DENVER, Feb. 12 /PRNewswire-FirstCall/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), a global provider of customer solutions, has been awarded a
multiyear agreement by the General Services Administration for the U.S.
Department of State, Bureau of Consular Affairs.
Under terms of the agreement, TeleTech will support the Visa Information
Center program in Asia, the Pacific Rim and the Middle East as requested by
the Bureau of Consular Affairs. Initially, TeleTech will launch the program
in China and Hong Kong, providing Chinese citizens with the requirements for
applying for visas to the United States. TeleTech representatives also will
schedule requested appointments for citizens to appear at U.S. missions in
China to apply for their visas.
In response to the State Department's request to provide improved services
to Chinese citizens, TeleTech will create a solution that includes Web-based
self-service. This Web-based solution, presented in both English and Chinese,
enables citizens to receive visa-related information and to schedule their own
U.S. consulate appointments. The Web application is particularly important to
residents of Mainland China and Hong Kong, where citizens seeking to visit,
move to, or work in the United States come from disparate geographical
locations but are still able to access the Web via local Internet cafes or
"The Visa Information Center program is an important initiative for the
Bureau of Consular Affairs," said Leo R. Wollemborg, senior management
advisor, Office of the Executive Director, Bureau of Consular Affairs, U.S.
Department of State. "TeleTech's solution improves the visa issuance process
by providing enhanced security measures and superior service to foreign
citizens who wish to visit or work in the United States."
"We are proud to support the Visa Information Center program, which
demonstrates TeleTech's commitment to provide integrated global solutions for
the U.S. government," said Troy Cromwell, TeleTech's senior vice president of
government solutions. "Our solution will enable the Bureau of Consular
Affairs to achieve its strategic and operational goals through the use of
proprietary technology and global capabilities. This initiative demonstrates
our expanding government practice to meet the needs of civilian, defense and
homeland security requirements across the globe."
TeleTech is a global leader of integrated customer solutions designed to
help clients acquire and grow profitable relationships with their customers.
TeleTech has built a worldwide capability supported by more than
31,000 professionals in North America, Latin America, Asia-Pacific and Europe.
For additional information, visit 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 and its subsidiaries' actual results to
differ materially from those expressed or implied by such forward-looking
statements, including: under generally accepted accounting principles, the
revenues, expenses and profits associated with the launch of new client
agreements may be expensed up front or deferred over the life of the client
contract, and, accordingly, the profitability of these agreements may be
disproportionately skewed toward later periods; the impact to current and
future earnings related to the possibility of refinancing the company's
existing debt agreements, including the possibility of owing a make-whole
provision associated with the company's senior note agreements, the cost of
terminating the interest rate swap agreement, and the tax consequences of
repatriating cash from foreign locations, among others; economic or political
changes affecting the countries in which the company operates; greater than
anticipated competition in the customer care market, causing adverse pricing
and more stringent contractual terms; the risks associated with reduced
profitability from or the loss of one or more significant client
relationships; execution risks associated with operating individual client
programs to avoid incurring penalties; the renewal of client or vendor
relationships on favorable terms; higher than anticipated start-up costs
associated with new business opportunities and ventures; the company's ability
to find cost effective locations, obtain favorable lease terms and build or
retrofit facilities in a timely and economic manner; risks associated with
attracting and retaining cost-effective labor at the company's customer
management centers; consumers' concerns or adverse publicity regarding the
products of the company's clients; the company's ability to close new business
in 2004 and fill excess capacity; execution risks associated with achieving
the targeted $40 million in annualized cost savings; the possibility of
additional asset impairments and restructuring charges; the ultimate liability
associated with the amount of past sales or use tax obligations; risks
associated with changes in foreign currency exchange rates; changes in
accounting policies and practices promulgated by standard setting bodies; and,
new legislation or government regulation that impacts the customer care
industry. Readers should review the company's Form 10-K for the year ended
December 31, 2002, Forms 10-Q for the first, second and third quarters of 2003
and other documents filed with the Securities and Exchange Commission, which
describe in greater detail these and other important factors that may impact
the company's business, results of operations, financial condition and cash
flows. The company assumes no obligation to update its forward-looking
statements to reflect actual results or changes in factors affecting such
SOURCE TeleTech Holdings, Inc.