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These projects (one with one of the nation's largest municipal utilities, and the other with a large specialty retailer) have a total value of approximately $13.7 million, of which eLoyalty has executed contracts for $9.4 million (eLoyalty expects to execute the remaining contracts over the next several weeks). The $13.7 million consists of the following components:

-- $3.8 million of Managed services that is expected to be recognized over the next four years;

-- $5.9 million of Consulting services, the bulk of which is expected to be recognized between the third quarter of 2008 and second quarter of 2009; and

-- $4.0 million of Product resale that is expected to be recognized in the third quarter of 2008.

In addition, eLoyalty signed an initial deployment contract for its Behavioral Analytics(TM) service at a Top 5 HMO. eLoyalty continues to gain traction with its Behavioral Analytics(TM) service in the Health Care Industry as evidenced by the following:

-- eLoyalty currently serves approximately a dozen large Health Care companies, including of the 3 of the largest 5 HMOs and one of the two largest Pharmacy Benefits Managers

-- eLoyalty is building deep Health Care expertise based on its analysis of approximately 30 million Health Care interactions

These contracts evidence eLoyalty's continued momentum in its 2 principal Service Lines (ICS and Behavioral Analytics(TM)). In addition, revenues from these contracts should increase eLoyalty's Managed Services revenues, and are expected to help offset anticipated reductions in traditional consulting revenues.