Computer Sciences Corporation and Policy Management Systems Corporation, d/b/a Mynd

Rough Notes, Dec 2000

Computer Sciences Corporation and Policy Management Systems Corporation, d/b/a Mynd, announced they have entered into an agreement where CSC will acquire Columbia, South Carolina-based Mynd.

The acquisition of Mynd, a provider of systems, services, sourcing, and e-business solutions to the global insurance and related financial services industries, enhances CSC's ability to service its clients in those industries. Mynd will become part of CSC's global Financial Services Group headquartered in Austin, Texas.

Mynd, which until earlier this year did business as Policy Management Systems Corporation, had revenues of $644 million for the company's fiscal year ended December 31, 1999. Once the merger is completed CSC will have global revenues of over $2.7 billion in the financial services information technology (IT) industry.

CSC is one of the world's leading consulting and IT services firms. Through numerous agreements with hardware and software firms, CSC develops and manages solutions specifically tailored to each client's needs. For more information, visit the company's Web site (www.csc.com).