PARIS (Standard&Poor's) Dec. 16, 2003--Standard&Poor's Ratings Services said today that the warning by Cap Gemini S.A. (BBB/Negative/--) that its EBIT margin would be 2%-3% for second-half 2003, and not 4% as previously announced, did not affect the rating and outlook on the French IT services group. The group's revised guidance for second-half 2003, as well as a 2004 EBIT margin that will likely be below the 5.8% anticipated by the market, are more in line with Standard&Poor's expectations for the group. In addition, the credit impact of the contract with Inland Revenue Services (representing about £3 billion of revenues over ten years, starting mid-2004), which the group recently won, remains to be quantified. ANALYST
