DENVER, March 10 /PRNewswire-FirstCall/ --
TeleTech Holdings, Inc., (Nasdaq: TTEC), a leading global provider of customer
management solutions, today announced its Board of Directors authorized a
continuation of its share repurchase program, to acquire up to an additional
$25 million of TeleTech common stock.
Since authorization of the program by its Board of Directors in late 2001,
TeleTech has acquired 3.8 million shares for $25 million.
The number of shares to be purchased will vary based on several factors,
including market conditions, the level of employee stock option exercises and
other relevant factors. Any purchases under TeleTech's stock repurchase
program may be made, from time-to-time, in the open market or in privately
negotiated transactions, through block trades or otherwise at management's
discretion. Depending on market conditions and other factors, these purchases
may be commenced or suspended at any time without prior notice.
"I firmly believe in the strength of TeleTech's industry position and our
continued ability to capitalize on the significant market opportunity for
outsourced customer management solutions," said Kenneth Tuchman, TeleTech's
Chairman and Chief Executive Officer. "Share repurchase programs are an
effective way to deliver additional value to shareholders and we are pleased
to continue our share repurchase program in 2003."
As of March 10, 2003, TeleTech has approximately 75 million shares
outstanding.
TELETECH PROFILE
For twenty years, TeleTech has managed the customer experience for some of
the world's largest enterprises. TeleTech's innovative customer care services
help companies acquire, serve, grow, and retain customers throughout the
entire relationship lifecycle. TeleTech offers solutions to a variety of
industries including financial services, transportation, communications,
government, healthcare, and travel. With a presence that spans North America,
Asia-Pacific, Europe, and Latin America, TeleTech provides comprehensive
customer care services to global organizations. Additional information on
TeleTech can be found at 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, including:
TeleTech's ability to predict future revenue and associated costs; lower than
anticipated customer interaction center capacity utilization; the loss or
delay in implementation of a customer management program; TeleTech's ability
to build-out facilities in a timely and economic manner; greater than
anticipated competition from new entrants into the customer care market,
causing increased price competition or loss of clients; the loss of one or
more significant clients; higher than anticipated start-up costs associated
with new business opportunities and ventures; the potential volume or
profitability of any future technology or consulting sales; TeleTech's
agreements with clients may be canceled on relatively short notice; and
TeleTech's ability to generate a specific level of revenue is dependent upon
customer interest in and use of the products and services of TeleTech's
clients. Readers are encouraged to review TeleTech's 2001 Form 10-K, first,
second and third quarter 2002 Forms 10-Q, 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.
SOURCE TeleTech Holdings, Inc.
