Ceridian Corporation, the leading organization in managed human resource outsourcing solutions has mentioned here today before a Press delegation about a very letter that has been filed by the renowned Pershing Square Capital Management, L.P. It has been further stated that the letter is related to the prior announcement of the specific merger agreement according to which the Ceridian shall be acquired in cooperation by Thomas H. Lee Partners, L.P. and Fidelity National Financial, Inc. against a cash transaction that has been valued at something like $5.3 billion.

Ceridian is a well-known information services company engaged in the service for years satisfying the needs of businesses and employees. The company's concentration or the core area of function is human resource, transportation and retail markets. The company's improved financial and operational performance led to accelerating marketplace momentum for Ceridian in 2005. The organization is having a strong and efficient position in growth markets with a noble plan to elevate and excel through enhancing the international presence. It is stated, through the performance in the international business arena that the company remains in some way remains committed to continuous process and productivity improvements.

It has come to the knowledge, that the agreement of amalgamation that proclaims about the joint takeover of Ceridian jointly by THL Partners and FNF, is a topic under discussion to certain closing conditions that include the approval of Ceridian's shareholders, antitrust and state regulatory approvals, along with the gratification of other customary closing conditions. However there has been no financing condition for the mere accomplishment of the transaction. It is highly expected that the transaction shall definitely close following the satisfaction of all closing conditions and completion of a financing marketing period, which is anticipated to occur in the fourth quarter.

The concerned authority has already stated in unambiguous terms that the transaction will be presented to Ceridian shareholders for the obligatory approval at Ceridian's Annual Meeting, which will be scheduled as soon as it becomes feasible subsequent to the filing and review of proxy materials with the Securities and Exchange Commission. However, it has been confirmed, that in no circumstances the date of the Annual Meeting shall surpass September 21, 2007.