Laura Field, Whittman-Hart, 312/913-3052
[email protected]
Beth Trier, USWeb/CKS, 415/357-8232
[email protected]
Shareholders Approve Merger of Whittman-Hart and USWeb/CKS
CHICAGO and SAN FRANCISCO - February 28, 2000 - Whittman-Hart (Nasdaq: WHIT) and USWeb/CKS (Nasdaq: USWB) today announced that shareholders of both companies overwhelmingly approved the merger of the two firms. The merger, scheduled to close Wednesday, March 1, creates a global professional services firm that helps clients win in the digital economy by strengthening the integration of their business models, brands, systems and processes.
The companies also announced the operating structure of the new entity. The new structure organizes the company into five geographic groups. The structure combines the organizational strengths of both companies into a single firm using a multi-disciplinary approach to serve clients locally and globally.
�Shareholders understand that we are creating a firm like no other � a firm that fuses imagination, know-how, rigor and passion in the work we do to create fundamental business innovation for our clients,� said Robert Bernard, Chief Executive Officer of Whittman-Hart. �The organizational structure we�ve created will enable us to quickly deliver on our promise and provide a new strategic weapon to the board rooms of the global marketplace.�
Global Management Team Drawn from Both Companies
Robert Bernard will become President and CEO. USWeb/CKS Chief Operating Officer Robert Clarkson will be COO for the new company. Leading the combined company will be a team of ten executives from Whittman-Hart and USWeb/CKS who understand the digital economy and know how to build and operate a world-class professional services firm. USWeb/CKS CEO Robert Shaw will become Chairman.
In addition, top management includes five newly named group executive partners who lead the company's geographic operating units. The company's Managed Services business unit reports to the Chief Development Officer. Company headquarters will be located in Chicago, with executive offices in the San Francisco Bay Area.
Five Geographic Groups Keep Company Close to Clients The company�s five operating units are:
Each geographic group is divided into smaller regions, and each region contains multiple offices. Offices will serve clients within their own communities, fostering close, ongoing client relationships. At the merger close, the company will have offices in more than 70 cities and 13 countries worldwide.
Strategy, Creative Expertise Concentrated at the Group Level
Geographic groups will aggregate dedicated strategy and creative teams to achieve economies of scale and serve clients throughout that group�s region. This ensures that each office can deliver superior strategy and creative expertise while maintaining close client relationships.
�Through the new organization we will work with clients locally � preserving the best of the geo-centric model � and deliver world-class strategy, creative, marketing and technology expertise,� said COO Clarkson. �The structure meets three key goals. It allows us to: serve clients most effectively, keep employees energized, and create a framework that will enable continued growth in size and profitability.�
About USWeb/CKS and Whittman-Hart
USWeb/CKS seeks to transform businesses in the digital economy and create sustainable market leadership for its clients. As the leading Internet professional services firm, USWeb/CKS has created a new standard for success in the digital economy � Time-to-Value. Time-to-Value means USWeb/CKS applies its extensive insight, experience and scale to deliver breakthrough results quickly. The Company is headquartered in San Francisco, California, with more than 4,500 professionals in 13 countries around the world. Additional information about USWeb/CKS is available by calling (415) 284-7070.
Headquartered in Chicago, Whittman-Hart helps clients improve marketplace performance by creating the essential connections between digital strategy, creative marketing and technology. In 1999, FORTUNE ranked Whittman-Hart as one of America's Fastest-Growing Companies. In 1998 and 1997, Forbes named Whittman-Hart one of the 200 Best Small Companies in America. Whittman-Hart has approximately 4,100 employees in 23 branch offices throughout the United States and the United Kingdom. Its Web site is www.whittman-hart.com.
This press release contains �forward-looking statements� (as defined under federal securities law) regarding the pending merger of Whittman-Hart and USWeb/CKS. The actual events, including the ability of the companies to close the merger and complete the integration of these two entities, may differ materially and adversely from those discussed in this press release. Factors that may cause such a difference include, without limitation, failure to satisfy the closing conditions set forth in the merger agreement, adverse fluctuations in stock prices, potential litigation, and other risks associated with acquisitions, such as difficulties in integrating operations. There can be no assurance that the combined entities will be able to realize the intended benefits of the merger. For additional information about factors that could affect the business of Whittman-Hart and USWeb/CKS, see the documents filed by the companies with the United States Securities and Exchange Commission.