Renaissance Worldwide Announces New Agreement With BankAmerica Corporation

Business Wire, Feb 26, 1999

NEWTON, Mass.--(BUSINESS WIRE)--Feb. 26, 1999--Renaissance Worldwide, Inc., a leading global provider of information technology (IT) and management consulting services (NASDAQ:REGI), today announced a new relationship with BankAmerica. The new interim credit facility of $110 million is underwritten by BankAmerica and will subsequently move to $150 million pursuant to a three-year agreement. This facility is expected to provide the company with its capital needs for the foreseeable future.

"BankAmerica is a premiere bank in the technology sector, and as one of the largest banks in the U.S., we could not be better positioned financially," said Drew Conway, president, chairman and CEO of Renaissance.

BankAmerica Corporation, with $618 billion in total assets, is the largest bank in the United States. It has full-service operations in 22 states and the District of Columbia and provides financial products and services to 30 million households and 2 million businesses.

Renaissance Worldwide, Inc. is a global business and technology consulting firm that provides focused solutions for breakthrough performance. Through its three core businesses - informatibusiness, networking, project management, and m designed to optimize time to return on investmhat involve a number of risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements, including availability of qualified consultants, integration of acquisitions, ability to sustain and manage growth, as well as the factors set forth in the Company's filings with the Securities and Exchange Commission. Renaissance, Renaissance Worldwide, and Concept-to-Completion are trademarks of Renaissance Worldwide, Inc.