Conversion Services International, Inc. Announces First Quarter Results EAST HANOVER, N.J., May 24 /PRNewswire-FirstCall/ -- Conversion Services International, Inc. (CSI - The Center For Data Warehousing) (BULLETIN BOARD: CSII.OB) ("CSI"), a leading provider of management consulting, business intelligence and data warehousing services and solutions for Global 1000 and other businesses, announced today its first quarter results for the quarter ended March 31, 2004. Revenues for the first quarter of 2004 reached a three-year high of $5.3 million, up 53 percent from the first quarter of 2003. Additionally, revenues for the first quarter of 2004 increased 39.7 percent from the fourth quarter of 2003. Scott Newman, CSI's President, Chief Executive Officer and Chairman, reported, "We are very encouraged by the 53% increase in revenues for the first quarter of 2004 compared to the first quarter of 2003. Further, March 2004 was our best revenue-producing month since November 2001. We believe that the soft market for IT consulting services is behind us and we are excited about our prospects for the remainder of the year." First Quarter 2004 highlights: -- Merged with a subsidiary of publicly-traded LCS Group, Inc. and have been operating as a public company since January 30, 2004; -- Acquired the 10 key employees comprising the business intelligence consulting division of Software Forces, LLC; -- Acquired DeLeeuw Associates, LLC, a management consulting firm specializing in integration, reengineering and project management for financial services firms. Their associates have significant experience delivering value in large-scale, fast-paced projects within all financial services sectors and functional areas. DeLeeuw Associates has managed and supported some of the largest merger projects in the history of the financial services industry; -- March 2004 was CSI's largest revenue producing month since November 2001; -- The Company was cash flow positive from operations for the month of March; -- Added 19 new consulting engagements, the majority of which were major Business Intelligence initiatives; -- The consulting headcount increased from 87 at the end of the first quarter of 2003 to 165 at the end of the first quarter of 2004; -- Raised $2 million in equity in April 2004. About Conversion Services International, Inc. Conversion Services International, Inc. (CSI - The Center For Data Warehousing) is a leading provider of a new category of professional services that embraces IT management consulting, data warehousing, business intelligence consulting and e-Business solutions. CSI offers an array of products and services to help companies define, develop and implement the warehousing and strategic use of both enterprise-wide and specific categories of strategic data. CSI's current customers include Verizon Wireless, Morgan Stanley, Pfizer, Goldman Sachs, Merck and Standard & Poor's. Information about CSI -- The Center For Data Warehousing can be found on the web at http://www.csiwhq.com/ or by calling its corporate headquarters at 888-CSI- 5036. Note on Forward-Looking Statements Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. CSI undertakes no obligation to update publicly any forward-looking statements. DATASOURCE: Conversion Services International, Inc. CONTACT: Mitchell Peipert, Vice President and Chief Financial Officer, of Conversion Services International, Inc., +1-973-560-9400 ext. 2088, or Web site: http://www.csiwhq.com/

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