Renodis Acquires Sequoia Solutions; Expands Global Outsourcing Offering.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Sept. 24, 2002

Renodis, a leading provider of global outsourcing solutions, today announced it has acquired Sequoia Solutions, a leading offshore outsourcing consultancy focused on assisting companies to significantly reduce costs,

Sequoia Solutions CEO Chintan Gohil joins Renodis in a senior position. Gohil brings an exceptional combination of extensive client relationships, proven sales leadership and offshore outsourcing experience to Renodis.

"We are excited to have the Sequoia team join our company," said Praba Manivasager, Renodis ceo. "The team expands our Business Process Outsourcing (BPO) and offshore delivery expertise, particularly within the telecommunications industry vertical. The Sequoia team has strong relationships with many of the nation's top telecommunications companies, which are aggressively looking for ways to cut costs."

According to Mass-based research firm IDC, worldwide spending on BPO services totaled $712 billion in 2001 and is projected to grow to $1.2 trillion by 2006. India is positioned to capture a significant portion of that business and emerge as the 'preferred destination hub' for BPO services according to management consulting firm, McKinsey & Company.

"The global outsourcing industry is continuing to witness an incredible increase of mainstream corporations investigating how to achieve cost-saving benefits," said Gohil. "Yet the complexities of doing outsourcing offshore are significant and there are potential financial, operational, and political risks. The combined companies will be able to seamlessly provide clients with end-to-end offshore outsourcing solutions."

About Renodis, Inc.

Renodis is a global outsourcing solutions provider that helps companies generate shareholder value through strategic sourcing of services. Using a unique model of risk sharing, Renodis' onshore and offshore teams provide clients with the opportunity to leverage highly skilled labor in lower-cost countries to dramatically reduce costs and improve quality. With a Global Partner Network of pre-qualified offshore vendors, Renodis ensures world-class outsourcing solutions are delivered to each of its clients. Founded in 2001, Renodis focuses on Global 5000 and high-growth middle market firms. Renodis is headquartered in Minneapolis with offices in Chennai and Mumbai, India.

For more information, contact Renodis at 952-943-8011 or visit www.renodis.com.