<SUBMISSION>
<ACCESSION-NUMBER>0000950134-06-007308
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20060525
<FILING-DATE>20060414
<DATE-OF-FILING-DATE-CHANGE>20060414
<EFFECTIVENESS-DATE>20060414
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>TELETECH HOLDINGS INC
<CIK>0001013880
<ASSIGNED-SIC>7389
<IRS-NUMBER>841291044
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>001-11919
<FILM-NUMBER>06759679
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>9197 S PEORIA STREET
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
<PHONE>303-397-8100
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>9197 S PEORIA STREET
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>d34895def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">












<DIV align="center" style="font-size: 18pt; margin-top: 18pt"><B>SCHEDULE 14A INFORMATION</B>
</DIV>


<DIV align="Center" style="font-size: 12pt; margin-top: 6pt"><B>Proxy Statement Pursuant to Section 14(a) of<BR>
the Securities Exchange Act of 1934 (Amendment No.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; )</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Filed by the Registrant <FONT face="Wingdings">&#254;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Filed by a Party other than the Registrant <FONT face="Wingdings">&#111;</FONT><BR>

Check the appropriate box:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="97%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Preliminary Proxy Statement</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#254;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Definitive Proxy Statement</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Definitive Additional Materials</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting Material Pursuant to &#167;240.14a-12</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>TeleTech Holdings, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Name of Registrant as Specified In Its Charter)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Payment of Filing Fee (Check the appropriate box):
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#254;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No fee required</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(4) and 0-11</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(1</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Title of each class of securities to which transaction applies:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(2</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Aggregate number of securities to which transaction applies:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(3</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule&nbsp;0-11 (set forth the
amount on which the filing fee is calculated and state how it
was determined):</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(4</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Proposed maximum aggregate value of transaction:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(5</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Total fee paid:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="97%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fee paid previously with preliminary materials.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and identify the
filing for which the offsetting fee was paid previously. Identify the previous filing by registration
statement number, or the Form or Schedule and the date of its filing.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(1</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Amount Previously Paid:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(2</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Form, Schedule or Registration Statement No.:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(3</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Filing Party:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(4</TD>
    <TD nowrap valign="top">)</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Date Filed:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
















<P align="center" style="font-size: 10pt">
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PROXY STATEMENT ANNUAL MEETING OF STOCKHOLDERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">PROPOSAL 1:  ELECTION OF DIRECTORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXECUTIVE COMPENSATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">REPORT OF THE COMPENSATION  COMMITTEE ON EXECUTIVE COMPENSATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">REPORT FROM THE AUDIT COMMITTEE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">INDEPENDENT AUDIT FEES FOR 2005</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">PERFORMANCE GRAPH</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">PROPOSAL 2:  RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">GENERAL INFORMATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">IMPORTANT NOTICE REGARDING DELIVERY OF STOCKHOLDER DOCUMENTS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">OTHER BUSINESS</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 14pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">TELETECH
    HOLDINGS, INC.<BR>
    <FONT style="font-size: 10pt">9197&#160;S.&#160;Peoria Street<BR>
    Englewood, Colorado 80112</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 17pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=455 length=84 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">NOTICE OF ANNUAL MEETING OF
    STOCKHOLDERS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Annual Meeting of stockholders of TeleTech Holdings, Inc., a
    Delaware corporation, will be held at 9197&#160;S.&#160;Peoria
    Street, Englewood, Colorado 80112 on Thursday, May&#160;25,
    2006, at 10:00&#160;a.m., local time, for the following purposes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    1.&#160;To elect six directors to serve until the next Annual
    Meeting of stockholders or until their successors are duly
    elected and qualified (see page&#160;5);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    2.&#160;To ratify the appointment of Ernst&#160;&#38; Young LLP
    as our independent auditor for 2006 (see page&#160;18);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    3.&#160;To transact such other business as may properly come
    before the Annual Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The record date for the Annual Meeting is April&#160;3, 2006.
    Only stockholders of record at the close of business on that
    date are entitled to notice of and to vote at the Annual Meeting.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By Order of the Board of Directors,
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="d34895d3489502.gif" alt="-s- Christy T. O'Connor" >
</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="font-variant: SMALL-CAPS">Christy T. O&#146;Connor
    <BR>
    </FONT><I>Vice President, Assistant General Counsel and</I>
</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Secretary</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Englewood, Colorado
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    April&#160;14, 2006
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>
<DIV style="border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>YOUR VOTE IS IMPORTANT.<BR>
    PLEASE COMPLETE, DATE, SIGN AND RETURN YOUR PROXY CARD
    PROMPTLY.</B>
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 14pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">TELETECH
    HOLDINGS, INC.<BR>
    <FONT style="font-size: 10pt">9197&#160;S.&#160;Peoria
    Street,<BR>
    Englewood, Colorado 80112</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 14pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=455 length=84 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<!-- link1 "PROXY STATEMENT ANNUAL MEETING OF STOCKHOLDERS" -->
<DIV align="left"><A NAME="000"></A></DIV>
<B><FONT style="font-size: 12pt">
    PROXY STATEMENT</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">ANNUAL MEETING OF
    STOCKHOLDERS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt">To be Held on May&#160;25,
    2006</FONT></B>
</DIV>

<DIV style="margin-top: 14pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=455 length=84 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Directors of TeleTech Holdings, Inc., a Delaware
    corporation (&#147;TeleTech,&#148; the &#147;Company,&#148;
    &#147;we,&#148; &#147;us,&#148; or &#147;our&#148;) is
    soliciting proxies to be used at our Annual Meeting of
    stockholders to be held at 10:00&#160;a.m. on May&#160;25, 2006,
    at TeleTech Holdings, Inc.&#146;s Principal Offices located at
    9197&#160;S.&#160;Peoria Street, Englewood, Colorado 80112. This
    proxy statement contains important information regarding
    TeleTech&#146;s Annual Meeting, the proposals on which you are
    being asked to vote, information you may find useful in
    determining how to vote and voting procedures.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A number of abbreviations are used in this Proxy Statement. The
    term &#147;proxy materials&#148; includes this proxy statement,
    the enclosed proxy card, and TeleTech&#146;s Annual Report for
    2005.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Directors is sending these proxy materials on or
    about April&#160;&#160;21, 2006.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Who Can
    Vote</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Stockholders of record at the close of business on April&#160;3,
    2006 (the &#147;Record Date&#148;) may vote at the Annual
    Meeting. On the Record Date, we had approximately 69,316,807
    issued and outstanding shares of common stock, which were held
    by approximately 259 record holders. If you hold shares in a
    stock brokerage account or by a nominee, you are considered the
    beneficial owner of shares held in &#147;street name&#148; and
    these proxy materials are being forwarded to you by your broker
    or nominee, who is considered the record holder with respect to
    those shares. As the beneficial owner, you have the right to
    direct your broker or nominee on how to vote and you are also
    invited to attend the Annual Meeting. However, since you are not
    the stockholder of record, you may not vote these shares in
    person at the meeting unless you first obtain from your broker
    or nominee a letter recognizing you as the beneficial owner of
    your shares. Your broker or nominee has enclosed a voting
    instruction card for you to use. <B>You are urged to vote by
    proxy regardless of whether you attend the Annual Meeting.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">How You
    Can Vote</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You can vote your shares if you are represented by proxy or
    present in person at the Annual Meeting. If you hold your shares
    through your broker in &#147;street name,&#148; you may direct
    your broker or nominee to vote by proxy, but you may not vote in
    person at the meeting unless you first obtain from your broker
    or nominee a letter recognizing you as the beneficial owner of
    your shares. If you return a properly signed proxy card, we will
    vote your shares as you direct. If your proxy card does not
    specify how you want to vote your shares, we will vote your
    shares &#147;FOR&#148; the election of all nominees for director
    and as recommended by the Board with regard to all other matters.
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You can also vote your shares electronically as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 10pt">VOTE BY INTERNET</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 10pt">VOTE BY TELEPHONE</FONT></B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <I><U><FONT style="font-size: 10pt">http://www.proxyvote.com<BR>
    </FONT></U></I><FONT style="font-size: 10pt">24&#160;hours a
    day/7&#160;days a week
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B><FONT style="font-size: 10pt">(800) 690-6903 via touch tone
    phone</FONT></B><FONT style="font-size: 10pt"> <BR>
    toll-free 24&#160;hours a day/7&#160;days a week
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><FONT style="font-size: 10pt">INSTRUCTIONS:</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B><FONT style="font-size: 10pt">INSTRUCTIONS:</FONT></B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Read the accompanying Proxy
    Statement. Have your
    <FONT style="white-space: nowrap">12-digit</FONT>
    control number located on your proxy card available.
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Read the accompanying Proxy
    Statement.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B><FONT style="font-size: 10pt">Call toll-free (800)
    690-6903</FONT></B>
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">Point your browser to<BR>
    <I><U>http://www.proxyvote.com</U></I>
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">You will be asked to enter your
    12-digit control number located on your proxy card.
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <FONT style="font-size: 10pt">and follow the instructions to
    cast your vote. You can also register to receive all future
    shareholder communications electronically, instead of in print.
    This means that the annual report, proxy statement, and other
    correspondence will be delivered to you electronically via
    <FONT style="white-space: nowrap">e-mail.</FONT>
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Votes submitted via the Internet or by telephone must be cast by
    12:00&#160;a.m.&#160;EDT on May&#160;24, 2006. Votes submitted
    by mail must be received on or before May&#160;19, 2006.
    Submitting your vote by mail, telephone or via the Internet will
    not affect your right to vote in person if you decide to attend
    the 2006 Annual Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>PLEASE DO NOT RETURN THE ENCLOSED PAPER BALLOT IF YOU ARE
    VOTING OVER THE INTERNET OR BY TELEPHONE.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Revocation
    of Proxies</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You can revoke your proxy at any time before it is voted at the
    Annual Meeting by any of the following three methods:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="1%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by voting in person at the Annual Meeting;
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by delivering to the Company&#146;s Secretary a written notice
    of revocation dated after the proxy;&#160;or
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    by delivering another proxy dated after the previous proxy.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Required
    Votes</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each share of common stock has one vote on all matters properly
    brought before the Annual Meeting. In order to conduct business
    at the Annual Meeting, a quorum of a majority of the outstanding
    shares of common stock entitled to vote as of the Record Date
    must be present in person or represented by proxy. The
    affirmative vote of a plurality of the shares represented at the
    meeting, in person or by proxy, will be necessary for the
    election of directors. The affirmative vote of a majority of the
    shares represented at the meeting, in person or by proxy, will
    be necessary for approval of the other Company proposals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Kenneth D. Tuchman, Chairman and Chief Executive Officer of the
    Company and the beneficial owner of approximately 53.8% of the
    shares of common stock entitled to vote at the meeting, has
    indicated that he intends to vote for all persons nominated by
    the Board of Directors for election to the Board of Directors
    and as recommended by the Board with regard to other proposals
    to be presented at the Annual Meeting.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Voting
    Procedures</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Votes cast by proxy at the Annual Meeting will be tabulated by
    an automatic system administered by ADP Investor Communication
    Services . Votes cast by proxy or in person at the Annual
    Meeting will be counted by the persons appointed by the Company
    to act as election inspectors for the Annual Meeting.
    Abstentions and broker
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    2
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    non-votes (as described below) are each included in the
    determination of the number of shares present at the Annual
    Meeting for purposes of determining the presence of a quorum and
    are tabulated separately. Abstentions are counted in tabulations
    of the votes cast on proposals presented to stockholders and
    except with respect to the election of directors, will have the
    same effect as negative votes. With regard to the election of
    directors, votes may be cast in favor or withheld; votes that
    are withheld will be excluded entirely from the tabulation of
    votes and will have no effect. Broker non-votes are not counted
    for purposes of determining whether a proposal has been approved.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If your shares are held in the name of a broker and you do not
    return a proxy card, brokerage firms have the authority to vote
    your non-voted shares on certain routine matters, such as the
    election of directors and the ratification of auditors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you hold shares in TeleTech&#146;s Employee Stock Purchase
    Plan (&#147;ESPP&#148;) and you do not return a proxy card,
    Wachovia Securities, as third party administrator of the ESPP
    has the authority to vote your shares on certain routine
    matters, such as the election of directors and the ratification
    of auditors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Cumulative voting is not permitted in the election of directors.
    Consequently, you are entitled to one vote for each share of
    TeleTech common stock held in your name for as many persons as
    there are directors to be elected, and for whose election you
    have the right to vote.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Costs of
    Proxy Solicitation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Company will bear the costs of soliciting proxies from its
    stockholders. Certain directors, officers and other employees of
    the Company, not specially employed for this purpose, may
    solicit proxies, without additional remuneration therefore, by
    personal interview, mail, telephone or other means of
    communication. The Company will request brokers and other
    fiduciaries to forward proxy soliciting material to the
    beneficial owners of shares of common stock that are held of
    record by such brokers and fiduciaries and will reimburse such
    persons for their reasonable
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Admission
    to the Annual Meeting</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If you plan to attend the Annual Meeting, please mark the
    appropriate box on the proxy card and return the proxy card
    promptly. If you are a stockholder of record and arrive at the
    Annual Meeting without an admission ticket, you will only be
    admitted once we verify your share ownership at the
    stockholders&#146; admission counter. If you are a beneficial
    owner, you will only be admitted upon presentation of evidence
    of your beneficial holdings, such as a bank or brokerage firm
    account statement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Stockholder
    List</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A complete list of stockholders entitled to vote at the Annual
    Meeting will be available for examination by any stockholder,
    for any purpose germane to the meeting, at the Annual Meeting
    and at the Company&#146;s Principal Office located at
    9197&#160;S.&#160;Peoria Street, Englewood, Colorado 80112
    during normal business hours for a period of at least
    10&#160;days prior to the Annual Meeting.
</DIV>


