Revenue in the fourth quarter of 2005 from business units in Latin America, excluding unconsolidated joint ventures, increased $5.7 million or 83% to $12.7 million from $6.9 million in the fourth quarter of 2004. Our unconsolidated joint ventures also continue to expand with notable performances in Colombia where we have grown to 22 clients, doubling in size over last year. The Mexico joint venture was awarded a contract from a large U.S. client for U.S. Hispanic customer support and has positioned itself as a strong player in the near shore marketplace for the U.S. Hispanic market. Total seats in our Colombia and Mexico unconsolidated joint venture rose to over 2650 in the fourth quarter. The Panama business unit continues its strong revenue and profitable growth. Panama grew its business by 100% in the fourth quarter of 2005 compared to the year earlier period in part due to offshore opportunities from the Spain business unit and the continued strength of U.S. demand. With its Latin American footprint combined with its market leader position in Spain, SITEL is well placed to benefit from the growing trend towards Offshoring to Latin America. The Company recently started business in Argentina and is planning on opening a site in Chile as part of the Spain offshore strategy. SITEL, a leading global provider of contact center services, empowers companies to grow by optimizing contact center performance and unlocking customer potential. SITEL designs, builds and manages multi-channel contact centers to enhance company performance and growth. SITEL manages nearly 2 million customer contacts per day via the telephone, web, e-mail, fax and traditional mail. SITEL employees operate contact centers in 26 countries, offering services in 32 languages and dialects. Please visit SITEL's website at www.sitel.com for further information. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. The words "expects," "anticipates," "will," and similar expressions in this news release identify forward-looking statements, which speak only as of the date the statement i...

SITEL Corporation Reports Fourth Quarter 2005 Preliminary Results