SITEL Shareholders Vote in Favor of Merger with ClientLogic

ClientLogic Corporation and SITEL Corporation, both leading global business process outsourcing providers, announced today that at SITEL’s 2006 Annual Meeting, held earlier today, SITEL’s shareholders voted to approve the proposed merger with ClientLogic Corporation. More than 71.9 million, or approximately 96%, of SITEL’s outstanding common shares were voted at the meeting, with more than 97% of voted shares voting in favor of the merger. The merger is expected to close in late January 2007 or early February 2007. The merger has been cleared by the U.S. Federal Trade Commission, the European Commission and the Canadian Commissioner of Competition. Under the terms of the merger agreement approved by SITEL shareholders, SITEL shareholders will receive $4.25 per share in cash.
 
Jim Lynch, Founder, Chairman and CEO of SITEL Corporation, stated, "We’re extremely pleased to see that our shareholders recognize the significant value created from the merger with ClientLogic. I am also happy that our loyal employees have an opportunity to join a combined company that will be a leader in our industry for years to come. I thank our shareholders, clients, and employees for their years of support and dedication."

Dave Garner, CEO and President of ClientLogic, commented, "We look forward to the completion of the deal and the ability to combine these two excellent companies, creating the industry leader. Our continued focus will be to ensure that we deliver the utmost benefit to our valued clients, associates, and other stakeholders."

At the annual meeting, SITEL’s shareholders also voted to re-elect current directors Rohit Desai, David Hanger and Stephen Key as Class II directors to serve on SITEL’s Board of Directors until the closing of the merger.