Our industry is engaged in a global war for market
Emerging as the BPO Leader
share. New competitors with educated low cost labor pools
Our success in the BPO marketplace is attracting
are emerging, and existing competitors are building offshore
attention. What differentiates ACS from the pack is our
capabilities to lower costs. Employing near, far, on, and
vertical market focus, worldwide production capabilities,
offshore solution components is an economic necessity in
our state of the art workflow software, and the technology
today's environment. Fortunately, ACS began pursuing an
and process expertise of our
offshore strategy several
people. ACS is recognized as
 In this business, service is everything.  As the
years ago and is ahead of the
the leading provider of BPO
competition with a
leading provider of BPO services worldwide, ACS
services in the industry, and
worldwide information
continues to create great value for our clients,
we intend to maintain that
processing capability
return for our shareholders, and opportunity for
representing over 20% of
We were recognized by
our workforce. This year,
our people. 
Washington Technology as the
we announced significant
leading provider of BPO services to state and
expansions of our facilities in Ghana and India.
local governments for the second consecutive
We also established new offices in China,
year. We were lauded for the second year
Indonesia, and Fiji. Today, our services support
running as the  Best of the Web  BPO company
operations in nearly 100 countries.
by Forbes. Our BPO deal to provide HR
services to Motorola was characterized by 
Initiating Change
HRO Today as the leading Buyer Provider
relationship in the industry. Our BPO
A common phrase at ACS is that  ACS
contracts with General Motors (GM) and
stands for always changing something.  It's
Defense Finance and Accounting Service
actually a principle we hold dear. We
Jeffrey A. Rich 
(DFAS) were also singled out for recognition.
continually reshape our organization to better
Chief Executive Officer
Our BPO services are delivering real value for
serve our clients and take advantage of new
our clients, and we are being recognized for it.
opportunities. During fiscal 2003, we merged our
commercial BPO and IT outsourcing divisions into one
seamless organization to better serve our commercial clients.
Rising to Challenges
Our success during the technology recession of the past
three years is the result of hard work, financial discipline,
and a steadfast commitment to client service. The economy
continues to be challenging. Businesses and governments
are having to do more with less, and many governments are
experiencing budget shortfalls. ACS is deeply involved with
our clients, delivering innovative outsourcing solutions to
improve financial performance and quality.



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