Elkridge, MD. June 19, 2007. Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), announced today that it has signed an agreement with CIGNA Corporation to provide outsourced training services. GP will be providing a broad range of capabilities to meet the immediate and strategic needs of CIGNA University including a SumTotal Learning Management System (LMS), training administration support, help desk and vendor management. Expanded GP capabilities needed by the university to support CIGNA’s business objectives are under consideration.
“After a comprehensive selection process we are pleased that CIGNA selected GP for a full range of outsourced training services”, said Douglas Sharp, President of GP.
“The selection of GP by CIGNA demonstrates our ability to deliver comprehensive training business process outsourcing solutions to Fortune 500 companies. It is anticipated that after the initial rollout, CIGNA will become a top 10 customer in terms of revenue to GP”, said Scott Greenberg, CEO of GP.
GP is the principal operating subsidiary of GP Strategies Corporation (NYSE: GPX). GP is a global performance improvement solutions provider of training and e-Learning solutions, management consulting and engineering services. Through its Sandy Corporation division, GP provides custom sales training solutions. GP’s solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpworldwide.com.
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CIGNA Corporation (NYSE: CI) and its subsidiaries, with total assets of $44 billion and an employee base of approximately 26,500, constitute one of the largest publicly-owned employee benefits organizations in the United States and throughout the world. Its subsidiaries are major providers of employee benefits offered through the workplace, with products and services including health care, group life, accident and disability insurance, dental, vision, behavioral health, and pharmacy.
Scott N. Greenberg
Chief Executive Officer
Chief Financial Officer