UBICS, Inc. Acquires a Leading U.K. Technical Services Company, Oakwood Technical Services Limited

Acquisition Broadens UBICS' Global Presence



$3 Million Per Year Company, a Leading IT Services Provider in the U.K.



Apr 04, 2001, 01:00 ET from UBICS, Inc.

    CANONSBURG, Pa., April 4 /PRNewswire/ -- UBICS, Inc. (Nasdaq: UBIX) today
 announced that it has completed the acquisition of Oakwood Technical Services
 Limited, a small group of privately held United Kingdom based companies.  The
 acquisition was for 1.4 million British pounds sterling, or approximately
 $2 million, subject to certain post-closing adjustments.  The purchase price
 also includes future payments of 10% of the companies' net income in excess of
 established targets over the next five years.  The acquisition is initially
 expected to have a modestly accretive effect on UBICS' future financial
 results, and is being accounted for using the purchase method of accounting.
     Oakwood is a leader in information, consulting and technical services
 ranging from high-level strategic human resources planning to project
 outsourcing and on-site consulting.  European Software Services, a company in
 the Oakwood group, possesses a web site development division, and a customized
 programmable kiosk design division.  Additionally, the companies provide data
 entry services for various organizations throughout Europe.
     Bob Harbage, President and CEO of UBICS, stated "We see the acquisition of
 Oakwood as very beneficial to UBICS, in both the near-term and long-term.  In
 the long-term, this acquisition strengthens UBICS' ability to place
 consultants and take on projects outside the U.S.  Additionally, with the
 shortage of visas available in the U.S. that we have seen over the last
 several years, this allows us to place new consultants on projects in the
 European market year round instead of only during the first half of the year."
     Harbage continued, "In the near-term, while the U.S. has experienced an
 industry-wide slowdown in IT staffing services, we have not seen the same in
 Europe.  This acquisition will allow us to place our large and top-notch
 talent-pool of IT experts overseas to take advantage of the currently robust
 European demand.  Plus, the acquisition allows UBICS to expand globally into
 the European marketplace allowing us to take advantage of a second channel for
 distribution for our IT and creative services."
     Commenting on the European Software Services' web development and kiosk
 divisions, Mr. Harbage continued, "Delivering web solutions to European
 clients expands our capabilities to another part of the world and complements
 the existing web operations currently under the UBICS umbrella, Pittsburgh-
 based UB Interactive and Phoenix-based Cobalt Creative."
     Dr. Vijay Mallya, Chairman of UBICS said, "This acquisition brings us
 closer to our long-held goal of providing total IT Solutions across the
 globe."
     Said Sal Hatteea, President of Oakwood and European Software Services, "We
 are very pleased to join forces with UBICS and be a part of building this
 dynamic company.  We will now have an extra competitive edge in our markets by
 having access to UBICS' pool of talented consultants.  This unparalleled
 resource will enhance our ability to make placements and take on projects
 throughout Europe, the Middle and Far East and Asia, from the UK-based office,
 as it enables us to implement better quality control."
     Oakwood Technical Services' name will be changed to UBICS UK and European
 Software Services' name will be changed to Cobalt Creative UK.
 
     About Oakwood and European Software Services
     Oakwood was established in 1994 to provide state of the art software and
 services to information technology users in the UK and throughout Europe.
 With a global network of contacts, Oakwood develops and provides products and
 services to several blue chip organizations and local and central government.
 Oakwood's areas of specialization include business application development
 using relational databases in a client/server environment and in networking
 and communications.  In 1999, European Software Services was created as a
 separate company focused on developing web sites and customized computer
 kiosks for various European clients.
 
     About UBICS, Inc.
     UBICS, Inc. provides information technology, professional services to
 large and mid-sized organizations.  With clients around the globe, UBICS
 renders a wide range of professional services in such areas as client/server
 design and development, enterprise resource planning package implementation
 and customization, applications maintenance programming, and database and
 systems administration.  With the 2000 inception of UB Interactive and
 acquisition of Cobalt Creative, UBICS provides creative web site design,
 e-commerce applications development, digital media, corporate identity, and
 web strategy solutions for business-to-business customers across the
 United States.
 
     Safe Harbor Statement
     Forward-looking statements (statements which are not historical facts) in
 this release are made pursuant to the safe harbor provisions of the Private
 Securities Litigation Reform Act of 1995.  For this purpose, any statements
 contained in this report that are not statements of historical fact may be
 deemed to be forward-looking statements.  Without limiting the generality of
 the foregoing, words such as "may," "will," "to," "expect," "believe,"
 "anticipate," "intend," "could," "would," "estimate," or "continue" or the
 negative or other variations thereof or comparable terminology are intended to
 identify forwarding-looking statements.  Investors are cautioned that all
 forward-looking statements involve risk and uncertainties.  UBICS stockholders
 are subject to the risks and uncertainties described in UBICS' filings with
 the Securities and Exchange Commission, including UBICS' Annual Report on Form
 10-K for the year ended December 31, 2000.
 
