricewaterhouseCoopers to issue a timely audit report on the company's financials for the fiscal year ending December 31, 2002. We look forward to working with PricewaterhouseCoopers in its new role as our independent auditor."
Headquartered in Pittsburgh, iGATE Corporation (Nasdaq: IGTE) offers a comprehensive range of Information Technology solutions to more than 500 clients across five continents. Our employees specialize in areas such as offshore outsourcing, enterprise applications and IT staffing -- all available via a variety of strategic delivery models. Clients rely on iGATE because of our high quality of service, our responsiveness and our cost-effective global reach. More information on iGATE is available at www.igatecorp.com.
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Web site: http: //www.igatecorp.com
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CONTACT: Media Relations, Michael Harris, +1-412-503-4447, or email@example.com, or Investor Relations, Laureen Laby, +1-412-503-4456, or firstname.lastname@example.org, both of iGATE
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|"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding iGATE Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.|