<!-- link1 "SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT" -->
<DIV align="left"><A NAME="001"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS<BR>
    AND MANAGEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The information presented below regarding beneficial ownership
    of TeleTech&#146;s common stock is presented in accordance with
    the rules of the Securities and Exchange Commission
    (&#147;SEC&#148;). Under these rules, beneficial ownership of
    common stock includes any shares to which a person, directly or
    indirectly, has or shares voting power or investment power
    within sixty (60)&#160;days through the exercise of any stock
    option or other right.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    3
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Security
    Ownership of Certain Beneficial Owners</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth, as of April&#160;3, 2006,
    information with respect to each person who was known by
    TeleTech to be the beneficial owner of more than 5% of
    TeleTech&#146;s common stock. We have calculated the percentage
    of beneficial ownership pursuant to
    <FONT style="white-space: nowrap">Rule&#160;13d-3(d)</FONT>
    under the Securities Exchange Act of 1934, as amended (the
    &#147;Exchange Act&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="67%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="6%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Number of Shares<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 8pt">Name and Address of Beneficial
    Owner</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Beneficially Owned</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Percent of Class</FONT></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Kenneth D. Tuchman
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">9197&#160;S.&#160;Peoria Street
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Englewood, Colorado 80112
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,274,615
</TD>
<TD nowrap align="left" valign="bottom">
    (1)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Pequot Capital Management,
    Inc.&#160;
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">500 Myala Farm Road
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Westport, Connecticut 06880
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,546,500
</TD>
<TD nowrap align="left" valign="bottom">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Barclays Global Investors, NA
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">45 Fremont St.
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">San&#160;Francisco, CA 94105
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,551,025
</TD>
<TD nowrap align="left" valign="bottom">
    (3)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.9
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes (a)&#160;36,835,449, shares subject to sole voting and
    investment power, which includes (i)&#160;5,696,554&#160;shares
    held by Mr.&#160;Tuchman, (ii)&#160;19,992,000&#160;shares held
    by a limited liability limited partnership controlled by
    Mr.&#160;Tuchman, (iii)&#160;10,000,000&#160;shares held by a
    revocable trust controlled by Mr.&#160;Tuchman;
    (iv)&#160;306,895&#160;shares held by a limited liability
    limited partnership in which Mr.&#160;Tuchman is the controlling
    general partner and (v)&#160;840,000&#160;shares subject to
    options exercisable within 60&#160;days and
    (b)&#160;439,166&#160;shares subject to shared voting and
    investment power, which includes (i)&#160;100,000&#160;shares
    held by a limited liability partnership in which
    Mr.&#160;Tuchman and his spouse own direct or indirect
    controlling partnership interests, (ii)&#160;300,000&#160;shares
    held by the Tuchman Family Foundation, established to benefit
    entities that have been granted exempt status under
    Section&#160;501(c)(3) of the Internal Revenue Code,
    (iii)&#160;29,166&#160;shares held by a trust for the benefit of
    Mr.&#160;Tuchman&#146;s nieces and nephews, for which
    Mr.&#160;Tuchman&#146;s spouse is the sole trustee and
    (iv)&#160;10,000&#160;shares held by Mr.&#160;Tuchman&#146;s
    spouse. Mr.&#160;Tuchman disclaims beneficial ownership of all
    shares held by the Tuchman Family Foundation, the trust for the
    benefit of Mr.&#160;Tuchman&#146;s nieces and nephews and his
    spouse.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Information obtained from a statement on Schedule&#160;13G filed
    with the SEC on February&#160;13, 2006.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Information obtained from a statement on Schedule&#160;13G filed
    with the SEC on January&#160;26, 2006</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Security
    Ownership of Management</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth information concerning shares of
    common stock beneficially owned by each director and named
    executive officer of TeleTech as of April&#160;3, 2006 and by
    all directors and executive officers as a group.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="49%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="6%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Total Number of<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Shares Subject to<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Shares Beneficially<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Options ***<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 8pt">Name</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Owned **</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">(Included in Total)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Percent of Class</FONT></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Kenneth D. Tuchman
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,274,615
</TD>
<TD nowrap align="left" valign="bottom">
    (1)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    840,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">James E. Barlett
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    849,500
</TD>
<TD nowrap align="left" valign="bottom">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    649,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">William A. Linnenbringer
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Ruth C. Lipper
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    70,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Shrikant C. Mehta
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    85,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Shirley Young
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Kamalesh Dwivedi
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    -0-
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    -0-
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Dennis J. Lacey
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    176,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    168,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">John Simon
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    80,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    80,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">All directors and executive
    officers as a group (9&#160;persons)
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,655,865
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,918,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    4
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    Less than 1%.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    ** </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes shares subject to acquisition through exercise of stock
    options within 60&#160;days of April&#160;3, 2006.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    *** </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes shares subject to acquisition through exercise of stock
    options that are exercisable within 60&#160;days of
    April&#160;3, 2006</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="center" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 439,166&#160;shares subject to shared voting and
    investment power.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="center" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 200,000&#160;shares of restricted stock.
    Mr.&#160;Barlett was originally granted 250,000&#160;shares of
    restricted stock for which restrictions on 100% of the shares
    have lapsed. Mr.&#160;Barlett surrendered 50,000&#160;shares of
    restricted stock back to the Company to satisfy the tax
    obligation pursuant to the terms of the Company&#146;s 1999
    Amended and Restated TeleTech Holdings, Inc. Stock Option Plan.</TD>
</TR>

</TABLE>


<!-- link1 "PROPOSAL 1:  ELECTION OF DIRECTORS" -->
<DIV align="left"><A NAME="002"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PROPOSAL&#160;1:<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ELECTION
    OF DIRECTORS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    At the Annual Meeting, six persons will be elected to the Board
    of Directors of the Company to hold office until the next Annual
    Meeting of stockholders and until their respective successors
    are duly elected and qualified. The Nominating and Governance
    Committee and the Board of Directors have nominated each of the
    persons named below and it is the intention of the persons named
    as proxies in the enclosed proxy to vote&#160;FOR the election
    of all such nominees. Each of the nominees is currently serving
    as a director of the Company and has consented to being named in
    this Proxy Statement as a nominee and to continue to serve as a
    director if elected. Information concerning the six nominees
    proposed for election to the Board of Directors is set forth
    below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In the event any of the nominees named below becomes unable or
    unwilling to serve as a director, shares represented by valid
    proxies will be voted FOR the election of such other person as
    the Board of Directors may nominate, or the number of directors
    that constitutes the full Board may be reduced to eliminate the
    vacancy.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Information
    Concerning the Nominees for Election as Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Kenneth D. Tuchman,</I> 46, founded TeleTech&#146;s
    predecessor company in 1982 and has served as the Chairman of
    the Board of Directors since TeleTech&#146;s formation in 1994.
    Mr.&#160;Tuchman served as the Company&#146;s President and
    Chief Executive Officer from the Company&#146;s inception until
    October of 1999. In March 2001, Mr. Tuchman resumed the position
    of Chief Executive Officer. Mr.&#160;Tuchman is also a member of
    the State of Colorado Governor&#146;s Commission on Science and
    Technology and a member of the Board of Directors of the Center
    for Learning and Leadership.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>James E. Barlett,</I> 62, has served as a director of
    TeleTech since February 2000 and Vice Chairman of TeleTech since
    October 2001. Before joining TeleTech as Vice Chairman,
    Mr.&#160;Barlett served as the President and Chief Executive
    Officer of Galileo International, Inc., a leading provider of
    travel information and transaction processing worldwide, from
    1994 to 2001, was elected Chairman in 1997 and served until
    2001. Prior to joining Galileo, Mr.&#160;Barlett served as
    Executive Vice President of Worldwide Operations and Systems for
    MasterCard International Corporation, where he was also a member
    of the MasterCard International Operations Committee.
    Previously, Mr.&#160;Barlett was Executive Vice President of
    Operations for NBD Bankcorp, Vice Chairman of Cirrus, Inc., and
    a partner with Touche Ross and Co., currently known as
    Deloitte&#160;&#38; Touche. Mr.&#160;Barlett also serves on the
    Boards of Korn/Ferry International and Celanese Corporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>William A. Linnenbringer, </I>57, was elected to the Board of
    Directors of TeleTech in February 2003. In his
    <FONT style="white-space: nowrap">32-year</FONT>
    career with PricewaterhouseCoopers (PwC), Mr.&#160;Linnenbringer
    held numerous leadership positions, including Managing Partner
    for the U.S.&#160;Banking and Financial Services Industry
    Practice, Chairman of the Global Financial Services Industry
    Practice, and a member of the firm&#146;s Policy Board and World
    Council of Partners. Mr.&#160;Linnenbringer retired as a partner
    of PwC in 2002.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Ruth C. Lipper,</I> 55, was elected to the Board of Directors
    of TeleTech in May 2002. Ms.&#160;Lipper has spent more than
    25&#160;years working in various financial and philanthropic
    leadership roles. From 1987 to 2000, Ms.&#160;Lipper was Senior
    Vice President and Treasurer for Lipper Analytical Services,
    Inc. Founded in 1973, Lipper Analytical
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Services was analyzing nearly 40,000 mutual funds through
    offices in the United States, London, and Hong Kong at the time
    of its sale to Reuters Group PLC in 1998. Ms.&#160;Lipper is
    currently a volunteer chairperson for the Lipper Family
    Foundation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Shrikant Mehta, </I>62, was elected to the Board of Directors
    of TeleTech in June 2004. Mr.&#160;Mehta is President and CEO of
    Combine International, Inc., a wholesale manufacturer of fine
    jewelry since 1974. He also serves on the Board of Directors of
    Distinctive Devices, Inc., Caprius, Inc. and various private
    corporations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Shirley Young,</I> Shirley Young, 70, was elected to the
    Board of Directors of TeleTech in August 2002. Ms.&#160;Young is
    President of Shirley Young Associates, LLC, a business advisory
    company, and serves as senior adviser to General Motors-Asia
    Pacific. She is a member of the Board of Governors of The Nature
    Conservancy and governor and founding chairman of the Committee
    of 100, a national Chinese&#160;&#151;&#160;American leadership
    organization. Previously, Ms Young served as corporate Vice
    President of General Motors responsible for China Strategic
    Development and Consumer Market Development in the U.S. and as
    Executive Vice President of Grey Advertising and President of
    Grey Strategic Marketing. She also served on the Board of
    Directors for Verizon, Bank of America, Harrahs, Dayton Hudson /
    Target and as Vice Chairman of the Nominating Committee of the
    New York Stock Exchange and currently serves on the Board of
    Directors of SalesForce.com.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Recommendation
    of the Board of Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Directors recommends that you vote &#147;FOR&#148;
    all of the nominees for election to the Board of Directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Information
    Regarding the Board of Directors and Committees
    Thereof</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Directors held four (4)&#160;meetings during our
    2005 fiscal year. All directors attended at least 75% of the
    total number of meetings held by the Board of Directors and by
    the committees of the Board of Directors on which they served.
    We do not have a formal policy on Board member attendance at our
    Annual Meetings although we encourage members of the Board to
    attend our Annual Meetings. Last year, three of our directors
    attended the Annual Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Directors determined that William Linnenbringer,
    Ruth Lipper, Shrikant Mehta and Shirley Young are independent
    under the NASDAQ listing standards. Beginning in 2003, we held
    regularly scheduled executive sessions at least four times each
    year, at which only our independent directors are present.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Directors has standing Audit, Compensation and
    Nominating and Governance Committees, which assist the Board in
    the discharge of its responsibilities. Members of each committee
    are elected by the Board and typically serve for one-year terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Committee is charged, among other things, with the
    responsibility of overseeing the accounting and financial
    reporting processes of the Company and the audits of the
    Company&#146;s financial statements, the appointment of the
    independent public accountants of TeleTech, the scope and fees
    of the prospective annual audit and the results thereof,
    compliance with TeleTech&#146;s accounting and financial
    policies and management&#146;s procedures and policies relative
    to the adequacy of TeleTech&#146;s internal accounting controls.
    The current members of the Audit Committee are William
    Linnenbringer (Chairman), Ruth Lipper and Shirley Young, each of
    whom is independent within the meaning of SEC regulations and
    the NASDAQ listing standards. George H. Heilmeier did not stand
    for reelection to our Board of Directors at the 2005 Annual
    Meeting of Stockholders, leaving us with one vacancy on our
    Audit Committee. In accordance with the NASDAQ listing
    standards, we filled such vacancy and have maintained an Audit
    Committee comprised of at least three independent Board members
    prior to the one year anniversary of such vacancy. Our Board of
    Directors determined that each of the members of the Audit
    Committee is able to read and understand fundamental financial
    statements, including the Company&#146;s balance sheet, income
    statement and cash flow statement. In addition, our Board of
    Directors has determined that William Linnenbringer qualifies as
    an &#147;audit committee financial expert&#148; within the
    meaning of the regulations of the SEC. During 2005, the Audit
    Committee held four (4)&#160;regularly scheduled meetings and
    six (6)&#160;special meetings and took all other actions
    pursuant to unanimous written consent in lieu of meetings. The
    Audit Committee has a written charter adopted by our Board of
    Directors. No changes have been made to the written charter
    during the past year. The
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    6
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Audit Committee reviews and assesses the adequacy of its charter
    on an annual basis. See &#147;Report from the Audit
    Committee&#148;.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Compensation Committee reviews performance goals and
    determines or approves the annual salary and bonus for each
    executive officer (consistent with the terms of any applicable
    employment agreement); reviews, approves and recommends terms
    and conditions for all employee benefit plans (and changes
    thereto); and administers the TeleTech Holdings, Inc. Amended
    and Restated 1999 Stock Option and Incentive Plan; the TeleTech
    Holdings, Inc. 1995 Stock Plan; the TeleTech Holdings, Inc.
    Employee Stock Purchase Plan and such other employee benefit
    plans as may be adopted by TeleTech from time to time. See
    &#147;Report of the Compensation Committee on Executive
    Compensation.&#148; The current members of the Compensation
    Committee are Shrikant Mehta (Chairman) and Ruth Lipper each of
    whom is an independent non-employee director of the Company
    within the meaning of SEC regulations and the NASDAQ listing
    standards. During 2005, the Compensation Committee held four
    (4)&#160;regularly scheduled meetings and zero (0)&#160;special
    meetings and took all other actions pursuant to unanimous
    written consents in lieu of meetings. The Compensation Committee
    operates under the Compensation Committee Charter adopted by our
    Board. No changes have been made to the written charter during
    the past year.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Nominating and Governance Committee is charged, among other
    things, with identifying and recommending to the Board of
    Directors qualified candidates for election or appointment to
    the Board of Directors, overseeing matters of corporate
    governance, including the evaluation of Board performance and
    processes and assignment and rotation of Board Committee
    members. The Nominating and Governance Committee utilizes a
    variety of methods for identifying and evaluating nominees for
    director. The current members of the Nominating and Governance
    Committee are Ruth Lipper (Chairman) and William Linnenbringer
    each of whom satisfy the independence requirements for
    nominating committee members pursuant to the NASDAQ listing
    standards. During 2005, the Nominating and Governance Committee
    held four (4)&#160;regularly scheduled meetings and zero
    (0)&#160;special meetings. The Nominating and Governance
    Committee is governed by the Nominating and Governance Committee
    Charter adopted by our Board of Directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We have adopted a Code of Conduct applicable to all of our
    directors, officers (including its chief executive officers,
    chief financial officer, controller and any person performing
    similar functions) and employees which includes the prompt
    disclosure of any waiver of the Code for executive officers or
    directors approved by the Board of Directors. The Company has
    made the Code of Conduct available on its website at
    <U>http://www.teletech.com</U> and intends to disclose any
    waivers of, or amendments to, the Code on its website. Copies of
    the Audit Committee Charter, the Nominating and Governance
    Committee Charter, Compensation Committee Charter, Code of
    Conduct, and Corporate Governance Guidelines are available on
    the Company&#146;s website at www.teletech.com under
    &#147;Investors&#148;, &#147;Corporate Governance&#148;. You may
    also obtain a copy of any of these documents without charge by
    writing to: TeleTech Holdings, Inc., at 9197 S. Peoria Street,
    Englewood, Colorado 80112, Attention: Corporate Secretary.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Communications
    with the Board</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Stockholders may communicate with the Board or any of the
    directors by sending written communications addressed to the
    Board or any of the directors c/o&#160;Corporate Secretary,
    TeleTech Holdings, Inc., 9197&#160;S.&#160;Peoria Street,
    Englewood, Colorado 80112. All communications are compiled by
    the Corporate Secretary and forwarded to the Board or the
    individual director(s) accordingly.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Compensation
    of Directors</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Directors who are also employees of the Company receive no
    remuneration for serving as directors or committee members.
    Non-Employee directors receive (i)&#160;an annual retainer of
    $40,000 paid quarterly, (ii)&#160;a meeting fee of $1,000 for
    each Board and Committee meeting attended and (iii)&#160;a
    meeting fee of $500 for each telephonic Board and Committee
    meeting attended. The Chairmen of the Compensation and
    Nominating&#160;&#38; Governance Committees receive an
    additional fee of $5,000&#160;per year and the Chairman of the
    Audit Committee receives an additional fee of $20,000&#160;per
    year. Non-Employee directors also receive options pursuant to
    the TeleTech Holdings, Inc. Amended and Restated 1999 Stock
    Option and Incentive Plan. Each Non-Employee director who is
    first elected or appointed to the Board receives an option to
    purchase 10,000&#160;shares of common stock. Each Non-Employee
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    7
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    director also receives an option to purchase 15,000&#160;shares
    of common stock on the day of each annual meeting of
    shareholders subsequent to his or her election or appointment to
    the Board, provided that he or she continues in office after the
    annual meeting. The exercise price for each option granted is
    100% of the market value of the common stock on the date of
    grant as evidenced by the closing share price on the NASDAQ
    National Market. Options vest immediately upon date of grant and
    are exercisable into restricted stock for which restrictions
    shall lapse one year after the date of grant.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Nominations
    of Directors</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In the event that vacancies on the Board arise, the Nominating
    and Governance Committee considers potential candidates for
    director, which may come to the attention of the Nominating and
    Governance Committee through current directors, professional
    executive search firms, shareholders or other persons. The
    Nominating and Governance Committee will consider candidates for
    the Board recommended by stockholders if the names and
    qualifications of such candidates are submitted in writing in
    accordance with the notice provisions for stockholder proposals
    set forth under the caption &#147;General
    Information&#160;&#151;&#160;Next Annual Meeting of
    Stockholders&#148; in this Proxy Statement to the Corporate
    Secretary of TeleTech, 9197&#160;S.&#160;Peoria Street,
    Englewood, Colorado 80112. The Nominating and Governance
    Committee considers properly submitted shareholder nominations
    for candidates for the Board of Directors in the same manner as
    it evaluates other nominees. Following verification of the
    shareholder status of persons proposing candidates,
    recommendations are aggregated and considered by the Nominating
    and Governance Committee and the materials provided by a
    shareholder to the Company for consideration of a nominee for
    director are forwarded to the Nominating and Governance
    Committee. All candidates are evaluated at meetings of the
    Nominating and Governance Committee. In evaluating such
    nominations, the Nominating and Governance Committee seeks to
    achieve the appropriate balance of industry and business
    knowledge and experience in light of the function and needs of
    the Board of Directors. The Nominating and Governance Committee
    considers candidates with excellent decision-making ability,
    business experience, personal integrity and reputation. In
    addition, the Nominating and Governance Committee recognizes the
    benefit of a Board of Directors that reflects the diversity of
    the Company&#146;s stockholders, employees and customers, and
    the locations in which it operates, and will seek qualified
    candidates for nomination and election to the Board of Directors
    in order to reflect such diversity. The Nominating and
    Governance Committee reviews, approves and oversees various
    corporate governance policies and recommends changes, if any, to
    the Board of Directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Section&#160;16(a)
    Beneficial Ownership Reporting Compliance</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Section&#160;16(a) of the Exchange Act requires the
    Company&#146;s directors, executive officers and beneficial
    owners of more than 10% of the outstanding common stock
    (collectively, &#147;insiders&#148;) to file reports with the
    SEC disclosing their ownership of common stock and changes in
    such ownership. The rules of the SEC require insiders to provide
    the Company with copies of all Section&#160;16(a) reports that
    the insiders file with the SEC. Based solely upon the
    Company&#146;s review of copies of Section&#160;16(a) reports
    received by it, and written representations that no such reports
    were required to be filed with the SEC, the Company believes
    that all of its insiders complied with all Section&#160;16(a)
    filing requirements applicable to them during 2005.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    8
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->


