Resolve Business Outsourcing Income Fund
TSX : RBO.UN

Resolve Business Outsourcing Income Fund

December 19, 2007 16:10 ET

Resolve and Central Tax Streamline Property Tax Management with Outsourced Solution

TORONTO, ONTARIO--(Marketwire - Dec. 19, 2007) - Resolve Business Outsourcing Income Fund (TSX:RBO.UN) -

Attention: Business and Financial Editors:

Resolve Corporation, a Canadian business leader in business process outsourcing, and Central Tax, an industry outsourcer specializing in property tax solutions, announced today that they have formed a strategic alliance to pursue the market for outsourced property tax solutions in the financial services sector.

"Resolve is pleased to be working with Central Tax to extend our suite of lending solutions," said Bruce Derraugh, Executive Vice President, Resolve. "Our mortgage lending customers have been requesting an outsourced solution to simplify the payment of property taxes to municipalities and school boards, and working with Central Tax allows us to deliver that capability. This partnership enables Resolve to act as the principal point of contact for lenders, streamlining their relationships with more than 5,000 tax authorities across Canada."

There are currently over 2.5 million property tax accounts being administered by Canadian financial institutions on behalf of their mortgage customers, representing a significant opportunity for outsourcing. The combined offering builds upon Central Tax's innovative tax monitoring and administration system, which alleviates many of the challenges involved in the setup and the overall management of the lender's property tax account.

"Combining our technology with Resolve's expertise in financial services outsourcing provides lenders and their customers with an automated solution for property tax payment," stated Yves Varin, Executive Vice President of Central Tax. "This combined solution will lead to enhanced efficiencies for both lenders and taxing authorities, resulting in a reduction of operating expenses for both parties."

About Resolve

Resolve works with businesses as an outsourced resource taking on critical processes and managing them better, faster and more cost-effectively. We have over 35 years experience managing processes for Fortune 500 clients in the financial services, retail, government, consumer goods and communications industries. Headquartered in Toronto, Canada, Resolve employs more than 4,500 people in 29 locations and is listed on the Toronto Stock Exchange as Resolve Business Outsourcing Income Fund, symbol RBO.UN. For more information, visit www.resolve.com.

About Central Tax®

Founded in 2002, Central Tax®(centraletaxes.com) is a specialized industry outsourcer and intermediary active in the property and school tax sector. Through a dynamic, fully secured, single window service facility designed to accommodate all manner of tax reserve management transactions, Central Tax® electronically centralizes and harmonizes the multifaceted tax transaction process, thereby enabling mortgage lenders, municipalities, school boards and taxpayers to interact with one another. For more information, visit www.centraletaxes.com.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

This press release may include certain statements that constitute forward-looking information within the meaning of applicable securities laws. Such forward-looking information may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Resolve, or industry results, to be materially different from any future results, performance, achievements or opportunities expressed or implied by such forward-looking information. This forward-looking information includes estimates, forecasts and statements as to management's and others' expectations with respect to, among other things, growth strategies and the outlook for Resolve and the business process outsourcing industry and may use words such as "may", "will", "estimate", "expect", "anticipate", "believe", "intend", "plan", "could", "continue" and other similar terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this press release. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information, including, but not limited to, loss of key customer contracts or reduction of services purchased by key customers, foreign exchange rates, increases in costs to Resolve that cannot be passed on to customers, disputes with key customers, competition, the ability of Resolve to manage operations and execute growth strategies, stability of internal and government information systems and technology, technological changes, the ability to maintain software licenses, changes in privacy laws, and risks inherent in bidding on government contracts. These risk factors are discussed in greater detail under "Risks" on page 14 of Resolve's MD&A for the period ended December 31, 2006, which is available on SEDAR at www.sedar.com. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, Resolve cannot assure that actual results will be consistent with this forward-looking information. This forward-looking information is made as of the date of this press release, and Resolve assumes no obligation to update or revise it to reflect new events or circumstances.

Contact Information

  • Resolve Corporation - Investor Inquiries:
    Jamie Hyde
    Executive Vice President & Chief Financial Officer
    (905) 306-2196
    or
    Resolve Corporation - Media Inquiries:
    John Nevins
    Director, Corporate Communications
    (905) 306-2642
    Website: www.resolve.com
    or
    Centrale Taxes
    Yves Varin
    Executive Vice President, Business Development
    (877) 585-8293
    Website: www.centraletaxes.com