Cunningham Graphics Enters Into 3-Year Agreement With Prudential Securities
Press release from the issuing company
JERSEY CITY, New Jersey -- July 26, 2001 -- Cunningham Graphics International (CGI), a division of the Investor Communication Services unit of Automatic Data Processing (NYSE: ADP) announced today that it has entered into a 3-year outsource agreement with Prudential Securities Incorporated, a division of Prudential Financial.
This 3-year agreement covers a vast array of printing products, many of which were previously produced in the New York City Prudential Securities print facility, which has discontinued operations.
"We've been working with Prudential in various capacities since the day I founded CGI over 12 years ago, and they have been a vital part of our success, so I'm particularly proud and excited that we were able to bring this initiative to reality." says Michael Cunningham, President of CGI.
"This agreement reflects Prudential Securities' sensitivity to market conditions and allows us to focus more on our core businesses. I believe the transaction will improve process and reduce the overall cost of these communications, as well as give us unmatched access to new technology." says Bob Kaplan, Senior Vice President of Prudential Securities.
CGI is a leader in the graphic communications industry providing time-sensitive graphic communications services and outsourcing solutions to a blue chip client base that includes most of Wall Street's major investment banks, major insurance companies and many Fortune 500 corporations. CGI operates in strategic geographic markets throughout the United States and in Canada, Europe and Asia.
Investor Communication Services (ICS), part of the Brokerage Services Group of Automatic Data Processing (ADP), is the largest processor and provider of shareholder communication services. ICS serves approximately 14,000 publicly traded companies and 450 mutual funds on behalf of more than 800 brokerage firms and banks. As a full service provider, ICS provides financial printing, delivery of investor communications, fulfillment, voting and a variety of investor relation solutions. For more information about ADP Investor Communication Services, visit our web site at www.icsdelivers.com.
As the premier provider of transaction services to the financial industry, ADP Brokerage Services brings to financial intermediaries advanced, integrated systems for securities processing, desktop productivity and investor communication services, all focused on providing unique solutions for straight through processing and World Class Service. For more information about ADP Brokerage Services Group, please visit our web site at www.bsg.adp.com and for other ADP services and investor information, please visit www.adp.com.
About Prudential Financial
Prudential Financial, with more than $371 billion in assets under management as of Dec. 31, 2000, is one of the largest life insurance companies in the United States and is among the largest financial services institutions in the world. Prudential serves millions of individual and institutional customers worldwide and offers a variety of products and services, including life insurance, property and casualty insurance, mutual funds, annuities, pension and retirement-related services and administration, asset management, securities brokerage, real estate brokerage franchising and relocation services.
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