<!-- link1 "EXECUTIVE COMPENSATION" -->
<DIV align="left"><A NAME="003"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXECUTIVE
    COMPENSATION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth information with respect to
    compensation earned by Kenneth D. Tuchman, the Company&#146;s
    Chief Executive Officer and the next four most highly
    compensated executive officers who were serving as executive
    officers as of December&#160;31, 2005 (collectively, the
    &#147;named executive officers&#148;).
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Summary
    Compensation Table</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="31%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="11" align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Long-Term<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">Compensation</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Securities<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="11" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">Annual Compensation</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Restricted<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Underlying<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">All Other<BR>
    </FONT></B>
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Salary<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Bonus<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Other Annual<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Stock<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Options<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 7pt">Compensation<BR>
    </FONT></B>
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 7pt">Name and Principal
    Position</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">Year</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">($)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">($)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">Compensation</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">Award(s)(3)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">(#)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 7pt">($)</FONT></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Kenneth D. Tuchman
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2005
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    339,230
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    500,000
</TD>
<TD nowrap align="left" valign="top">
    (8)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    20,329
</TD>
<TD nowrap align="left" valign="top">
    (1)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    800,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Chairman&#160;&#38; Chief
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2004
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    289,615
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    45,487
</TD>
<TD nowrap align="left" valign="top">
    (1)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Executive Officer
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2003
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    250,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    52,608
</TD>
<TD nowrap align="left" valign="top">
    (1)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">James E. Barlett
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2005
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    345,961
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    37,074
</TD>
<TD nowrap align="left" valign="top">
    (1)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1,498,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    250,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Vice Chairman
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2004
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    289,615
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    42,154
</TD>
<TD nowrap align="left" valign="top">
    (1)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2003
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    240,384
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    76,233
</TD>
<TD nowrap align="left" valign="top">
    (1)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Dennis J. Lacey
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2005
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    295,384
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    300,000
</TD>
<TD nowrap align="left" valign="top">
    (8)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10,703
</TD>
<TD nowrap align="left" valign="top">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Executive Vice
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2004
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    311,538
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    300,000
</TD>
<TD nowrap align="left" valign="top">
    (5)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5,658
</TD>
<TD nowrap align="left" valign="top">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    75,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">President&#160;&#38; Chief
    Financial Officer
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2003
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    184,615
</TD>
<TD nowrap align="left" valign="top">
    (4)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    160,000
</TD>
<TD nowrap align="left" valign="top">
    (6)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    234,207
</TD>
<TD nowrap align="left" valign="top">
    (7)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    200,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Kamalesh D Dwivedi
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2005
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    246,153
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    250,000
</TD>
<TD nowrap align="left" valign="top">
    (8)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    39,700
</TD>
<TD nowrap align="left" valign="top">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Executive Vice
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2004
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    259,615
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    300,000
</TD>
<TD nowrap align="left" valign="top">
    (9)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    90,591
</TD>
<TD nowrap align="left" valign="top">
    (7)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    75,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">President&#160;&#38; Chief
    Information Officer
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2003
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    91,346
</TD>
<TD nowrap align="left" valign="top">
    (4)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    30,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    16,534
</TD>
<TD nowrap align="left" valign="top">
    (7)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    200,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">John Simon
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2005
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    243,269
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    250,000
</TD>
<TD nowrap align="left" valign="top">
    (8)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5,112
</TD>
<TD nowrap align="left" valign="top">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    70,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">Executive Vice
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2004
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    259,615
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    200,000
</TD>
<TD nowrap align="left" valign="top">
    (5)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    7,403
</TD>
<TD nowrap align="left" valign="top">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    50,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="top">
<DIV style="text-indent: 0pt; margin-left: 10pt">
    <FONT style="font-size: 9pt">President&#160;&#151;&#160;Global
    Human Capital
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2003
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    231,949
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    9,247
</TD>
<TD nowrap align="left" valign="top">
    (2)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    -0-
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes auto allowance, imputed income from Deferred
    Compensation Plan, Executive Life Benefit and executive benefits
    paid by TeleTech.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes imputed income from Deferred Compensation Plan, and
    executive benefits paid by TeleTech.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    The value of Mr.&#160;Barlett&#146;s restricted stock for which
    restrictions lapsed on October&#160;15, 2005 was $1,498,000.
    These shares were valued using the closing share price of $9.99
    as reported on the Nasdaq National Market on the date
    restrictions lapsed. Mr.&#160;Barlett surrendered
    50,000&#160;shares of restricted stock back to the Company to
    satisfy the tax obligation pursuant to the terms of the
    Company&#146;s 1999 Amended and Restated TeleTech Holdings, Inc.
    Stock Option Plan</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Indicates partial year compensation.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Indicates bonus for 2004 paid in March 2005.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes contractually guaranteed bonus of $80,000 for 2003 paid
    in March 2004 and incentive sign on bonus of $80,000 upon
    commencement of employment.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes executive benefits paid by TeleTech and relocation
    costs paid or reimbursed by TeleTech and taxes associated with
    relocation.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (8) </TD>
    <TD></TD>
    <TD valign="bottom">
    Indicates bonus for 2005 paid in February 2006.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (9) </TD>
    <TD></TD>
    <TD valign="bottom">
    Indicates bonus for 2004 paid in February 2005 and guaranteed
    bonus of $75,000 payable after six months of employment.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    9
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Option
    Grants in 2005</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth information with respect to
    options to purchase shares of the Company&#146;s common stock
    that were granted in fiscal 2005 to the named executive officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="32%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Individual Grants</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Number of<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">% of Total<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Securities<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Options<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Potential Realizable Value<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Underlying<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Granted to<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">at Assumed Annual Rates<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Options<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Employees<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Exercise or<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">of Stock Price Appreciation<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Granted<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">in Fiscal<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Base Price<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Expiration<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">for Option Term(2)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 8pt">Name</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">(#)(1)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Year</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">($/Sh)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Date</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">5%($)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">10%($)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Kenneth D. Tuchman
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    800,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/4/15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,710,363
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,471,182
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">James E. Barlett
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7.34
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5/13/15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,154,022
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,924,517
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Kamalesh Dwivedi
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Dennis Lacey
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">John Simon
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    70,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10/25/15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    465,759
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,180,326
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    These stock options become exercisable in 25% increments on the
    first, second, third, and fourth anniversaries of the date of
    grant and expire 10&#160;years from the grant date.</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    The potential realizable value is calculated assuming that the
    fair market value on the date of grant, which equals the
    exercise price, appreciates at the indicated annual rate (set by
    the SEC), compounded annually, for the
    <FONT style="white-space: nowrap">10-year</FONT> term
    of the option.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Aggregated
    Option Exercises in 2005 and Fiscal Year-End Option
    Values</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets forth information with respect to
    options exercised during 2005, and the aggregate number and
    value of shares underlying unexercised options held as of
    December&#160;31, 2005, by each of the named executive officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="30%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Number of Shares<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Underlying Unexercised<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Value of Unexercised<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Shares<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Value<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Options as of<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt"><FONT style="white-space: nowrap">In-the-Money</FONT>
    Options as of<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Acquired on<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Realized<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">December&#160;31, 2005
    (#)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">December&#160;31, 2005
    ($)(1)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 8pt">Name</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Exercise (#)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">($)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Exercisable</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Unexercisable</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Exercisable</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Unexercisable</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Kenneth D. Tuchman
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    840,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    800,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,221,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    560,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">James E. Barlett
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    562,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    275,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,951,230
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,183,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Kamalesh Dwivedi
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    113,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    332,635
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    -0-
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    993,707
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Dennis J. Lacey
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    118,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    156,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    838,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    968,570
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">John Simon
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    71,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    124,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    283,475
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=455 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    The value of each option is based on $12.05, the last reported
    sales price of the common stock as reported on the Nasdaq
    National Stock Market on December&#160;31, 2005, less the
    exercise price payable for such shares.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    10
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Equity
    Compensation Plan Information</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table sets out, as of December&#160;31, 2005, the
    number of shares of TeleTech common stock to be issued upon
    exercise of outstanding options, warrants and rights, the
    weighted average exercise price of outstanding options, warrants
    and rights, and the number of securities available for future
    issuance under equity compensation plans.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="41%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="10%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Number of Securities<BR>
    </FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Number of Securities<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Remaining Available for<BR>
    </FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">to be Issued Upon<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Weighted-Average<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Future Issuance Under<BR>
    </FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Exercise of<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Exercise Price of<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Equity Compensation Plans<BR>
    </FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Outstanding Options,<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">Outstanding Options,<BR>
    </FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">(Excluding Securities<BR>
    </FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B><FONT style="font-size: 8pt">Plan Category</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Warrants and Rights</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Warrants and Rights</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><FONT style="font-size: 8pt">Reflected in
    Column(a))</FONT></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">(a)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">(b)</FONT></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B><FONT style="font-size: 8pt">(c)</FONT></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Equity compensation plans approved
    by security holders
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,652,748
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,754,228
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="font-size: 10pt">Equity compensation plans not
    approved by security holders
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    -0-
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    -0-
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    -0-
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: white">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="font-size: 10pt">Total
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,652,748
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,754,228
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Employment
    Agreements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Agreement with Kenneth D. Tuchman.</I>&#160;&#160;The Company
    entered into an employment agreement with Kenneth D. Tuchman,
    the Company&#146;s Chief Executive Officer effective
    October&#160;1, 2001. Pursuant to his agreement,
    Mr.&#160;Tuchman is entitled to receive an annual base salary of
    $250,000. During the term, Mr.&#160;Tuchman&#146;s base salary
    may be increased or decreased in a non-material way at the sole
    discretion of the Board of Directors. In September 2004, the
    Board of Directors voted to increase Mr.&#160;Tuchman&#146;s
    salary to $350,000. In October 2001, Mr.&#160;Tuchman was also
    granted an option to purchase 420,000&#160;shares of common
    stock at $6.98&#160;per share. The option vested as to 50% on
    October&#160;1, 2001 and as to 100% on December&#160;31, 2001.
    In February 2002, Mr.&#160;Tuchman was granted an option to
    purchase 420,000&#160;shares of common stock at $11.83&#160;per
    share. The option vested as to 100% on February&#160;25, 2003.
    In November 2005, Mr.&#160;Tuchman was granted an option to
    purchase 800,000&#160;shares of common stock at $11.35&#160;per
    share. Pursuant to his agreement, Mr.&#160;Tuchman will be
    entitled to participate in all other employee benefit plans, in
    each case, on terms and conditions no less favorable than the
    terms and conditions generally applicable to Mr. Tuchman&#146;s
    peers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If, during the term, the Company terminates
    Mr.&#160;Tuchman&#146;s employment other than for cause, death
    or disability or if Mr.&#160;Tuchman resigns the Company will
    pay to Mr.&#160;Tuchman as severance a sum equal to twenty-four
    (24)&#160;months of Mr. Tuchman&#146;s then current base salary
    payable in twenty four equal installments and will cause to vest
    all of Mr.&#160;Tuchman&#146;s unvested stock options that would
    have vested during the twelve months following termination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If any payments or benefits that Mr.&#160;Tuchman receives are
    determined to be a &#147;parachute payment&#148; within the
    meaning of Section&#160;280G(b)(2) of the Internal Revenue Code,
    his employment agreement provides for an additional payment to
    him to restore him to the after-tax position that he would have
    been in, if the tax had not been imposed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    During Mr.&#160;Tuchman&#146;s employment and for a period of
    three years thereafter, Mr.&#160;Tuchman will be subject to
    non-competition and non-solicitation of employees provisions.
    During the term and thereafter, Mr.&#160;Tuchman has agreed not
    to disclose confidential information or to disparage the Company
    or its affiliates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Agreement with James E. Barlett.</I>&#160;&#160;In October
    2001, the Company entered into an employment agreement with
    James Barlett, a director of the Company, to serve as Vice
    Chairman of the Company. As compensation for his services as
    Vice Chairman of the Company, Mr.&#160;Barlett receives an
    annual salary of $250,000&#160;per year. In September 2004, the
    Board of Directors voted to increase Mr.&#160;Barlett&#146;s
    annual salary to $350,000. In October 2001, Mr.&#160;Barlett was
    also granted an option to purchase 400,000&#160;shares of common
    stock at $7.84&#160;per share. The option vests over a period of
    4&#160;years. Mr.&#160;Barlett also received a grant of
    200,000&#160;shares of restricted common stock for which
    restrictions lapsed as to 50% on October&#160;&#160;15, 2003 and
    lapsed with respect to 100% on October&#160;15, 2005 and a grant
    of 50,000&#160;shares of restricted common stock for which
    restrictions lapsed as to 100% on October&#160;15, 2005. In May
    2005, Mr.&#160;Barlett received an option to purchase
    250,000&#160;shares of common stock at $7.34&#160;per share.
    Both grants of
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    11
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    restricted stock contain provisions which provide for the
    immediate lapse of all restrictions upon a change of control.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Agreement with Dennis J. Lacey.</I>&#160;&#160;The Company
    entered into an employment agreement with Dennis J. Lacey, Chief
    Financial Officer effective May&#160;5, 2003 whereby
    Mr.&#160;Lacey is entitled to receive a base salary of $300,000
    with an annual bonus targeted at 100% of his base salary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Agreement with Kamalesh Dwivedi.</I>&#160;&#160;The Company
    entered into a letter agreement with Kamalesh Dwivedi, Chief
    Information Officer effective July&#160;7, 2003 whereby
    Mr.&#160;Dwivedi is entitled to receive (i)&#160;a base salary
    of $250,000, (ii)&#160;a guaranteed minimum bonus of $75,000
    paid six months after start date; (iii)&#160;a signing bonus of
    $30,000 and an annual bonus targeted at 60% of his base salary.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Executive
    Change of Control and Termination Arrangements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Company&#146;s standard option agreement for employees who
    are employed at the vice president level or higher contains a
    provision whereby the vesting of such stock options (which
    typically have a 4 or 5&#160;year vesting period) would
    accelerate by a period of 2&#160;years immediately upon the
    occurrence of a change of control.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Certain
    Relationships and Related Party Transactions</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Company has entered into agreements pursuant to which Avion,
    LLC (&#147;Avion&#148;) and AirMax, LLC (&#147;AirMax&#148;)
    provide certain aviation flight services to and as requested by
    the Company. Such services include the use of an aircraft and
    flight crew. Kenneth D. Tuchman, Chief Executive Officer and
    Chairman of the Board of the Company, has a direct beneficial
    ownership interest equal to 100% in Avion. During 2005, the
    Company paid an aggregate of $884,715 to Avion for services
    provided to the Company. Mr.&#160;Tuchman also purchases
    services from AirMax from time to time and provides short-term
    loans to AirMax. During 2005, the Company paid to AirMax an
    aggregate of $1,134,752 for services provided to the Company.
    The Audit Committee of the Board of Directors reviewed these
    transactions quarterly and determined that the fees charged by
    Avion and Airmax are at fair market value.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    During 2005, the Company utilized the services of Salesforce.com
    (&#147;SFC&#148;). Shirley Young, a director of the Company, is
    also a director of SFC. During 2005, the Company paid
    approximately $539,684 to SFC. Ms.&#160;Young&#146;s only
    remuneration from SFC consists of board fees for services as a
    director of SFC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    TeleTech believes that all transactions disclosed above have
    been, and TeleTech&#146;s Board of Directors intends that any
    future transactions with its officers, directors, affiliates or
    principal stockholders will be, on terms that are no less
    favorable to TeleTech than those that are obtainable in
    arm&#146;s length transactions with unaffiliated third parties.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Compensation
    Committee Interlocks and Insider Participation in Compensation
    Decisions.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Shrikant Mehta and Ruth Lipper served on the Compensation
    Committee of the Board of Directors. There were no Compensation
    Committee interlocks during 2005.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>Notwithstanding anything to the contrary set forth in any
    of the Company&#146;s previous filings under the Securities Act
    of 1933 (&#147;Securities Act&#148;) or the Exchange Act that
    might incorporate future filings, including this proxy
    statement, in whole or in part, the reports of the Audit and
    Compensation Committees presented below and the performance
    graph following the reports shall not be deemed to be
    &#147;soliciting material&#148; or &#147;filed&#148; with the
    SEC or subject to liabilities of Section&#160;18 of the Exchange
    Act except to the extent that TeleTech specifically incorporates
    any of them into a document filed under the Securities Act or
    Exchange Act.</I></B>
</DIV>


