Integreon buys out Philippine conglomerate's BPO arm

India, Mumbai, October 12, 2006 "� Integreon Managed Solutions, Inc., a global leader in complex knowledge process outsourcing, announced today that it has completed a management-led buyout in partnership with the Ayala Corporation, one of the leading conglomerates in the Philippines.

Under the terms of the agreement, LiveIt Solutions, Inc., the holding company for Ayala Corporation's investments in the Business Process Outsourcing (BPO) sector, acquired a majority interest in Integreon from an investor group led by two US based venture capital funds, ConnectCapital and The View Group. Integreon's management retains a significant interest in the company and will continue overseeing its day-to-day operations. Terms of the transaction were not disclosed.

"LiveIt's backing will enable us to invest even more in the expansion of our management team and the development of our world class staff and processes, which will in turn allow us to better meet our clients' growing needs," said Liam Brown, who will continue as President and CEO. "The transaction will also enable us to add new on-site offerings at client facilities in the US and Europe, and new offshore delivery centers, which will allow us to offer our customers access to a truly global talent pool, and strengthened Business Continuity Planning. LiveIt will be of particular help in building out our Philippine operation, where we plan to open a fifth center in early 2007."

Fred Ayala, CEO of LiveIt, stated: "We are very pleased to be investing in a high growth success story like Integreon, and are particularly delighted that the entire management team, which has a proven track record of delivering the very highest levels of quality, is remaining with the Company. We are confident that the team will be able to profitably deploy the capital resources we are providing, and continue its growth, both organically and through acquisitions."

Integreon has achieved strong organic growth of 50-80% or better in each of the last five years and has recently signed significant new client contracts. With over 1,000 employees, Integreon serves most of the largest global law firms, investment banks and numerous Global 2000 corporations in both the US and Europe.

About Integreon

Integreon provides high value, complex BPO solutions (also known as Knowledge Process Outsourcing, or judgement-based BPO), specializing in document, content, knowledge and legal services. Its clients include the world's largest financial services institutions, law firms, consultancies, publishing and media companies and Global 2000 corporations. www.integreon.com

About Ayala Corporation

Ayala Corporation is the oldest business house in the Philippines and is one of its leading conglomerates. The holding company and its listed subsidiaries have a combined market capitalization of $11.5 billion and account for about a third of the Philippine Composite Index. LiveIt is Ayala Corporation's holding company for its investments in the BPO sector. It recently acquired a significant shareholding in eTelecare, a leading customer care BPO company. In addition to Integreon, LiveIt seeks to acquire or invest in other companies that provide complex non-voice outsourced services, in areas such as the financial, insurance, healthcare and commercial graphics industries. It plans to focus on established BPO companies in the U.S., the Philippines and India that have the potential to leverage the Philippines' large pool of skilled professionals. www.ayala.com.ph