KBAY Kanbay International (MM)

Multi-Year Renewal Contract Follows Successful Completion of SAP Optimization Project for Leading Homebuilding Company ROSEMONT, Ill., Aug. 8 /PRNewswire-FirstCall/ -- Kanbay International, Inc. (NASDAQ:KBAY), a global management consulting, technology integration and development, and outsourcing firm, today announced that its subsidiary, Adjoined Consulting, has recently entered into multiple, multi-million dollar, three-year agreements to provide high-end information technology outsourcing solutions, including managed services, hosting and managing business applications in its state-of-the-art data centers for Walter Industries, Inc. and its subsidiary U.S. Pipe and Foundry. The company also announced that it has successfully helped Walter Industries and U.S. Pipe complete post-implementation support, analyze supply chain procedures and optimize SAP supply chain management processes. Walter Industries will be the first client since Kanbay's acquisition of Adjoined Consulting in March to take advantage of the new, high-bandwidth offerings between the global IT service provider's data centers in Boston and Phoenix. These offerings provide the capability to economically mirror data in near real-time between the sites. Walter Industries' business applications are managed out of the data center in Boston. The Kanbay Phoenix data center has the infrastructure to provide backup and recovery of critical information technology assets such as hardware, networks and application software in the event that Walter Industries requires support in the wake of a natural disaster or other emergency, eliminating the need for a third-party provider. "When our application and management support needs expanded, Jim Tolleson, Director of Information Technology for U.S. Pipe, and I brought these issues before the management of Kanbay," said Ralph Jernigan, Walter Industries' director, Corporate Information Technology. "Kanbay responded with a reliable and secure solution that offered improved service at no additional cost. Kanbay's unique services model and deep domain expertise allow us to optimize our applications for a maximum return on investment, while having the flexibility to leverage a proven on-shore, off-shore global delivery platform to meet future requirements." Each of Kanbay's data centers can also provide disaster recovery services for clients whose applications are not necessarily hosted by Kanbay. Kanbay rounds out its offerings by providing a full suite of business continuity planning services. "We're thrilled to have Walter Industries as the first client to utilize our scalable network technologies," said Michael Rosenbloom, executive director for Kanbay's Outsourcing Solutions. "By offering end-to-end infrastructure solutions that are tuned to best-in-class business practices, Kanbay helps improve performance and reduce costs while allowing customers to redeploy assets/investments and remain focused on their core competencies." In streamlining Walter Industries' enterprise and supply chain operations, Adjoined closely analyzed the homebuilder's purchasing and procurement functions in early 2005 to evaluate whether costs were in line with revenues. As raw material costs skyrocketed and catastrophic weather events threatened to interrupt supply chain activities, it was clear that profitability could be improved and costs reduced to allow Walter Industries to adapt quickly to changing business conditions. Walter Industries' has since developed tools within SAP functionality that can assess the profitability of each individual home under construction. "We were seeking a very specific type of partner to support us in our efforts to streamline the supply chain management process," said Jernigan. "Kanbay's and Adjoined's unique, high-value model offered a powerful combination of on- and off-site technology expertise coupled with deep understanding of the industrial products industry that allowed us to achieve the most efficient and effective consulting model. The real efficiency gained is the ability to access a wide range of key skill sets on an as needed basis. This adds tremendous depth to our very capable internal staff." "We provided world-class benchmarking and process redesign services to ensure that Walter Industries' SAP application was configured for maximum efficiency and effectiveness," said David Northington, managing director of Kanbay's Enterprise Resource Planning practice. "We were delighted that we have the flexibility to meet the company's technology needs, while helping Walter Industries achieve a more accurate picture of profitability on a house- by-house basis. We look forward to continuing the relationship." Now that Kanbay has acquired Adjoined Consulting and is integrating with Adjoined, Kanbay believes that it will be well-positioned in the market for growth with access to engagements with clients such as Walter Industries. "The acquisition brings consumer and industrial products expertise, as well as SAP, Oracle, and business intelligence skills," writes Forrester analyst Stephanie Moore in the February 2006 report entitled "Kanbay Acquires Adjoined Consulting." "It also brings Kanbay a strong U.S.-based consulting team as well as an impressive customer list." About Kanbay International, Inc. Founded in 1989, Kanbay International, Inc. (NASDAQ:KBAY) is a global IT services firm with more than 6,500 associates worldwide. Kanbay provides a highly integrated suite of management consulting, technology integration and development, and outsourcing solutions through a proven global delivery platform to clients focused on Financial Services and Consumer & Industrial Products, as well as an emerging presence in the Communications & Media and Life Sciences industries. Kanbay is a CMM Level 5 assessed company headquartered in greater Chicago with offices in North America and India as well as London, Singapore, Hong Kong, Tokyo and Melbourne. Further information about Kanbay can be found at http://www.kanbay.com/. Forward-Looking Statements This release contains statements relating to projections or future results. These statements are forward-looking statements under the federal securities laws. We can give no assurance that any projections or future results discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" disclosure in our Quarterly Report on Form 10-Q for the period ending March 31, 2006. DATASOURCE: Kanbay International, Inc. CONTACT: Megan Grabos, +1-312-861-4710, , for Kanbay International, Inc. Web site: http://www.kanbay.com/

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