<!-- link1 "REPORT OF THE COMPENSATION  COMMITTEE ON EXECUTIVE COMPENSATION" -->
<DIV align="left"><A NAME="004"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">REPORT OF
    THE COMPENSATION<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">COMMITTEE
    ON EXECUTIVE COMPENSATION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Compensation Committee of the Company&#146;s Board of
    Directors (the &#147;Compensation Committee&#148;) approves and
    oversees the Company&#146;s compensation policy, approves
    salaries and annual bonuses for executive
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    12
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    officers of the Company, including the named executive officers,
    and administers the Company&#146;s stock option plans and stock
    purchase plan. In fulfilling its responsibilities, the
    Compensation Committee receives significant input from the
    Company&#146;s Chief Executive Officer and other members of
    senior management. The Compensation Committee is composed of
    independent non-employee directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Compensation
    Policy</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Components of Compensation.</I>&#160;&#160;The Company&#146;s
    compensation policy for executive management is designed to
    recruit, motivate and retain highly qualified individuals by
    (i)&#160;rewarding individual achievement, (ii)&#160;enabling
    individuals to share in the risks and rewards of the
    Company&#146;s overall performance and (iii)&#160;paying
    compensation that is competitive with industry compensation
    levels. The key components of the Company&#146;s current
    compensation policy, which is designed to balance short-term and
    long-term considerations, are competitive salaries, annual cash
    performance bonuses and long-term equity incentives. In February
    2004, the Compensation Committee approved a Management Incentive
    Plan (&#147;MIP&#148;) based on company profitability to
    determine the specific amount of bonus compensation payable to
    any member of management. The Compensation Committee also
    determined that all members of management should undergo an
    annual performance review.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">2005
    Compensation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Annual Salaries.</I>&#160;&#160;The Chief Executive Officer
    of the Company has authority to hire all members of executive
    management of the Company, subject to the Compensation
    Committee&#146;s approval of the compensation to be paid to such
    executives. Subject to the approval of the Compensation
    Committee, the Chief Executive Officer also determines the
    compensation payable to persons offered executive level
    employment with the Company and annual salary increases for
    members of the Company&#146;s executive management. The Board,
    at the recommendation of the Compensation Committee, determines
    adjustments to the Chief Executive Officer&#146;s compensation
    and evaluates the performance of the Chief Executive Officer. In
    determining and approving the amount of compensation for
    executive management, the Chief Executive Officer and the
    Compensation Committee consider factors such as the
    executive&#146;s contribution to the Company&#146;s overall
    operating effectiveness, strategic success and profitability;
    the executive&#146;s role in developing and maintaining key
    client relationships; the level of responsibility, scope and
    complexity of such executive&#146;s position relative to other
    executive management; and the executive&#146;s leadership growth
    and management development over the past year. The salaries of
    the Company&#146;s named executive officers, which are listed in
    the Summary Compensation Table located elsewhere in this proxy
    statement, are governed primarily by written agreements or the
    terms contained in offers of employment with the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Performance Bonuses.</I>&#160;&#160;In February 2005, the
    Compensation Committee pursuant to the Company&#146;s MIP
    conducted annual performance reviews of all executive
    management. Pursuant to the MIP, cash performance bonuses for
    executives are determined and approved annually by the
    Compensation Committee based on specific metrics relative to the
    Company&#146;s overall performance including revenue growth,
    operating margin, capital expenditure, earnings per share and
    cash flow.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Long-Term Incentives.</I>&#160;&#160;Stock-based compensation
    is also an important element of the Company&#146;s compensation
    policy. Stock options are generally offered to induce an
    executive to accept employment with the Company. The
    Compensation Committee believes that stock options, which vest
    over time and are subject to forfeiture, align the interests of
    executive management with the interests of the Company&#146;s
    stockholders. The Compensation Committee also believes that
    substantial equity ownership by individuals in leadership
    positions within the Company ensure that such individuals will
    remain focused on building stockholder value. An executive
    officer level committee, consisting of the Company&#146;s Chief
    Executive Officer, the Company&#146;s Chief Financial Officer
    and the Executive Vice President of Global Human Capital, has
    the authority to administer the Company&#146;s stock option
    plans with respect to option grants of not more than 100,000
    options to employees who are not executive officers. Any stock
    option grants in excess of 100,000 options or to an executive
    officer must be approved by the Compensation Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In December 2004, the Board of Directors approved a long term
    incentive plan (LTIP) under which executive management and other
    key leaders in the Company are eligible. Under the LTIP,
    participants are eligible to earn an
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    13
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    incentive award upon completion of the 2007 fiscal year
    conditional upon the Company meeting certain revenue and EBIT
    targets approved by the Board of Directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Compensation of the Chief Executive
    Officer.</I>&#160;&#160;Pursuant to Mr.&#160;Tuchman&#146;s
    employment agreement as described above, Mr.&#160;Tuchman was
    not entitled to receive an annual bonus. Mr.&#160;Tuchman is
    paid a base salary of $250,000. In September 2004, the Board of
    Directors voted to increase Mr.&#160;Tuchman&#146;s salary to
    $350,000. Mr.&#160;Tuchman also received a cash bonus for 2005
    of $500,000 that was paid out in February 2006. Based upon its
    review of proxy statements filed by similarly situated
    companies, the Compensation Committee believes this compensation
    is in line with the compensation paid to similarly situated
    Chief Executive Officers. The Board reviews
    Mr.&#160;Tuchman&#146;s performance once annually.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Limitations on the Deductibility of
    Compensation.</I>&#160;&#160;Under Section&#160;162(m) of the
    Internal Revenue Code of 1986, as amended, and applicable
    Treasury regulations, no tax deduction is allowed for annual
    compensation in excess of $1&#160;million paid to the five most
    highly compensated executive officers. Performance-based
    compensation that has been disclosed to and approved by
    stockholders, by a majority of the vote in a separate
    stockholder vote before the payment of such compensation, is
    excluded from the $1&#160;million limit if, among other
    requirements, the compensation is payable only upon attainment
    of pre-established, objective performance goals and the Board
    committee that establishes such goals consists only of
    &#147;outside directors&#148; as defined for purposes of
    Section&#160;162(m). Each of the members of the Compensation
    Committee qualify as &#147;outside directors.&#148; The
    Compensation Committee intends to maximize the extent of tax
    deductibility of executive compensation under the provisions of
    Section&#160;162(m) so long as doing so is compatible with its
    determinations as to the most appropriate methods and approaches
    for the design and delivery of compensation to executive
    officers of the Company.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    SUBMITTED BY THE COMPENSATION<BR>
    COMMITTEE OF THE BOARD OF DIRECTORS
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Shrikant Mehta, Chairman
</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Ruth Lipper
</DIV>


<!-- link1 "REPORT FROM THE AUDIT COMMITTEE" -->
<DIV align="left"><A NAME="005"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">REPORT
    FROM THE AUDIT COMMITTEE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Management is responsible for the Company&#146;s financial
    reporting process including its system of internal control, and
    for the preparation of consolidated financial statements in
    accordance with accounting principles generally accepted in the
    United States of America. The Company&#146;s independent
    auditors are responsible for auditing those financial
    statements. Our responsibility is to monitor and review these
    processes. It is not our duty or our responsibility to conduct
    auditing or accounting reviews or procedures. We are not
    employees of the Company and we may not be, and we may not
    represent ourselves to be or to serve as, accountants or
    auditors by profession or experts in the fields of accounting or
    auditing. Therefore, we have relied, without independent
    verification, on management&#146;s representation that the
    financial statements have been prepared with integrity and
    objectivity and in conformity with accounting principles
    generally accepted in the United States of America and on the
    representations of the independent auditors included in their
    report on the Company&#146;s financial statements. Our oversight
    does not provide us with an independent basis to determine that
    management has maintained appropriate accounting and financial
    reporting principles or policies, or appropriate internal
    controls and procedures designed to assure compliance with
    accounting standards and applicable laws and regulations.
    Furthermore, our considerations and discussions with management
    and the independent auditors do not assure that the
    Company&#146;s financial statements are presented in accordance
    with generally accepted accounting principles or that the audit
    of our Company&#146;s financial statements has been carried out
    in accordance with generally accepted auditing standards.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    14
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We perform the following functions:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="1%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    provide an open avenue of communication among the Company&#146;s
    independent auditor, the Company&#146;s Vice President of
    Internal Audit and the Board of Directors.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    oversee the adequacy of the Company&#146;s internal controls and
    financial reporting process and the reliability of the
    Company&#146;s financial statements.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    confirm and assure the independence of the Company&#146;s
    independent auditors.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    review and approve the provision by the independent auditors all
    permissible non-audit services.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    oversee the function, adequacy and progress of the
    Company&#146;s internal audit department.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    conduct or authorize investigations into any matters within the
    committee&#146;s scope of responsibility.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    review and approve the establishment and compliance with the
    Company&#146;s Code of Conduct.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    review and approve all related-party transactions.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We meet with management periodically to consider the adequacy of
    the Company&#146;s internal controls and the objectivity of its
    financial reporting. We discuss these matters with the
    Company&#146;s independent auditors and with appropriate Company
    financial personnel, including the Company&#146;s Vice President
    of Internal Audit.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We are also directly responsible for the appointment,
    compensation and oversight of the work of the independent
    auditors and review periodically their performance and
    independence from management.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Directors who serve on the committee are all
    &#147;Independent&#148; for purposes of the NASD standards. That
    is, the Board of Directors has determined that none of us has a
    relationship with TeleTech that may interfere with our
    independence from TeleTech and its management.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The independent auditors audit the annual financial statements
    prepared by management, express an opinion as to whether those
    financial statements fairly present the financial position,
    results of operations and cash flows of the Company in
    conformity with accounting principles generally accepted in the
    United States of America and discuss with us any issues they
    believe should be raised with us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This year, we reviewed the Company&#146;s financial statements
    and met with both management and Ernst&#160;&#38; Young, LLP,
    the Company&#146;s independent auditors, to discuss those
    financials statements. Management has represented to us that the
    financial statements were prepared in accordance with accounting
    principles generally accepted in the United States of America.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We have received from and discussed with Ernst&#160;&#38; Young,
    LLP the written disclosure and the letter required by
    Independence Standards Board Standard No. 1 (Independence
    Discussions with Audit Committees) and have discussed with
    Ernst&#160;&#38; Young, LLP such firm&#146;s independence from
    the Company. We also discussed with Ernst&#160;&#38; Young, LLP
    any matters required to be discussed by Statement on Auditing
    Standards No.&#160;61 (Communication with Audit Committees), as
    amended.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Based on these reviews and discussions, we recommended to the
    Board that the Company&#146;s audited financial statements be
    included in the Company&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2005 for filing with the
    Securities and Exchange Commission.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    William A. Linnenbringer, Chairman<BR>
    Shirley Young<BR>
    Ruth Lipper
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    15
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->


