CGI Board Authorizes the Renewal of its Normal Course Issuer Bid

MONTREAL, January 28, 2015 /PRNewswire/ --

Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)

http://www.cgi.com/newsroom

CGI Group Inc. (TSX: GIB.A) (NYSE: GIB) (the "Company") announced today that its Board of Directors has authorized the renewal of its Normal Course Issuer Bid ("NCIB"), subject to acceptance by the Toronto Stock Exchange (the "TSX").

The Company's management and Board of Directors believe that the repurchase of Class A subordinate voting shares ("Class A Shares") of the Company is a proper use of the Company's funds, and the NCIB will provide the Company with the flexibility to purchase Class A Shares from time to time as the Company considers it advisable, as part of its strategy to increase shareholder value.

At the close of business on January 23, 2015, there were 280,820,895 Class A Shares outstanding, of which approximately 68% were widely held (representing a public float of 190,522,071 Class A Shares for TSX purposes).

Under the terms of the NCIB, subject to TSX acceptance, the Company may purchase for cancellation on the open market through the facilities of the TSX and the New York Stock Exchange and through alternative trading systems, as well as outside the facilities of the TSX pursuant to exemption orders issued by securities regulatory authorities, up to 19,052,207 Class A Shares, representing approximately 10% of the Company's public float as of the close of business on January 23, 2015. The average daily trading volume (the "ADTV") of the Class A Shares on the TSX for the six month period ended December 31, 2014 was 722,439 Class A Shares. Consequently and in accordance with the requirements of the TSX, the daily purchase limit under the NCIB on the TSX will be 180,609 Class A Shares, representing 25% of the ADTV. All Class A Shares will be purchased at their market price at the time of acquisition, except for purchases effected outside the facilities of the TSX pursuant to exemption orders issued by securities regulatory authorities which will be at a discount to the market price as provided in such exemption orders. All shares purchased under the NCIB will be cancelled.

Purchases of Class A Shares may commence on February 11, 2015 and will end on the earlier of February 10, 2016 or the date on which the Company has either acquired the maximum number of Class A Shares allowable under the NCIB or otherwise decided not to make any further repurchases under the NCIB.

The current NCIB commenced on February 11, 2014 and will end on February 10, 2015. As at January 23, 2015, no Class A Shares have been purchased under the current NCIB.