CGI Group Inc. obtains approval for the renewal of its Normal Course Issuer Bid



    Stock Market Symbols
    GIB.A (TSX)
    GIB (NYSE)

    MONTREAL, Feb. 5 /CNW Telbec/ - CGI Group Inc. (TSX: GIB.A; NYSE:   GIB)
announced today that its Board of Directors has authorized the renewal of its
Normal Course Issuer Bid (NCIB) and that such NCIB has received regulatory
approval from the Toronto Stock Exchange.
    The Company's management and Board of Directors believe that the
repurchase of Class A subordinate shares of the Company is a proper use of the
Company's funds, and the NCIB will provide the Company with the flexibility to
purchase Class A Shares from time to time as the Company considers it
advisable, as part of its strategy to increase shareholder value.
    At the close of business on January 31, 2008, there were
289,338,015 Class A Shares outstanding of which approximately 98.5% were
widely held (representing a public float of 285,029,415 Class A Shares).

    Under the terms of the NCIB as approved by the Toronto Stock Exchange:

    
    - the Company may purchase for cancellation on the open market through
      the facilities of the TSX up to 28,502,941 Class A Shares, representing
      approximately 10% of the Company's public float as of the close of
      business on January 31, 2008. All Class A Shares will be purchased at
      their market price at the time of acquisition;

    - daily repurchases will be limited to 256,584 Class A Shares, being 25%
      of the average daily trading volume of the Class A Shares for the past
      six months, other than block purchase exemptions; and

    - purchases of Class A Shares may commence on February 7, 2008 and will
      expire on the earlier of February 6, 2009 or the date on which the
      Company has either acquired the maximum number of Class A Shares
      allowable under the NCIB or otherwise decided not to make any further
      repurchases under the NCIB.
    

    Under the terms of its normal course issuer bid that commenced on
February 5, 2007 and expired on February 4, 2008, the Company purchased for
cancellation 11,847,700 Class A Shares. These purchases were made through the
facilities of the Toronto Stock Exchange at an average purchase price of
$10.72601.

    About CGI

    Founded in 1976, CGI Group Inc. is one of the largest independent
information technology and business process services firms in the world. CGI
and its affiliated companies employ approximately 26,500 professionals. CGI
provides end-to-end IT and business process services to clients worldwide from
offices in Canada, the United States, Europe, Asia Pacific as well as from
centers of excellence in North America, Europe and India. CGI's annual revenue
run rate stands at $3.7 billion and at December 31st, 2007, CGI's order
backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the
NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the
S&P/TSX Capped Information Technology and MidCap Indices. Website:
www.cgi.com.

    Forward-Looking Statements

    All statements in this press release that do not directly and exclusively
relate to historical facts constitute "forward-looking statements" within the
meaning of that term in Section 27A of the United States Securities Act of
1933, as amended, and Section 21E of the United States Securities Exchange Act
of 1934, as amended, and are "forward-looking information" within the meaning
of sections 138.3 and following of the Ontario Securities Act, as amended.
These statements and this information represent CGI Group Inc.'s ("CGI")
intentions, plans, expectations and beliefs, and are subject to risks,
uncertainties and other factors, of which many are beyond the control of the
Company. These factors could cause actual results to differ materially from
such forward-looking statements or forward-looking information. These factors
include and are not restricted to the timing and size of new contracts,
acquisitions and other corporate developments; the ability to attract and
retain qualified members; market competition in the rapidly-evolving
information technology industry; general economic and business conditions,
foreign exchange and other risks identified in the Management's Discussion and
Analysis ("MD&A") in CGI's Annual Report or Form 40-F filed with the U.S.
Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in
CGI's annual and quarterly MD&A and Annual Information Form filed with the
Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as
assumptions regarding the foregoing. The words "believe," "estimate,"
"expect," "intend," "anticipate," "foresee," "plan," and similar expressions
and variations thereof, identify certain of such forward-looking statements or
forward-looking information, which speak only as of the date on which they are
made. In particular, statements relating to future performance are
forward-looking statements and forward-looking information. CGI disclaims any
intention or obligation to publicly update or revise any forward-looking
statements or forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable law.
Readers are cautioned not to place undue reliance on these forward-looking
statements or on this forward-looking information.




For further information:

For further information: Investor Relations: Lorne Gorber,
Vice-President, Global Communications and Investor Relations,
lorne.gorber@cgi.com, (514) 841-3355


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890