TeleTech Awarded Long-Term Contract with Allstate.

DENVER, Feb. 24 /PRNewswire/ --

TeleTech Holdings, Inc. (Nasdaq: TTEC), a leading provider of e-commerce-enabling customer management solutions (eCRM) today announced a long-term contract award from The Allstate Corporation (NYSE: ALL). TeleTech will participate in Allstate's initiative to enhance the way Allstate interacts with its customers.

Allstate is deploying a multi-access, seamless strategy that allows customers to interact with Allstate at any time, from anywhere, in any way they choose. Under the terms of the agreement, TeleTech will build-out and manage one of Allstate's dedicated Client Information Centers in the fourth quarter 2000. TeleTech's licensed representatives will provide quotes, assist customers in the purchase and modification of insurance policies across multiple channels.

"Allstate is committed to broadening its reach to its customers. Today, our only direct channel to our customers is our agent base, and we recognize the competitive advantage that can be gained by leveraging our strengths and integrating our knowledge across multiple channels," commented Jeffrey Lewis, Allstate's Vice President of Multi-Access Integration.

"Allstate is a company with a powerful vision. We are proud to work with them as they pioneer a customer-centric approach in the insurance industry," commented Scott Thompson, TeleTech chief executive officer and president. "TeleTech continues to break new ground by helping outstanding companies transform from bricks-and-mortar to clicks-and-mortar. We are committed to providing the fastest 'e-transformation' solution with the ultimate goal of helping our clients optimize their customer relationships and build long-term loyalty. This is a significant addition to our leadership position in financial services that encompasses e-banking, brokerage and insurance."

TELETECH PROFILE

Founded in 1982, TeleTech is a leading provider of integrated, e-commerce-enabling customer management solutions (eCRM) for global organizations predominantly in the telecommunications, financial services, technology, government and transportation industries. TeleTech operates more than 11,900 state-of-the-art customer interaction center workstations and employs more than 16,300 people in nine countries. Its innovative customer interaction platform, CyberCare(TM), integrates the full spectrum of voice and Internet communications, including custom e-mail response, "chat" and extensive Web co-browsing capabilities. Through 29 customer interaction centers in the Americas, Europe and Asia, TeleTech couples a high-velocity electronic infrastructure with premier customer relationship management to assure its clients and partners unparalleled success in acquiring, retaining and building customer relationships.

ALLSTATE PROFILE

The Allstate Corporation is the nation's largest publicly held personal lines insurance company. Its main business units include Allstate Personal Property and Casualty, which provides insurance for more than 14 million households and has approximately 15,500 agents in the U.S. and Canada, and Allstate Life and Savings, which markets a number of life insurance and savings products under a variety of brands through a number of channels and is currently the nation's 17th largest life insurance business. Allstate maintains a website at www.allstate.com.

FORWARD LOOKING STATEMENTS

All statements not based on historical fact are forward-looking statements that involve substantial risks and uncertainties. In accordance with the Private Securities Litigation Reform Act of 1995, following are important factors that could cause TeleTech's actual results to differ materially from those expressed or implied by such forward-looking statements: There can be no assurance that TeleTech will be able to maintain or accelerate its growth rate, or maintain its profitability. TeleTech's agreements with its clients generally do not assure that TeleTech will generate a specific level of revenue, do not designate TeleTech as the client's exclusive service provider, and are terminable by the clients on relatively short notice. The loss of one or more of its significant clients, or the loss or delay in implementation of a large customer management program, could cause quarterly variations in TeleTech's revenues. There also can be no assurance that TeleTech can build-out facilities in a timely and economic manner. TeleTech's profitability is significantly influenced by its customer interaction center capacity utilization and TeleTech may experience excess peak period capacity when it opens new or expands an existing customer interaction center or terminates or completes a large client program. Readers are encouraged to review TeleTech's 1998 Annual Report on Form 10-K and 1999 Quarterly Reports on Form 10-Q for the first, second and third quarters of 1999, which describe other important factors that may impact TeleTech's business, results of operations and financial condition.