<!-- link1 "INDEPENDENT AUDIT FEES FOR 2005" -->
<DIV align="left"><A NAME="006"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INDEPENDENT
    AUDIT FEES FOR 2005</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For the year ended December&#160;31, 2004 and December&#160;31,
    2005, we were billed by Ernst&#160;&#38; Young, LLP aggregate
    fees as discussed below.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="1%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Audit Fees.</I>&#160;&#160;Fees for audit services totaled
    approximately $1,778,602 in 2005 and approximately $1,865,000 in
    2004, including fees associated with the annual audit, the
    reviews of the Company&#146;s quarterly reports on
    <FONT style="white-space: nowrap">Form&#160;10-Q</FONT>
    and statutory audits required internationally. In 2004 and 2005,
    Audit fees above included fees from work related to the
    attestation of management&#146;s report on the effectiveness of
    internal control over financial reporting according to the
    requirements of Section&#160;404 of the Sarbanes Oxley Act of
    2002.
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Audit-Related Fees:</I>&#160;&#160;Fees for audit-related
    services totaled approximately $303,239 in 2005 and
    approximately $203,000 in 2004. Audit-related services
    principally included due diligence in connection with proposed
    acquisitions, accounting consultations, benefit plan audits and
    services related to the Company&#146;s preparation to meet the
    requirements of Section&#160;404 of the Sarbanes-Oxley Act of
    2002.
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Tax Fees:</I>&#160;&#160;Fees for tax services, including tax
    compliance, tax advice and tax planning (including expatriate
    tax services), totaled approximately $130,485 in 2005 and
    approximately $194,000 in 2004.
</TD>
</TR>

<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>All Other Fees.</I>&#160;&#160;Fees for all other services
    not included above totaled $0 in 2005 and $0 in 2004,
    principally including support and advisory services related to
    the Company&#146;s real estate and risk management advisory
    services.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Committee has considered whether the independent
    auditors&#146; provision of non-audit services to the Company is
    compatible with the auditors&#146; independence and determined
    that it is compatible. One hundred percent of the services
    provided by Ernst&#160;&#38; Young, LLP were approved by the
    Audit Committee pursuant to its Policy on Pre-Approval of Audit
    and Permissible Non-Audit Services.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Policy on
    Audit Committee Pre-Approval of Audit and Permissible Non-Audit
    Services</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In accordance with the Audit Committee&#146;s charter, the Audit
    Committee has established a policy to pre-approve audit and
    permissible non-audit services provided by the independent
    auditor as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Any and all services to be provided by TeleTech&#146;s external
    audit firm must be approved by the Audit Committee of
    TeleTech&#146;s Board of Directors. Any director, officer or
    employee of the company proposing to engage the services of
    TeleTech&#146;s external audit firm for any reason (regardless
    of scope of the project or associated costs) must submit a
    request for approval, in writing, to TeleTech&#146;s Corporate
    Controller. The Corporate Controller will review the request
    and, if necessary, obtain additional information from the
    requestor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If the proposed services fall into one of the specified
    prohibited services categories as set forth in the
    Sarbanes-Oxley Act of 2002, the Corporate Controller will deny
    the request.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Both the Corporate Controller and the Assistant General Counsel
    should review requests that are not clearly determined to fall
    into the prohibited services category. Requests that are
    approved by the Corporate Controller and Assistant General
    Counsel will then be forwarded to the Corporate Chief Financial
    Officer for further review.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Requests that are approved by the Corporate Chief Financial
    Officer will be forwarded to the Audit Committee Chairperson
    (projects with a total expected cost of less than or equal to
    $100,000) or to the Audit Committee (projects with a total
    expected cost of more than $100,000) by the Assistant General
    Counsel. The Chairperson reports all pre-approvals to the full
    Audit Committee at each regularly scheduled meeting and all such
    pre-approvals are ratified by the full Audit Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Corporate Controller will be responsible for tracking the
    status of all requests and for reporting the final disposition
    to the requestor and to the Assistant General Counsel. The
    Assistant General Counsel will be responsible for maintaining
    documentation supporting the disposition of all requests. No
    contracts or engagement letters may be signed and no work may
    commence until the requisite written approval has been received.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    16
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The graph below compares the cumulative total stockholder return
    on the Company&#146;s common stock from close of market on
    December&#160;31, 2000 through 2005 with the cumulative total
    return of the Nasdaq National Stock Market (U.S.) Index; the
    Russell 2000 Index; and a customized peer group (the &#147;Peer
    Group&#148;). The performance graph shows the return of $100
    invested in the Company&#146;s common stock, the Nasdaq National
    Stock Market (U.S.) Index, the Russell 2000 Index, and the Peer
    Group at closing prices on December&#160;31, 2000. The Peer
    Group is composed of APAC Customer Services, Convergys
    Corporation, SITEL Corporation, Sykes Enterprises Incorporated,
    West Corporation and Electronic Data Systems. Stock price
    performance shown on the graph below is not necessarily
    indicative of future price performance.
</DIV>


<!-- link1 "PERFORMANCE GRAPH" -->
<DIV align="left"><A NAME="007"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PERFORMANCE
    GRAPH<BR>
    <BR>
    COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*<BR>
    AMONG TELETECH HOLDINGS, INC.,<BR>
    THE NASDAQ NATIONAL STOCK MARKET (U.S.) INDEX,<BR>
    THE RUSSELL 2000 INDEX AND A PEER GROUP</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="d34895d3489507.gif" alt="(PERFORMANCE GRAPH)" >
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    $100 invested on 12/31/00 in stock or index or index-including
    reinvestment of dividends. Fiscal year ending December&#160;31.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    17
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->


<!-- link1 "PROPOSAL 2:  RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS" -->
<DIV align="left"><A NAME="008"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PROPOSAL&#160;2:<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">RATIFICATION
    OF APPOINTMENT OF INDEPENDENT AUDITORS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In accordance with its charter, the Audit Committee has selected
    the accounting firm of Ernst&#160;&#38; Young, LLP, independent
    public accountants, to serve as the Company&#146;s auditors for
    the year 2006 and recommends to the stockholders that they
    ratify that appointment. Ernst&#160;&#38; Young, LLP has acted
    as the Company&#146;s independent auditors for the fiscal years
    ended December&#160;31, 2005, December&#160;31, 2004,
    December&#160;31, 2003 and December&#160;31, 2002.
    Representatives of Ernst&#160;&#38; Young, LLP are expected to
    be present at the stockholders meeting and will have an
    opportunity to make a statement if they desire and are expected
    to be available to respond to appropriate questions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Recommendation
    of the Board of Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">&#160;&#160;</FONT></I></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    Board of Directors and the Audit Committee recommends that you
    vote &#147;FOR&#148; Proposal&#160;2.</FONT></I></B>
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    18
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->


<!-- link1 "GENERAL INFORMATION" -->
<DIV align="left"><A NAME="009"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">GENERAL
    INFORMATION</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Next
    Annual Meeting of Stockholders</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Notice of any stockholder proposal that is intended to be
    included in the Company&#146;s proxy statement and form of proxy
    for its next Annual Meeting of stockholders must be received by
    the Corporate Secretary of the Company no later than
    December&#160;15, 2006. Such notice must be in writing and must
    comply with the other provisions of
    <FONT style="white-space: nowrap">Rule&#160;14a-8</FONT>
    under the Exchange Act. In addition, the persons named in the
    proxy for the next Annual Meeting will have discretionary
    authority to vote with respect to any matter that is brought by
    any stockholder during the meeting, not described in the proxy
    statement for such meeting, unless the Company received written
    notice, on or before February&#160;&#160;28, 2007, that such
    matters would be raised at the meeting. Any notices regarding
    stockholder proposals must be received by the Company at its
    principal executive offices at 9197&#160;S.&#160;Peoria Street,
    Englewood, Colorado 80112, Attention: Corporate Secretary.
</DIV>


<!-- link1 "IMPORTANT NOTICE REGARDING DELIVERY OF STOCKHOLDER DOCUMENTS" -->
<DIV align="left"><A NAME="010"></A></DIV>


<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    IMPORTANT NOTICE REGARDING DELIVERY OF STOCKHOLDER DOCUMENTS
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In accordance with a notice sent to certain street name
    stockholders of common stock who share a single address, only
    one copy of this proxy statement and the Company&#146;s 2005
    Annual Report is being sent to that address unless we received
    contrary instructions from any stockholder at that address. This
    practice, known as &#147;householding,&#148; is designed to
    reduce our printing and postage costs. However, if any
    stockholder residing at such an address wishes to receive a
    separate copy of this proxy statement or the Company&#146;s 2005
    Annual Report, he or she may contact the company at TeleTech
    Holdings, Inc., 9197&#160;S. Peoria Street, Englewood, Colorado
    80112, Attention: Corporate Secretary, or by calling
    303-397-8100. Any such stockholder may also contact the
    Corporate Secretary using the above contact information if he or
    she would like to receive separate proxy statements and annual
    reports in the future. If you are receiving multiple copies of
    the Company&#146;s annual report and proxy statement, you may
    request householding in the future by contacting the Corporate
    Secretary.
</DIV>


<!-- link1 "OTHER BUSINESS" -->
<DIV align="left"><A NAME="011"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">OTHER
    BUSINESS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    We know of no other matter to be acted upon at the Annual
    Meeting. However, if any other matters are properly brought
    before the Annual Meeting, the persons named in the accompanying
    proxy card as proxies for the holders of TeleTech&#146;s common
    stock will vote thereon in accordance with their best judgment.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    19
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN LOGICAL PAGE -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Annual
    Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Company&#146;s 2005 Annual Report is being mailed to the
    stockholders together with this proxy statement; however, the
    report is not part of the proxy solicitation materials. Copies
    of the Company&#146;s Annual Report on
    <FONT style="white-space: nowrap">Form&#160;10-K</FONT>
    for the year ended December&#160;31, 2005 may be obtained
    without charge upon request made to TeleTech Holdings, Inc.,
    9197&#160;S.&#160;Peoria Street, Englewood, Colorado 80112,
    Attention: Investor Relations.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="font-variant: SMALL-CAPS">By Order of the Board of
    Directors,
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="d34895d3489502.gif" alt="-s- Christy T. O'Connor" ><FONT style="font-variant: SMALL-CAPS">
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="font-variant: SMALL-CAPS">Christy T.
    O&#146;Connor<BR>
    </FONT><I>Vice President, Assistant General Counsel and
    Secretary</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Englewood, Colorado
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    20
</DIV><!-- END LOGICAL PAGE -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="9%" nowrap>&nbsp; &nbsp; &nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 8pt" valign="bottom">

<TD valign="top"><DIV style="margin-left:25px; text-indent:-0px"><B><I><IMG src="d34895d3489508.gif" alt="(TELETECH LOGO)"><BR>
9197 SOUTH PEORIA STREET<BR>ENGLEWOOD, CO 80112
</I></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV align="justify"><B>
VOTE BY INTERNET - <U>www.proxyvote.com</U></B><BR>
Use the Internet to transmit your voting instructions and for electronic
delivery of information up until 12:00 A.M. Eastern Time the day
before the cut-off date or meeting date. Have your proxy card in hand
when you access the web site and follow the instructions to obtain your
records and to create an electronic voting instruction form.<BR><BR>
<B>ELECTRONIC DELIVERY OF FUTURE SHAREHOLDER COMMUNICATIONS</B><BR>
If you would like to reduce the costs incurred by TeleTech Holdings,
Inc. in mailing proxy materials, you can consent to receiving all future
proxy statements, proxy cards and annual reports electronically via e-mail
or the Internet. To sign up for electronic delivery, please follow the
instructions above to vote using the Internet and, when prompted,
indicate that you agree to receive or access shareholder communications
electronically in future years.<BR><BR>
<B>VOTE BY PHONE - 1-800-690-6903</B><BR>
Use any touch-tone telephone to transmit your voting instructions up
until 12:00 A.M. Eastern Time the day before the cut-off date or
meeting date. Have your proxy card in hand when you call and then
follow the instructions.<BR><BR>
<B>VOTE BY MAIL</B><BR>
Mark, sign and date your proxy card and return it in the postage-paid
envelope we have provided or return it to TeleTech Holdings, Inc., c/o
ADP, 51 Mercedes Way, Edgewood, NY 11717.<BR><BR>
<B>PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE
ENCLOSED ENVELOPE.</B>
</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 7pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 80pt">
    <TD width="58%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">TELTH1
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">KEEP THIS PORTION FOR YOUR RECORDS</TD>
</TR>
<TR valign="bottom">
    <TD style="border-top: 1px dashed #000000" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD style="border-top: 1px dashed #000000">&nbsp;</TD>
    <TD style="border-top: 1px dashed #000000" align="center" valign="top">&nbsp;
</TD>
    <TD style="border-top: 1px dashed #000000">&nbsp;</TD>
    <TD style="border-top: 1px dashed #000000" align="right" valign="top">DETACH AND RETURN THIS PORTION ONLY</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 8pt"><B>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</B></DIV>


<DIV style="width: 100%; border: 2px solid black; padding: 6px; margin-top: 6px">



<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 1pt">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%" nowrap>&nbsp; &nbsp; &nbsp; &nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%" nowrap>&nbsp; &nbsp; &nbsp; &nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%" nowrap>&nbsp; &nbsp; &nbsp; &nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>TELETECH HOLDINGS, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD style="Border-top: 2pt solid black; border-right: 2pt solid black" align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>The Board of Directors recommends a vote
FOR all Board of Directors nominees and FOR
Proposal 2.
</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="Border-top: 0pt solid black; border-right: 2pt solid black" align="right" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
<TD colspan="3" valign="top" align="left"><DIV style="margin-left:15px"><B>&nbsp;</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>

    <TD style="Border-top: 0pt solid black; border-right: 2pt solid black" align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

    <TD align="left" valign="top" nowrap><DIV style="margin-left:15px">1.</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Election of Directors:<BR><BR>

<B>NOMINEES:</B> 01) KENNETH D. TUCHMAN, 02) JAMES E. BARLETT,
03) WILLIAM A. LINNENBRINGER, 04) RUTH C. LIPPER,
05) SHRIKANT MEHTA, 06) SHIRLEY YOUNG.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>For<BR>
All</B><BR><BR><FONT face="wingdings">&#168;</FONT>

</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Withhold<BR>
All</B><BR><BR><FONT face="wingdings">&#168;</FONT>

</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B>For All<BR>
Except</B><BR><BR><FONT face="wingdings">&#168;</FONT>

</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><DIV align="justify" style="font-size: 7pt">
To withhold authority to vote for any individual
nominee(s), mark <B>&#147;FOR ALL EXCEPT&#148;</B> and write
the nominee&#146;s name on the line below.

