DENVER, Sept. 17 /PRNewswire/ -- TeleTech Holdings, Inc., (Nasdaq: TTEC),
a leading global provider of customer relationship management (CRM) services
and solutions today announced that in light of recent events and near-term
uncertainty in financial markets, its board of directors has authorized a
stock repurchase program of up to 10 percent of its common stock outstanding.
"We have tremendous belief in the long-term value of our franchise and in
the resiliency of our financial markets," said Ken Tuchman, chairman and CEO
of TeleTech Holdings. "We will continue to monitor the ongoing trading
patterns of our stock and repurchase shares as and if appropriate based on
market conditions."
The share repurchase is pursuant to and in accordance with the Securities
and Exchange Commission's September 14, 2001 Emergency Order Pursuant to
Section 12(k)(2) of the Securities and Exchange Act of 1934 Taking Temporary
Action to Respond to Market Developments.
Any purchases under TeleTech's stock repurchase program may be made,
from time-to-time, in the open market, through block trades or otherwise.
Depending on market conditions and other factors, these purchases may be
commenced or suspended at any time or from time-to-time without prior notice.
As of September 17, 2001, TeleTech has approximately 77 million shares
outstanding.
TeleTech Profile
Founded in 1982, TeleTech is the leading provider of integrated customer
relationship management solutions (CRM) for global organizations predominantly
in the communications, financial services, technology, government and
transportation industries. TeleTech has operations in twelve countries
including Argentina, Australia, Brazil, Canada, China, Northern Ireland,
Mexico, New Zealand, Scotland, Singapore, Spain and the U.S. TeleTech's CRM
capabilities including B2B electronic channel management and database
management, help companies inform, acquire, serve, grow and retain their
customers throughout the entire relationship lifecycle. TeleTech integrates a
full spectrum of voice and Internet communications, including e-mail response,
"chat" and extensive Web co-browsing capabilities. Information regarding
TeleTech Holdings can be found on the Worldwide Web at
http://www.teletech.com.
FORWARD LOOKING STATEMENTS
All statements not based on historical fact are forward-looking statements
that involve substantial risks and uncertainties. In accordance with the
Private Securities Litigation Reform Act of 1995, following are important
factors that could cause TeleTech's actual results to differ materially from
those expressed or implied by such forward-looking statements. Such
differences could be caused by a number of factors, including, but not limited
to: the uncertainty of the company's ability to purchase shares of its common
stock pursuant to the Board's authorization; the uncertainty of the effect of
any share repurchases upon the company and its shareholders; changes in
economic, political or regulatory environments; or changes in competition.
Readers are encouraged to review TeleTech's 2000 Annual Report on Form 10-K,
first and second quarter 2001 Form 10-Qs, and other publicly filed documents
which describe other important factors that may impact TeleTech's business,
results of operations and financial condition. TeleTech undertakes no
obligation to update its forward-looking statements after the date of this
release.
For further information, please contact: Investor Relations, Karen Breen,
+1-303-397-8592, Karen.breen@teletech.com, or Dan Campbell, +1-303-397-8634,
Dan.campbell@teletech.com, both of TeleTech Holdings, Inc.
SOURCE TeleTech Holdings, Inc.
CONTACT: Investor Relations, Karen Breen, +1-303-397-8592,
Karen.breen@teletech.com, or Dan Campbell, +1-303-397-8634,
Dan.campbell@teletech.com, both of TeleTech Holdings, Inc./
