HOUSTON and LONDON, September 4 /PRNewswire/ --     EquaTerra has acquired Morgan Chambers, creating the market leading
independent sourcing advisory firm.

As EquaTerra and Morgan Chambers are, respectively, the world's number
one and number two top ranking Full Service Outsourcing and Offshoring
Advisors(i), the acquisition creates the advisory firm of choice for
organisations seeking to improve their business and IT processes through
shared services, outsourcing and offshoring.

The collective teams will provide unrivalled depth of knowledge and
services across all business support functions, including Information
Technology (IT), Human Resources (HR), Finance & Accounting (F&A),
Procurement and Customer Care. The firms have additional expertise in
sector-specific processes such as claims management, mortgage processing and
policy administration. The acquisition will also broaden and solidify the
firm's geographic reach, thereby providing greater value for clients. The
combined firm has approximately 300 employees across North America, Europe
and Asia Pacific.

Mark Toon, CEO, EquaTerra said, "The leadership teams of our firms are
excited about this acquisition. We are in the unique situation of bringing
together two organisations with a strong presence in different geographies,
yet with similar cultures, methodologies and depth of experience in the
markets we serve. The expanded geographic reach and enhanced service
offerings, combined with the tenure and expertise of our advisors makes this
acquisition a positive event for our clients, employees and business
partners."

Phil Morris, CEO, Morgan Chambers said, "Both EquaTerra and ourselves
possess a relentless commitment to our clients and their needs and
objectives. We've built a well-respected advisory business in Europe and we
feel joining EquaTerra gives us the organisational depth and geographic reach
our clients need. We believe our collective strengths will further support
our clients on their journey to create sustainable value in their business
support functions."

Robert Morgan, Chairman and founder of Morgan Chambers will leave the
organisation once the deal is complete. "Creating Morgan Chambers back in
1994 was such an exciting opportunity and I am extremely proud of what the
company and its hugely talented staff have achieved for our clients. I am
pleased to be able to hand over to such a likeminded organisation, which in
turn provides me with the opportunity to invest in new ventures."

(i) Source: Black Book of Outsourcing 2007

Notes for editors:

ABOUT EQUATERRA

EquaTerra sourcing advisors help clients achieve sustainable value in
their business and IT processes. With an average of more than 20 years of
industry experience in over 600 global transformation and outsourcing
projects, our advisors offer unmatched industry expertise. EquaTerra has deep
functional knowledge in Finance and Accounting, HR, IT, Procurement and other
critical business processes with advisors throughout North America, Europe
and Asia Pacific. We help clients achieve significant cost savings and
process improvement with outsourcing, internal transformation and shared
services solutions. http://www.equaterra.com.

ABOUT MORGAN CHAMBERS

Established in 1994 with a single purpose - to provide high quality,
practical and totally independent advice on the best client Sourcing
solutions, Morgan Chambers remains true to these principles today. Morgan
Chambers employs business and service delivery experts who passionately
believe that balanced Sourcing strategies deliver sustainable business
advantage and huge flexibility. Whether in-house, Shared Services or
utilising external suppliers, we drive innovative, accountable and measurable
solutions. Europe's leading specialist Sourcing advisory firm, we employ over
60 full-time consultants from eight offices world-wide. With more than 1000
client engagements in over 60 countries, we have unrivalled experience in
achieving successful results. http://www.morganchambers.com