CENTURY CITY, South Africa, November 23, 2010 /PRNewswire/ -- Global IT Services company CSC today announced the completion of a landmark agreement, subject to the usual regulatory and other conditions for transactions of this nature, selling a 30 percent equity stake in its South African business to Amabubesi Capital, an investment group in South Africa. The sale endorses CSC's commitment to growing its business in the region with the company expected to receive the required Black Economic Empowerment (BEE) Accreditation once the process is completed.

BEE is a strategic initiative implemented by the South African government to promote economic transformation in the country by ensuring that previously disadvantaged individuals have the opportunity to participate in South African business and the economy.

Under the terms of the agreement, Peter Moyo, director and co-founder of Amabubesi, will become the Chairman of CSC's South African Subsidiary's Board. His team will also join this Board and will assist CSC in the implementation of their growth strategy and business development activities.

Peter Drube, managing director of CSC's South African business commented: "This agreement is fundamental for CSC to realize its ambition to grow our business in the South Africa region. Achieving the BEE accreditation will give us the opportunity to deliver and implement innovative technologies and services to organizations across the region as the country's economy continues to grow."

Peter Moyo, director and co-founder of Amabubesi said: "We are delighted to be working with CSC and look forward to achieving our shared growth aspirations for our businesses. Through this agreement CSC has demonstrated its commitment to black economic empowerment and supporting South African businesses."

About CSC

CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector. CSC's advanced capabilities include system design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. The company has been recognized as a leader in the industry, including being named by FORTUNE Magazine as one of the World's Most Admired Companies for Information Technology Services (2010). Headquartered in Falls Church, Va., CSC has approximately 94,000 employees and reported revenue of $16.1 billion for the 12 months ended October 1, 2010. For more information, visit the company's website at http://www.csc.com.

About Amabubesi

Amabubesi Group is an investment holding group which was founded in 2002. Whilst founded in South Africa, it is now not only a player in the domestic market but also in the African continent and beyond.

The foundations of the Group lie in its focus on Black Economic Empowerment opportunities, and it is at the forefront of creating a sustainable business model for South Africa. The Group encourages active participation in investments to manage risk and enhance value, adherence to sound governance, co-operation with co-investors and management to derive innovative solutions and maximise value. It seeks to create and enhance an entrepreneurial culture.

All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements represent the Company's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled "Risk Factors" in CSC's Form 10-K for the fiscal year ended April 2, 2010 and any updating information in subsequent SEC filings. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.

SOURCE: CSC

CONTACT: Chris Grandis, +1-703-641-2316, cgrandis@csc.com; Peter Drube(South Africa), 021-529-6500, pdrube@csc.com; or Bryan Brady,+1-703-641-3000, investorrelations@csc.com, all of CSC NOTE TO EDITORS: Formore information, please contact Peter Drube, Managing Director of CSC inSouth Africa on: 021-529-6500.