CHARTERHOUSE ACQUIRES CAP GEM E&Y UNIT AND LEADS $50 MILLION FINANCING

August 14, 2000



On August 14, 2000, Cap Gemini Ernst & Young U.S. announced the spin-off of its technology and solutions delivery practice as a stand-alone company named EYT to Charterhouse Group International ("Charterhouse"). Formerly Ernst & Young Technologies, EYT subsequently announced it has obtained first round financing of $50 million from a group of private investors led by Charterhouse with Softbank Venture Capital, Interliant, Inc. and EYT Management completing the group. Conway, Del Genio, Gries & Co., LLC served as advisors in both the spin-off and financing.

Conway, Del Genio, Gries & Co., LLC ("CDG"), is a firm providing specialized corporate finance advisory services focused on mergers and acquisitions and restructurings. For further information, please contact Robert A. Del Genio of CDG at (212) 813-1300.