<BR>
<BR>
</DIV>
</TD>
    <TD>&nbsp;</TD>

</TR>
<TR valign="bottom" style="font-size: 1pt"><!-- Blank Space -->

    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
   <TD>&nbsp;</TD>

<TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 8pt">

    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="67%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

    <TD colspan="3" valign="top" align="left"><DIV style="margin-left:15px"><B>Vote on Proposals</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>For</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Against</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Abstain</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

    <TD align="left" valign="top" nowrap><DIV style="margin-left:15px">2.</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ratification of the appointment of Ernst &amp; Young LLP as the Company&#146;s independent auditor.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="wingdings">&#168;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="wingdings">&#168;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="wingdings">&#168;</FONT></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">

<TD align="left" valign="top" colspan="4"><DIV style="margin-left: 3%"><B>
This proxy when properly executed will be voted in the manner directed herein. If no direction is made, the proxy
will be voted &#147;FOR&#148; all of the Board of Directors nominees and &#147;FOR&#148; Proposal 2.
</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">

<TD align="left" valign="top" colspan="4"><DIV align="justify"><DIV style="margin-left: 9%; text-indent: -9%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Note:</B> Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign.
When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a
corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership,
please sign in partnership name by authorized person.</DIV></DIV>
</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 10pt">

    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="52%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->

<TR style="font-size: 8pt" valign="bottom">
<TD colspan="6" valign="top" align="left"><DIV style="margin-left:15px">
For address changes and/or comments, please check this box and write them on the back where indicated.
</DIV></TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD align="left" valign="bottom"><FONT face="wingdings">&#168;</FONT></TD>
</TR>


<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Yes</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>No</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 4pt" valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top" align="left" nowrap><DIV style="margin-left:15px">Please indicate if you plan to attend this meeting.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 4pt" valign="bottom"><!-- Blank Space -->

    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top" align="left"><DIV style="margin-left:15px">
<B><U>HOUSEHOLDING ELECTION</U></B> - Please indicate if you consent to receive certain future investor communications in a single package per household.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom"><FONT face="wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom"><FONT face="wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="98%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 10pt">

    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->

<TR style="font-size: 12pt" valign="bottom">

    <TD colspan="2" align="left" valign="top" style="border-top: 1px solid #000000; border-left: 1px solid #000000; border-bottom: 1px solid #000000; border-right: 1px solid #000000">&nbsp;
</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000; border-left: 0px solid #000000; border-bottom: 1px solid #000000; border-right: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
<TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top" style="border-top: 1px solid #000000; border-left: 1px solid #000000; border-bottom: 1px solid #000000; border-right: 1px solid #000000">&nbsp;
</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000; border-left: 0px solid #000000; border-bottom: 1px solid #000000; border-right: 1px solid #000000">&nbsp;
</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>

</TR>
<TR valign="bottom">

<TD colspan="2" align="left" valign="top" style="border-top: 0px solid #000000; border-left: 0px solid #000000; border-bottom: 0px solid #000000; border-right: 0px solid #000000" nowrap>Signature
&#091;PLEASE SIGN WITHIN BOX&#093;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</TD>

<TD align="left" valign="top" style="border-top: 0px solid #000000; border-left: 0px solid #000000; border-bottom: 0px solid #000000; border-right: 0px solid #000000">Date
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD colspan="2" align="left" valign="top" style="border-top: 0px solid #000000; border-left: 0px solid #000000; border-bottom: 0px solid #000000; border-right: 0px solid #000000">Signature (Joint Owners)
</TD>

<TD align="left" valign="top" style="border-top: 0px solid #000000; border-left: 0px solid #000000; border-bottom: 0px solid #000000; border-right: 0px solid #000000">Date</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>


<P align="center" style="font-size: 10pt">
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">





<DIV align="center" style="font-size: 16pt; margin-top: 18pt"><B>
ADMISSION TICKET</B></DIV>
<DIV align="center" style="font-size: 14pt; margin-top: 10pt">ANNUAL MEETING OF STOCKHOLDERS OF</DIV>
<DIV align="center" style="font-size: 18pt; margin-top: 8pt"><B>TELETECH HOLDINGS, INC.</B></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>May 25, 2006<BR>
10:00 a.m. MDT</B></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TeleTech&#146;s Headquarters<BR>
9197 South Peoria Street<BR>
Englewood, CO 80112<BR>
1-800-TELETECH</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Please date, sign and mail
your proxy card in the
enclosed envelope as soon as possible.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><FONT face="Wingdings">&#234;</FONT> Please detach and mail in the envelope provided. <FONT face="Wingdings">&#234;</FONT>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="border-bottom: 1px dashed #000000; font-size: 1px">&nbsp;</DIV>
</DIV>

<P>
<DIV style="width: 100%; border: 2px solid black; padding: 11px;">

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;<B>PROXY</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>&nbsp;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>PROXY</B>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>This Proxy is Solicited on Behalf of The Board of Directors of</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 14pt" valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>TELETECH HOLDINGS, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="justify" style="font-size: 8pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned, having received
Notice of Annual Meeting and Proxy Statement, hereby appoints<B> KENNETH D. TUCHMAN and
CHRISTY T. O&#146;CONNOR,</B> and each of them, proxies with full power of substitution, for and in the name of the undersigned, to vote all
shares of Common Stock of <B>TELETECH HOLDINGS, INC.</B> owned of record by the undersigned at the 2006 Annual Meeting of
Stockholders to be held at TeleTech&#146;s headquarters located at 9197 South Peoria Street, Englewood, CO 80112 on May 25, 2006 at
10:00 a.m. local time, and any adjournments or postponements thereof, in accordance with the directions marked on the reverse
side hereof. The proxies, or each of them, in their or his or her sole discretion, are authorized to vote for the election of a person
nominated to the Board of Directors if any nominee named herein becomes unable to serve or if for any reason whatsoever, another
nominee is required, and the proxies, or each of them, in their or his or her sole discretion are further authorized to vote on other
matters which may properly come before the 2006 Annual Meeting and any adjournments or postponements thereof.</DIV>

<DIV align="justify" style="font-size: 8pt; margin-top: 6pt"><B>You are encouraged to specify your choices by marking the appropriate boxes (SEE REVERSE SIDE), but you need not mark any
boxes if you wish to vote in accordance with the Board of Directors&#146; recommendations. The proxies cannot vote these shares
unless you sign and return this card.</B></DIV>

<P>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px"><B>Address Changes/Comments:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><DIV style="border-bottom: 1px solid #000000">&nbsp;</DIV></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left" style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 8pt; margin-top: 1pt">(If you
noted Address Changes/Comments above, please mark corresponding box on the reverse side.)
</DIV>


<DIV align="center" style="font-size: 8pt; margin-top: 10pt"><B>(Continued and to be signed on the reverse side)</B>
</DIV>

