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Energy Consultants Form Information Services Joint Venture

Energy Consultants Form Information Services Joint Venture

Hagler Bailly Inc. and Cap Gemini SA and subsidiary Cap Gemini America Inc. formed a joint venture to deliver information technology consulting services and solutions to electric, gas and water utilities and service providers in the United States and Canada.

The joint venture, known as Cap Gemini Hagler Bailly LLC, will be owned equally by Hagler Bailly and Cap Gemini America. The partners will each invest capital in the venture and transfer key senior professionals to it. Concurrently with the creation of the joint venture, Cap Gemini is purchasing 470,975 newly issued shares of Hagler Bailly common stock. The LLC will build on Hagler Bailly's consulting engagements in the United States and Canada and go to market with a series of offerings.

Founded in 1967, Cap Gemini ranks in the top five Information Technology (IT) services firms in the world, ranks No. 1 in Europe in the telecommunication industry and is a leader in the electric and gas industries as well. Cap Gemini reported revenues of $4 billion in 1997. It employs 35,000 people in 15 European countries, the United States and the Far East.

"We now can deliver to our clients strategy, business operations and information technology consulting and implementation in a fully integrated fashion," said Henri-Claude Bailly, CEO of Hagler Bailly. "The IT capabilities of Cap Gemini are formidable and range from IT consulting to systems integration, software development and outsourcing. Their experience in the U.K. and Sweden, two markets ahead of the transformations now affecting U.S. and Canadian utilities, combined with their IT capabilities in the U.S., will be extremely valuable to our clients."

Cap Gemini Hagler Bailly will be headquartered in the Washington, DC metropolitan area and is expected to be fully operational by September 1998.

High-end IT solutions include: advanced trading and risk management systems, customer care and billing systems, and network energy logistics where information becomes a substitute for pipes and wires capacity resulting in margin transfer from the physical delivery system to the IT-based Knowledge System.

Founded in 1980 and publicly traded since July 1997, the Arlington, VA-based Hagler Bailly offers professional services to corporate and government clients worldwide with a focus on energy and network industries. Over the past 12 months, Hagler Bailly has completed several acquisitions and announced on June 11 that it had signed a merger agreement with Putnam, Hayes &amp Bartlett.

Joe Fisher, Houston

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