 

SOURCE UBICS, Inc.
    CANONSBURG, Pa., April 4 /PRNewswire/ -- UBICS, Inc. (Nasdaq: UBIX) today
 announced that it has completed the acquisition of Oakwood Technical Services
 Limited, a small group of privately held United Kingdom based companies.  The
 acquisition was for 1.4 million British pounds sterling, or approximately
 $2 million, subject to certain post-closing adjustments.  The purchase price
 also includes future payments of 10% of the companies' net income in excess of
 established targets over the next five years.  The acquisition is initially
 expected to have a modestly accretive effect on UBICS' future financial
 results, and is being accounted for using the purchase method of accounting.
     Oakwood is a leader in information, consulting and technical services
 ranging from high-level strategic human resources planning to project
 outsourcing and on-site consulting.  European Software Services, a company in
 the Oakwood group, possesses a web site development division, and a customized
 programmable kiosk design division.  Additionally, the companies provide data
 entry services for various organizations throughout Europe.
     Bob Harbage, President and CEO of UBICS, stated "We see the acquisition of
 Oakwood as very beneficial to UBICS, in both the near-term and long-term.  In
 the long-term, this acquisition strengthens UBICS' ability to place
 consultants and take on projects outside the U.S.  Additionally, with the
 shortage of visas available in the U.S. that we have seen over the last
 several years, this allows us to place new consultants on projects in the
 European market year round instead of only during the first half of the year."
     Harbage continued, "In the near-term, while the U.S. has experienced an
 industry-wide slowdown in IT staffing services, we have not seen the same in
 Europe.  This acquisition will allow us to place our large and top-notch
 talent-pool of IT experts overseas to take advantage of the currently robust
 European demand.  Plus, the acquisition allows UBICS to expand globally into
 the European marketplace allowing us to take advantage of a second channel for
 distribution for our IT and creative services."
     Commenting on the European Software Services' web development and kiosk
 divisions, Mr. Harbage continued, "Delivering web solutions to European
 clients expands our capabilities to another part of the world and complements
 the existing web operations currently under the UBICS umbrella, Pittsburgh-
 based UB Interactive and Phoenix-based Cobalt Creative."
     Dr. Vijay Mallya, Chairman of UBICS said, "This acquisition brings us
 closer to our long-held goal of providing total IT Solutions across the
 globe."
     Said Sal Hatteea, President of Oakwood and European Software Services, "We
 are very pleased to join forces with UBICS and be a part of building this
 dynamic company.  We will now have an extra competitive edge in our markets by
 having access to UBICS' pool of talented consultants.  This unparalleled
 resource will enhance our ability to make placements and take on projects
 throughout Europe, the Middle and Far East and Asia, from the UK-based office,
 as it enables us to implement better quality control."
     Oakwood Technical Services' name will be changed to UBICS UK and European
 Software Services' name will be changed to Cobalt Creative UK.
 
     About Oakwood and European Software Services
     Oakwood was established in 1994 to provide state of the art software and
 services to information technology users in the UK and throughout Europe.
 With a global network of contacts, Oakwood develops and provides products and
 services to several blue chip organizations and local and central government.
 Oakwood's areas of specialization include business application development
 using relational databases in a client/server environment and in networking
 and communications.  In 1999, European Software Services was created as a
 separate company focused on developing web sites and customized computer
 kiosks for various European clients.
 
     About UBICS, Inc.
     UBICS, Inc. provides information technology, professional services to
 large and mid-sized organizations.  With clients around the globe, UBICS
 renders a wide range of professional services in such areas as client/server
 design and development, enterprise resource planning package implementation
 and customization, applications maintenance programming, and database and
 systems administration.  With the 2000 inception of UB Interactive and
 acquisition of Cobalt Creative, UBICS provides creative web site design,
 e-commerce applications development, digital media, corporate identity, and
 web strategy solutions for business-to-business customers across the
 United States.
 
     Safe Harbor Statement
     Forward-looking statements (statements which are not historical facts) in
 this release are made pursuant to the safe harbor provisions of the Private
 Securities Litigation Reform Act of 1995.  For this purpose, any statements
 contained in this report that are not statements of historical fact may be
 deemed to be forward-looking statements.  Without limiting the generality of
 the foregoing, words such as "may," "will," "to," "expect," "believe,"
 "anticipate," "intend," "could," "would," "estimate," or "continue" or the
 negative or other variations thereof or comparable terminology are intended to
 identify forwarding-looking statements.  Investors are cautioned that all
 forward-looking statements involve risk and uncertainties.  UBICS stockholders
 are subject to the risks and uncertainties described in UBICS' filings with
 the Securities and Exchange Commission, including UBICS' Annual Report on Form
 10-K for the year ended December 31, 2000.
 
 SOURCE  UBICS, Inc.