</DIV>




<P align="center" style="font-size: 10pt">
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>d34895d3489502.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d34895d3489502.gif
M1TE&.#EA=@`P`*(``/___\S,S)F9F69F9C,S,P```````````"'Y!```````
M+`````!V`#````/_"+K<_C#*2:N]..O-N_]@*(YD:9Y4H*K*Z@9H'*N$$`R#
M#0-O(.2"H$Y&S/B"NXV`4&C6<(*BU.&K?9:$9+8EM$UGN*2'8&5L&\'R5Z2*
MAI8#L>+\.'K7'.2(+%\,*CYA>!=')`-T#0$$@']'?8-H?X:(:(L42PN*;I`.
M.25+CPMJ$8J67)Z<+90@H!("!:$,39L,K9"*)HJQ/`6F$62KJKY3/B>C#TP4
M?,,.F%\_QK1U!9(1<0`$U:3!N;`FSA(#WM9N!=(\5<!,NR*H)#<5V>%NX#1,
MV3DKO>P?NB4W_/1`<$?F$)`A#FJ<(Q'D&S,JVA+"".+DCH0M#5%89,.M_U8L
M)DV`%+`08-RU$R<Y+DQT+LV^6BL3FL)EK(0\"M?:W#O49]R$0PT>AA#*P5^=
M%J74Z7PT,H4Y-#I8M.-W(:5,=7&2+%E(4X(B<P=_],J1#8Y4)50!-87P@@JW
MC(ENX&BRHL$X%CJA:#!Z)>:$KLBR!(%"BV_0OZ_\/H#KP2<&,G4&FSO;[*WB
M%H[_'MN[%@-0!6EJ%"NI.19CKQW=;LQP^N^-R4CZ@(-@:_'E!;,KU,ZP.6Z@
M6921*>Z-^[8HXYG((%_P-.Z/YRH$Q=MEN-GRW(`4A4F;K0T0%YF@D<Q<:0)Q
MMJDG""G8I<LA+#Z"XW:GFRAH^P":7TB?O7T7=&RME<>;8@'*DI8H!_;363,1
M69#>:HDL.-T7P;RW077-[/**!OR-H,D.I228"'X`B`<!>:6M<0,^'89#(G;S
M:0!C*AN<E]Q"NSFX'(T1H-B,?B7R).../+)U`1:A$5DDC0@MZ>234$8IY90=
$)```.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>d34895d3489507.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d34895d3489507.gif
M1TE&.#EAM@&L`<0``("`@$!`0,#`P+^_OW]_?_#P\*"@H-#0T.#@X!`0$#\_
M/W!P<#`P,"`@(&!@8%!04)"0D+"PL._O[\_/S]_?WP\/#R\O+Q\?'Y^?GU]?
M7X^/CT]/3Z^OKV]O;P```/___R'Y!```````+`````"V`:P!``7_X">.9&F>
M:*JN;.N^<"S/=&W?>*[O?.__P*!P2"P:C\BDL/`0`0*+SR'@*"BOV*QVR^UZ
M5P6&1]H0E!N&!^#+;KO?\/CV`!@#U)%"XR,(R/^`@8*#A'8)`(=^?20!'HZ/
MD)&2DY25EI>8F9J;G)V>GZ"AHJ.DI::GHWXS=FL+#GN+(P<"#@P"M[BYNKN\
MO;Z_P,'"P\3%QL?(R<K+S,W.S]#(#JHR8P8,"`P1"0<.425/A.+CY.7DX3.J
M"U`?!@$/5N#4YO3U]O='Z$/Z^/W^_P!=\`LR,*#!@PCI%?RQ,*'#AQ#9-.PQ
M,:+%BQB%5-RQ,:/'CR!A=,PQ,J3)DR9+_]Y0B;*ERX<L:\1\2;,FOIDS<-K<
MR7.0SA@_>PH=*G$>0:-$DRK]$_1%TZ50HP)YVH*JU*M892)EN#6KUZ\^K*X0
M"[8L.00&#"!P0S9%6[-P`=5Y].W+VQ-WX^IM$T&2@:)%\NX=S$5,I#UVNU)4
M3+@Q.4J`B0AV3)G(V@^0$P=F7+ESF[DB&DA"[&7R"-.>4\<H\.3`"`,._GZ`
M(&F-9LF<5>L&4N`R'P\-7*-P`,G!Y]PDD>]>GD.T<1$%XJF@`T``6^4KL3/?
MSB+"-!)JA-]#_8$\][@'I-?1/HZ\^?-@#SB2_4'Z0??LX6,M`"%```CVH7!'
M70@X`(%O,.67D_^"^D$5!B0,!%B`>!\$T$!='N'7H&/$1?*<$X[0I.&&A"4P
MB74B"+!`!"(R")2+)`Y%"8L]Z02!+'\A`,"-)KP7(T:9U9A?`<2-P(`?#$"0
M9(\P_KA3`29&TB1$,]$R1GE'0LD'4CXZ"9$`)PZETQ@()!!!`(O$(D(C'B3@
MGW^RO.F?<%/(*9Z<`=PI)WWKO,FGG'7UZ5]=[LCY&IYQ&BI"G6_JV>@(>-(7
MZ0B"LB-"I80">JBB[2"Z*)YT@@KIGJ/Z22FIEVJ:ZIN9<EKHFXD^*H6H4D3I
M"(\5HIJKJ:L.>BJKF\(JPJMP?LHIHW,:*^NN_DFJ*Z;E,3C&`U2@P<#_EB3,
M\@H`W-KV@8[=`G`9N-WZ%JZXIX6+8COJOA8N?0:\.X(`Y\Y;KPCD<CM"ON@Z
M$:ZY[?K;[;KQ=@NOO"DBS,>]"X>[[[GC0ISNP!-S2W#`[!KLKL8).]QQMP__
MBV^W"_1;GL@"6UQQ=1MS>S#'#8/\L;XC>_RMQ#>C?#+%*;,\K+QCLON*``FP
M]N%I4WIIT@$->'M5T"GZ01LW3"J=50()T/=TTBQT:?4_`E"X]69?EXW0B&8+
MU4U<:*>]TS8-(/A5VV[7=$"$;',]EMYU]YT%W7Z'!&!C@`>>40&-:*U7X89?
MI`>&>S'>N$4!1LZW6Y=/'LB$J4FN>4!WDU:9_^>?_^.`F9UGCI?JI;\1G6JD
MMTZ/W+"S+H_L`2%"NV>QXRY.7W@OU[OOA"BNV_#$)Q^6[21XK;P.8:Q['O+/
MLV$BKM,SCW3U[=&H'_7<AR\#^.(G@0#D&Y)?OA';)+`[?.JO3X0`#(B=OO9.
MX"^_[_'OWX,!E7-2__R7`R9X`'M*&R`!;P"E*IA-@0NT00"]!,$(JB`-#Y#-
M!+]FHT4!P#7\D=[V+.B#!SV"`0PXFMMP0AL^',)][V"`\9Q7O;E$PFDKS`_]
MK/&7!X#I`Q%HPNU(V`-;/2(!AIN)%:Y4*W=@ZU0-<%.S2C7%7@7@3\`:EJHZ
MY2I/S<I.RDK6FL`X1O]>,>N*O_*5%5LE+"ZV$5G4@&.HR'A&9YD16FL,EJ7<
M"*<@R3&,>:(B&LM8Q0]4"HMJ-.06B44-1L9*C'\D9"`E:<="XE&16>0C&XL%
MM0-D;0I/_)F%>+8SE?V,E`5SF;U@1B^;M5)F.2M7S639,X"1\EP7@UDJ`4"?
M5](L9K_D5\AHR2];FK*4/LN8*D^Y3&#VLEY!*N8LN67,9.*R9<G<Y<N:Z4MO
M=7.8U)RFR7"&S'5=DYF\Q.8S67FOH)5)-AXH0!JJ1D0>&`82HJM;T&P(@`5$
M4831JB</P!0)[_6-+`?8'0VKMPU'9*UQ%11H"6ZAN8A*%'<6)2&1-ABXC%K_
MD#@`G9Q'(]@T_NEOH;[C:!)/JK^+ZI.E+KWH2`,R#3P]X'T8@8`*,0I3H7C`
M`>?R0$@Q(A\A)F^F`!%J"92ZM.`=M:<]8>H(I!I3?R#U'T+MAFVH6M6;0/5)
MP&F3!];"U8O@U*3UP<546EH.*WG`AQ\X!&:&^A`HX5!YX2"H(X*SF)H@``*B
MD2%3_3G7CQ#'?D_]30``((9\X@"E;PABFQ9P&4K0U2$1,!Y>%>$!VS3BLN-C
MZQ_.)YH,EF`6N#@2:+MZ#L[:I@YWM0%DN^`.X)@L!08H&FO_D=?.@BBV6OE(
M-TSD`(."P0.:=4AR:^C:2R&7![-5@CP;.[@8U"*G_QXP;OAZNP8$B.:LH;6(
ME1+@`,2Z`$S@_0<"WNJ_WD("?=EYR%\#"T`<7.@B>6BO'QAEVKXB1+()H"Q'
M'+M;<UQU"Z1]ZW)KL%[M%KBU9/M';9N6WA<4X!:7>8=#!(#`_1TX"</]J8-M
MD%NZM".>"-'#M2+XX2+PA[HJG8%>'W&C!'38'V`R;_E:+(3QEC<(#Y`$$J^+
MD`HS-\+BT!%]8WP#2AQ`/CI^<"!X_`((G.N7(@"P@'&``(H>BHF6_4`#=BIE
MGS!(.!>.AP`4*EH6A/E\)NKO>7U3H$F6)T2'JLL](2$"""#Q'S(4*$[Z4A\W
M76L!#$@`0*,[U4FLP[9G;?\E"4SD33>)I\N7-<`DX%&`Y_:C#B/6[Z*HM5B.
M>M(:QK%%/.<Y1"]4HKA6]HVFF7AG6J?%R"KHD",6R]X'&/4>KI!H.$Y]0A5$
MAQ7EH58HV15%,T[*BHC<([$V20W+WLT11W)-&CQ`1UK549"(3$#3_K(`<5MH
MK%KLXK&\&,E(?IN2:=SC):>MQT:RFU;N?O:[,6G)+<[;BXX$Y!R7Y6U]Z_N2
M_\YDP,,1Y"@\:,&8.5FT%#&/=32@:<<\IS*SJ3!?KA.6EI5F+,-9RY69$V/:
MQ*9<@>E-A@E3G!'3F<8UGG)T?CR=,VNYS40N\G*:')NY;&;-6;Y*6/*<G$C'
M&,W_%39TCQ>=9N'`,Q#9JX(Q0"`*#R!T$.GIZC#]H=RA%@2NY1=U:H"),V0:
M<]'>T0#M,EH$E,#&:!T1]C]L8^P[]@-PYL7M%:#HKVN1)V+?CAE*/%0.#""P
MV-U4U7"(!D6PA6Z;5V#E*T=`-'7?0FZ9[+J;-MX/=0@P<=PG^<T%^<9>Z+1L
M[H;W,BL!'0LX8N9?Y).W(H#S22!R7W3K>CCHX\*K71`AB.:!^KD!O2DB<QL0
M$.5Z4GD'B&L3ZK5P7T&$0?'"_FKMWXK[P!!X1VZ(??`]T_U\:'\0Q"_#%QIL
M@B#_N@L%F+UG7O&&YY?0,--7@H9-`('\DW"]9<4%]O<#_[$'#UZ@:>5'1',Q
M>5US?N.P#<;7!3:V`@N0@!QA@80Q"[;2>OO@@..0#396@5M`9"BP7HIV!9KF
M?P[Q'46`:1'0+8,$=Y*@?'_C@>00>\#1?$,`9=.A?OK'@&P`@.-G;+=0,#7%
M")(0:*=18I"`@6N%+P+@A'OC#PUU0-1'@UOP.B"!@UCX,36U1_(A)?.0"Q=4
M&Y%1!T-(>_Z0#;LFA3;@9S!07Y0!)8_`+:06)>9T1)G$!V%S`WOF4&<8@,D!
M$$3B4&D(?9[6'<7'@4IQ`/TQ&OZA!K=E!$;T"#IH?B!RB$X!A$108G^F!+Y6
M9:0'!'?CAN7@B`]0B0YEB@F2B?]/:!!W@SI*T!>XQHHH<'VV.`AEXE`/<'5F
M*!3H@(:O:!"%&`6,6`,K%P.SP`-A<(GU0"\8THOB\8=M(B:J((Q<H5P)D'@&
M:`2$)0-!!EPO<6%/4&PIX&3`>(V"^%B<B`1,8XA&L%Z:F`WM*`A]L5>Q<8Q"
M`B*0H(DJ0'A+$&2.((X]D$(TD(O]X(CK<CX1H(]$@0[=Y)"M]A"T@6T2R0*;
M=P.,^`!=&`BH&"7UF"$V"(NBT2;^"`.J)T';B'<I2`],F`"]>))>,8#P)Y`7
MN0(D2`.1!P,'`%]R0"_K$D00X(R$09->0!O=&`3(9P/RYP8ZY7?EZ`@=>3PC
MF1">%!S_YQ,$U:<#-TD$=/@^.`@<L4&4J8-DA],(8A"!%(%],M"2*$"60S!K
MQA%_"R`>L*$65F.4GW%$$#<#[)<#"-`(B.5)!(D$)<EMC]"7,:*7;4!\CI"4
M.K!_.D`?[P@<XH:0-3!K#A4;F-D9C-D&T;=7<+D"".@#Q):87L`FJ[A29ID2
M8<66,S"!/2"0^-0%,W8KK-DIHRD0(<D7XJ:"UK5B/$`)G0F.HY&;V(B2U/(7
M[K!3`-D%(&@\!]"4I^4!NUEU7H<%"15F?A.,ZY@"$/``\M%I`M"+$^D2L5<%
MEA(`O"<#8U9$DZ`%GB2>O("<WXD"U[`-BP`;LD`+O0D'$$A?_XZP`%X&`W`(
M73.8!9Y$-;+CG9H(@=I`<9`2GRD2"2ARF^MBH8U6AQ/*H6L""=2@FGW'CX]P
M&I'`=WQ6H?WX+=1("=YR0QVZ:S$ZHK4FHR1Z"2CZ"!>JH3+HH87GHR+J+2(:
MHB!JHBE:HU*'H2JJHQOJ"!D*"2\*I3-*I(]`#38D=5?*1+>9HTZZI%W:HP/9
MI+[UH54:4'>FB:;%`.'`G\UC"VH%';H0#\"'"](1I_.2"[Z!6AC6G[@@'GK:
MAU!(AH'ZIFDEJ(5*IY1""1"`IW>*"WD:`&[JI[EP:9.Z+[K0'XNE"R,PI[<@
MIW::(HP*JHZ:J&Z:IY6Z**?Z+9HZJ/\%RJE1"*>Y4*>QVJA[*JJU*@6I^J>4
M:JB81JBNNJF?ZJJR.JJVNF9\>@NNX:`RL`#B609")6?Y(R/9^0*T*&'%5YSP
MHXY'(D8LP`2+U2G.^9]_P)TQD(SWL%Y3:9\KRA'B*@?D"@/?V`\R^4!5B1*6
MI84O((^]MP6?.0B692%P:9#UH)BETZ^"8%FY=7@ND)'F0!S4"5'U>A)?Z!]B
M8!WOZ$`MD)+D4(QYUYI)82%68$!JB9/"20@/MSX&6PY08E13$WQ+.0@GB[(1
M:Q-@@BN>Y(Q;&0@@^+"?D[+F0!O^"`"PV0;E=ITB-;,[D8J5@Z\G\)=B1T#\
M@&7LFA5Z@!3_IQ-EDKFO2*`/]\BS#>@5\H%##35]I1D'RVA!^M`AZ2H2[?JS
M7'5M&&L"LOD&GM2VNZ$/6",:F/F<Y:"T)2"RNY.3;*!I3K5`Z-`7WI"(.L"W
M&]L`6S$U]L.#;4"XV/I2(D`<.T*CBVNWYA"V)T`T#O:>@WNMSN<'G18)76FF
M8`&T38L"!WJ`W%:Y!^4'FK98Y0B<FP@7?JL"OJ&Q7-!`,N4'048C\C&T;`L7
M*J8"?K8NH>@%J5NPH.<T4AM?<.%)/NE"8UJM6NNQV1@7FA9J;&B`YIH$&\4<
MJOB)7>"S`'$Z9T4<]1.OY%NQS!$DZ8NT2Q$&)7L"FG8(]_D#,;L<__0K@/:[
M%-:[`DP3`0)[!/\+P!1:&@.\%-_;`@S;@HEFM&81P/SZP$O!OMV*7,_[EEAC
MP64!@)(0&1W8&/C;`J-'L++%H,S1#95@PAK!N?]0P'XG5M>[`Q^\%&=2?)IY
MHK=QPHX1P2LP9HT0`+([!*I(:R#!'Z6%(N<+&#.&!O[%(2XL('L0>WRU`]-I
M!!B,$7!&7CM\%+_AN&R2NHQ+B"C$4>R7L"Q,FIHK!%\<$5;2-$F<C6!B&R!5
M>I51)EW8O$R3PR]`N5[<P!=16S'8'ISE``)08D29!BS2#1V6Q@'1%PM6MDQ+
M`X1<R"5,.4+[4_-:O[_Q7B]`/[E5)@BL./^4'!!%JP)S2P(66`=Q6P1Q-Y0.
M42!8LV7UT%M`U2:X5C(`$`%GT@Z0L\H!L<8I(+A-9%T_I024\`K`L2(!49[`
M(8?CT5Q!AAWL66Y.I"8B6J)>RE1*"J92!:-D&J;G3*-#:J3@C*1:"L2CS*3D
M_*0^:LX5`B%3"F57>G$>4#+PG*4?D$+C/,X_BLX%/:;WC`G[A0A%>J-,!-#A
MO*/K>M#T;-#V/*0&<)AEZM#LG*3P/-`\>M!1"J1%REV%UK]KL@:+Y0=;AZJU
M8*C""JN(6JS#>JM_:JI]>JR`JJJ\NJJ'VJJ?RH<S+=2WJ@LXS6&>IJL![0"]
M&C;1UW8]388A&ZS_06W4M&JLJ$HOQ;?$DKIMW'8@3;V0/AW3/_VJ-'W5OF'5
M6=W#/_5DJ1K6E@K38TW5LUJL:1VJN)K3PS9(S>D"X:D'VT`D"&3,!M'*)_"Z
M)1![5UP:W!<#WB$:%Q+*1P##AW#'6M`4T1<%=5"XJJL:R&P"OEL"#:59Y8L$
MT8>[;XEH;<*9`-H(5.P0Z@O&Y(4"S7L"=U,7X?`@7EL#1+/%7!:>NW8@J9?1
MW";99L:]G6'))Z"])Z"%=(C`BBL9C=T#\7<ZT6S<-*`C6,/4%Q';&1%[B%52
M70,);\Q`C8#:-="38D!>^64$=0P`EGT=R.T9(&L"\)L"AUG>-M#;(AP#_W\E
MD+TXQEKDPR#AW8<#DR:@KV7X"&M[`T@9WZ#M'2;"`'7)C(`%RBFAP7%1LR:0
MP"B@T>@6D%9HF_ZTVNV=W:<38`(N#@:>(=99`A-L`K>)T#_`-">X?(_X5L)=
M`GC21M3<`-6%$BWN$?6]J0IK`M_<)MA*&T@L!_)DW10N'I!Q#=RFWZU8'_T!
MK9NK'RM;`LHLIO+,C.$X?"4^9O<X&FV]$^BP9X497OK!X7RWXBQ@X]BM!'^5
MY'4HY_80#NL5(<5;Q?#SXB.0LTG`Y!`>!*?;R5M0>>&"WKA1'Y-%J%N^(45>
M'L9;0F..#W.<!,4G)V(0&6'9=H`.'UV.+]D%8O^)5N==L.E(0%4_%,0J(AKH
M.X@DXKDB4-M%D%N<;0^L?@2NSL09W`Y+$M""/NDDPKHG9MD<FU2&G`7(12\L
M\NH.+`5MDA8F,NH-LKNO3(J)MMM)T656!JF/4%+2+LH?H&O]C.U<[KB7F[\^
MH.MZ[CB-?`>JZ2;^K#7E+L"RL"/]S74QXKF26T+$(<@O\*>2GA`"\(+3$"5N
M`E01($*_+L-D["6LZ^%<W.T[T.N="XWGMFMJ8`!F?8[;2K'`?MD:[AE*B]B3
MN9+#*3WYC@4:3P+@_@2'>20[@M4&>F6.+L0\[R15&]HXD)X^$/%<<$"YT$*W
M..\/<$^.6S([?38G[QG_8:ML@)EH5NYFUH%I0%O7G.[R6JKP]4X%P=SO$/;H
M7T,;L2>1$$CV)M#/>*X)4M3C;W)EYP+RO3#BVL)MMO(.O*3JNQSUJ9&*X[NL
M/U6<YR.5.SI1O[!+5U8I<K_$E"`:-W_H+`[XY-=8#&;U/S!A1+\%V;6G+U\3
M0VX3I^:/:]\#VOU6+/)3X5(D1>_UUCC?/Z)I#>Y<LXP#DD5A(T!J<O)^,+^H
MN(#T^VCV:4,<M:CY7/G)63<(49R.LO\C4.+N*,#?.J!E\9X]S_\C`S_>D'F0
M%Y[(W#/Z/$%0H7;:.#!>NMRQQ.\VLKX[U%\#3ESEAILTRZ@C;D?#P+A7/5Z`
M_TX(`H?C)<[QH:FZLJW[PK$\T[5]XSD*!+I:-`"?QB(A6/%\RB6SZ5PB/-(I
M%:(K&!@>AJ'P_(+#XO$MN00D``+&![)`]LCR.=WYH%(C.5&B=*H#!@H.?ICY
M'!"I]0C$?03@2:4(X!U]3%)5?E"FX`FA/$YY.E(U@DHU`N"EI%))JJ)<3F5N
MHG1R4HF:>I22KO;N0`9[N&+"XC5T:>+>AJ;HYOZ.3J&^%E;'2E5B>\P6URY_
M-W]&ZU*W`I];7M-N=XLKOY<7-NHP/`0$&"P^I!P(.#`0(#!3@8$"O7PH:!"A
MI862#"+H!U'BP#\?_%5,@<!@IHT&4R@<")(C0Y(/!_]&A#41!4:!%EL*L.C1
MI<:!PB`('.GPHA8/#B*47-D0)46!*2\:?)FTYD<4,W.B"'DPJDF5`X,2M6JT
M:$RN,CDR%4FU:<*J4@5@W:I5P%&8)PSI`,`C@(`&'Q:(VD&/$-^^9(1E>J'/
M0P,(#/TB3JRX!EP?<C\\8)#@J-[%EB_;`/P"01&?@3&##MVW,1.+*DB+3KU8
M,XO!00ZKCBU;#.HPM6?CKB/,-`(`#3P\T)-[.'$EM[\<+ZZ\R6X4$>X$H;Q\
M.G46R9U<KZY]!K=[G`SX!BY\._GJV9F<+Z^>DX`('B)>2K!`^OKZN-,;WVM_
MOPIN0Q[\YD%>_!&H&GZ.Z5?_H'W^H3&??PI"&-J!<24887D/LF>AAHM-F$.'
M&\J&82V?@5@B(!^64:&)R_DDEXLBKA@C&2C:0*.,EMV#CXX!T'>CCTW82$.0
M/Q)9Y'Y#RH"DD4LR.9V2,#S9I)13&J@B<E92F:66RD7I0I=;@AEF'5]:AZ68
M9Z*9&)EPI-FFFQR:"62<;])9YQ-KGC:GG7ORF>*8>O89J*`MX+D*H(,B*FBA
ME27:J*-E_OFHI(\N.L^DER):::68<JJAIH=V&FJ3GXI::INDFIIJF*BJVBJ5
MK+H:ZY*PREJKCT%NY$5!]&UJJZ^QV1A!`@\D4$``DDG7ZZ_+@F:C`08X`H%=
MC^7)_ZRU&PYY0`(1+-+(`@$$.`4QLACC#3S9,",%-/&0$PTKXJ(#KSKIM),N
MAK:$HZXS[4[C2[_Q1@+P,.62.V_!YPIH[[KZCO.O-*?X*^^[`1N,;L7WFHLO
MP@OOLJ_#$P]L#;WK>%-OO@F?S'$/06IK`".6-`+>L62=A5#-)TVU5EM"N>55
M6%!]\!1!8(UU%<YH'7T41SMGQ-)23CT=--%2TVQ654.IA35;7#%-D]--4RU6
MV$#?7-9.6J>UM<X^?^WUV!U-?99.1IM-M]9*\[R4C2WS5,B`REX;^&B@KD`L
M/@?88P2;@C-^).$JM%3`KI`V7KEZM%J>^7*8:]YY;IQ['O]ZE9&*7KILH)N>
MNF*HJ]XZ7ZR['ON)C_LIN^VOTUYC[K?SC@/LO0,O)^G!$V_;[D(>7[SRU=(!
M^/*F__Z\]%`FGV3UTP<?/?;;&SH\]]^_H#WXTXL__O/EFZ\\^ND3OS[[P+O_
M/N_QRV\[_?7'?C_^K>N_?^K]^Z]T``Q@Z`9(P,X9\("92^`3$&":RSA0-!$,
MS01!4T',7/`R46)``QAP&.?-`(36$XT(8U!"ZI'P>E?ZPAH@`ZWN24B%=Y(A
M=F@HO!BF,(=/<(/?4""S(+@HB$(<(A&+:,0CR@5<2%PB$YLH1"4Z,8I2'"(4
MIVC%*%;QBEI$8A:WZ$4J`O&+8@S_(CZ0(P1J?6M':EPC&]OHQC?",8YRG",=
MZVC'.^(QCWK<(Q_[Z,<_`C*0;WB"`/B!%P4BT@8%2,-D$NG(&1Q`#8^<)"4K
M:<E+8C*3FMPD)SOIR4^",I2B'"5VA&"`/D`+`E;X@`$(X\`&)."%<SCD*6-9
MB!="8`NZ2L")3(G*%'@P%1YDY2]GZ4M;`@"7NB1F`QXH!@<<4P\`$(XP$1*0
M.D#3&MNZ"S5W41!\#+)1J1!"`OQAEP?\H5@`6(`#(*`M.BP@8>5\&8\2XH$"
MX`4!OQF3/,T9%0\6JYT?F"<;Y!!/<OJC!_4LP#T/64X(.&`.=Q""!P[`K0\,
M<Y$%$&@J_T@4AHEJH@`7'28"BO4`"%#K41$X9$1&"HMNT66@=%BI$"*BCR&\
M%&8;"9D<:!HT5L9AI2][SD]OVE.6`A6G,%NJ)1BP2C*X00@G@,`#"E#0H3Y`
MG]><0U0OTH:J7K4'!G!`9/(A*6II*P+_R"DC8FI#ZWA"6P*)Z%)?IHE>LF2;
MW'R97>7:O+@:8:UUC8,^PCDCP%ITD'S%![<\:AM/"*"<*V5K`````6&=5:K(
M?*$^/\"MF/+TL!?9+$O80-2[CDFSLO3@R\8Z6EG*X3%\2V9I/<N/FH:6-D*H
M"[06()S6ABNWNO5L.;F94Y2^4+B*$D('DWB4PC@5`"<MZ!P>D_\`!B2SGBA(
M``2X4`N\-E<(5MUN%J`5WK\.%+OZ.`IWO5L8LJ)W6,D<)GF]ZPC'@D$NBWS`
M?&VV+2Y45EJ2RDD0^=$/_B:$G<X4PT%<9``#L^2DJP`$@5UTD54>0,)^2RD9
M&BR7!T-.PR)8`&P8S!8'TS7"3S5`C\)@%!2KH)!60(`#'-!B4N(XQSK>,8][
M[.,?`SG(0AXRD8MLY",C.<E*7C*3F^SD)T,YRE*>,I6K;.4K8SG+6MXRE[OL
MY2^#.<QB'C.9RVSF,Z,YS6I>,YO;[.8W8QD!@9PSG>MLYSOC.<]ZWC.?\PQ;
M.0C``@,8-*$+;>A#(SK1BEXTHQOMZ$?_0SK2DIXTI2MMZ4MC.M.:WC2G)ZV!
MM[)```J`\Y8&`.H5B-I7AJ9`H2E`@0FD@-6$EO6L6XV""0P`UA\8@`1NW>L/
M2&``*1`V"@;]:UX/V]@H>'6PAYUL"J0`U]!F`:\G,&U7+SO7CS(UA4>=J`G@
MH0(TP`,!J$```GC[`^6>PKK9;>X/9*`""O```31!;`40>P`A&P8%+G`!"U0`
MUAX@]KDZH&Y\>P`#WY6`!2XP;X5W0-X>T``+!JZ`"Z#@W.KV@`(JD`%'<;L.
MJ4Z4OJO!G6*G^^`I0'?%A3V`E`\@X+OV@`0&C@)\%WO?']C`!E"@`8S;_+L?
M`/<$T*WO"O1Z_Q@9\';,/U`!#GR``QA?@<7IK6X"$'WH'I@VHD).AY%W'1*9
M*;:@C<WRC)<=V?;>==HE0("/+UL3&ABTH'-.Z&%X0->:`#?!0Z:`<R-<`08?
MQM.C_0$+*``#OZ;ZRSM.@7.?_0-<[_JI8YQR-&%`&)K?_!2X/K"8*R#T14\W
M`>0M^EJXW/0**'J]^X/XCN>;XZ''NPH$'7347MWH>=_]VCL@>@K$V^J,_SO/
M(6_P27E]#F`?5,G3<?)=ISSRD>>$RZ/?<Q1T@`)!Q_G,.;%W%-2<[]Z_N09T
M_P'?#^,"4,=UPENO[Y;_G0+R)H`&2#]Y024?T)</5//E]?R7JX#T[?^?S0%@
MM.7=!V``TFU?['E?!EA`KV4`T/4="F3>XR$<L%7`,'2`!4";OG&`!ZS?,*B=
MO?W=QA&`]D'=!S(;Y75;HTQ`Z,'@]8U;SDW!W]5@NPD?`5+!J+6;PBU@SGF?
M!,R;!UR`P$U!\U6`PID?`@Z#!&S`%!A<YDE!O=V>Q;7>!=2;%";<!W`?_E6>
M).Q?[P3;XMG`JS5!LZ7`&*+`!N@=#*@AR'TA+(0AD!&<J^1?A\TAJ1G)'8[!
M\NEAD_`A@^7A'_Y((+K8()8*MDF>KIEALO4:K:F`!+0AJ[5AML%:L!5:L0W`
MY"E;([+:L'&=VA%<)DK>M5E;JQF:"DP`&N[_&ADJF[.%B2&"@1\B2N+9``%<
M0*^=W0:(&[`UW`54P.--@<R='\U1(,?)V^)EWKQU0/_1',!9P!;VV[\%',M)
M@,=QPO5]H+!](-1I`N)5`-)IW`0D(0[B8,A0@`7@WNTU',#I71=JB2RR$"+:
M";A-'0V46[U9HP=8`-0-@#IR(>"A@`.B0`5<`,6A(+!A80HH@#]^GK<1P`,B
M(-+QW!IN`+HQ'-Q]0Z]U@,UMP`5<7]!=``:<&SE2G,:IP/NI0`90W+[E&]+!
MFT9R`#T6B3P2$DU."286FM[AV@`\H?!)WJ&1(;IM'<MA@`5H0,^!6S-FG+=I
M7]2-I#K67PI@0+IM_X`%8$`H>EL_ID`_!IT$N)T%6(`,UH(M^ANO#9PQ$N#3
M$4#$P=W;$1H0JH#,N>2R>4`&U&$MD"&5V*03T**8."/',:3891PDU.&Y+1W+
M;4!6&N-,>D`UIIO2=4#X15X!`EL$>L#Q%>#MV6`;EIM!DN'$9<`$(-X`'.7A
MM204;IR\99S#A9Y<CE]=%ML3%AY#YN64]&43_&68Z"2A\:1/4@&QT1JA#24!
M7"/B:=\4S)VP.>%%.B7A0>%I^ASIY1RL%2!6IH#ZU>8$D.0%]-OQU8+\=4#]
M`:<4J./`2<`%&!P!;(#\G63K#1M/@9M>HEZQ>:/OJ0`\\F4<6@).MLDU4O\!
M6<*`QFD`QVD`0![H@?9:\8V:$S;DU"7@-6*`U!UD"B2AUEDG1'+@1$K`TH&E
M`F0`R^G;!$8C!33DUDG>UNG@X]6;!@0C2L8GU:%`A8*;!+@:!GCG!]0?&M9=
MJ?'G;NX)N%%!+\H`2B(>4MKERTE!-4Y!$68`>#Y=`BXI?$KI7:)<"F3`DD(=
MPYFGVWE;!]RC!F(<B`+DSG7DO?U=ZX6>.7:?"A0A$T[AU7&AEKY?S>TE;OZH
M?]K*)]H`KU$`Q:7D_:D`GT9;)?I%6X+?",9:7F*`1L9CGF)9>MYI#+PIF.0F
M$P`I(?K(I2Y!IFJJC'"J$GCJIZY(J/K`J#)+';+_HB:9J@Z@ZIMT:.AYXPRT
M6\"IY%UIH<))8>'MH&5:)E5*P<=)H:Y*@<(5:&T"3ZOFP*NZR1!*P:S&`$KR
MW*VFG[&*F\T=*.Y!W[`-X"H&G*V*FZWF8M[A*/$H*PXP:YH(Z124:;2VWK3J
MW%BZG-.Q8;/QE*_N'W,F82\FW-0-'$`J5^R<ZPVD*Y.4W,H!93"07L(.3+L5
M(;4.'6TJ'&D^I@^R&[ZZP-(58`6<';UY6\"ZSL#:0,$N"28N*M=IH7GJ':N%
M(K&=FQ".FDK:*7,6Z`1<8H%J*\:R@`,&F[]FJR;,I-`E*Z0V2C0J)S[6FX1J
M'ZQQP+5>(@@>X'S>:[K]_^I`2J0FV"C-T9S\:5^P$6GOB&P-D.R9".%CPF>1
MME[I=:C$45Q'=MS'96G'#1X,XIOJ@=YKINCK30"8JB>\^9O!7=Q"!D_8TL#8
M/HHBMN+0:=NM+:[BZIJA]69O)BIQ[MHHCJ*AW@[ASH#ADFJ!:*X,<&[G\L?G
MQD#HBJY]D"X,F.[IKD?JOL#J7@OBNH#LIH_KN@#L3LD+TJV`OD"[*4#9'J&S
MXET-+MX$7$"7]E_2&NV&^IV22L'O+H_MM@#N2LD_%AK(!F#2'F0)VF9_,.=(
M9N?'"6$S>ML'<N$&@.4&C%KSEF"_*9SR2&^HZ2F:_"KVKESK60"ZG2T\VEQZ
MOO]OT]T:KI4OWEV;UMHF]R(I_!)MFU0EW3JP`@`<W<K>`],MK.$B!`>C\,[I
M\YX+]&XKBV)`_\T=3Z7E`3L<P`DJV"YPFO0FHAWH]39:QN'E)@9D?M;AP,4<
MH.X:QCV>QHZ:BU*`G8*?BO[:!;S<#*>P"K<@R:6<_6;<_N[O#0M;`D[;-0(J
M>7K;:X(H]F$<^&J?B9YM]*ZPH*SKDB)M?KKFZD$P#(H?%VID`C9<$A8@"I*C
M6,I<@;YM#4]/_*+:_$Z*[/:DL04RKZD=H0*;LDEBM$$;)A;OH-U:$@_N&+-N
MC/"QY4UR(4KR)9=()4L"%D+>)X-R*(OR*)-R*9OR*:,S<BJK\BJS<BN[\BO#
I<BS+\BS3<BW;\BMG`'\6P!CQ<B_[\B\#<S`+\S`3<S$;\Q7I00@``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>d34895d3489508.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 d34895d3489508.gif
M1TE&.#EAG``I`.8``']_?[^_OS\_/R`@(-_?W^?GYY^?G^_O[Q\?'U]?7P\/
M#\_/SQ<7%P@("+>WMR\O+Y>7EZ>GI_?W]X^/CT]/3V]O;\?'QU=75Z^OKR<G
M)WM[>\/#P]?7U_/S\S<W-T='1V=G9X>'APL+"W=W=SL[.R,C(]O;VU-34Q`0
M$.OKZZNKJY.3D[.SL]/3TYN;FQ,3$W-S<[N[NVMK:Z.CH_O[^Q@8&%M;6X.#
M@RLK*QL;&RPL+,O+RTM+2T-#0QP<'(N+BV-C8^/CXS,S,R0D)`,#`P```/__
M_P``````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````"'Y!```````
M+`````"<`"D```?_@$:"@X2$!2P))T6+10P?(RZ%DI.4E9:7F)F:FYR<(0B+
M'Q,!I`$1-PF+#!J=K:ZOL+&O+(L@!@6"&Q$3!@:")AL))2(`LL;'R,F4*10O
M$`4%$!0*C-49`A`$!S<##P'*X.'BF`L,#[@AU-7KU1>",@JLX_/TRA4,$486
M&>S]U0@)"HQH4*&>P8.M##288"25OX>,)A`P4"0$PHL8)SE`$.'`!X@/!4PK
M\F!!A"(@ZAWP($``AHR<+K0D`&N!CQ`'+H#LEV$&A`:+$/A:T4`%H0@#DBI=
MRC0I0TL'0!4I=NE"TZL>E`9!-F#1-U<2*#PX,&(G.V\.BPB@*2A!!ER"_RB:
M9500JE2JE20\F,N(K;&N1;ZV"E`$PP(4.Q$`701``@E&%"0(6J!!PJI!`1@@
M0*`.)%Y*41E?HN&![R*_L@`+[B0`A(2/$''@`KSBP-Y%,@:U$%'$@HLB!RH1
M7N2@E5[1F>`*$K`H@203R52[8E&#`X:=0X)W+3B!D0+)1E8VER`D'Z7A18QV
M"CW5%?,B".A);P7"@Y'2B1U8$&#D]Z(2R@%0C0F9"<=(<9VDP`!RK#$BGU>N
M%)'`=7SE<T`URK6P(".W%+'!>8Q\*(D$IHPB"0&,?#;(`J8$@-H@[Q4!6@`<
MO%A)C1P4,E\G(G`@H&D*5!!!"46<0`A^C.!2A/\[DZ`GXHI2>2>/(`6HHZ(!
MMWFG'HQ!%5(`$(LQ$M`D!52095`D=&"$="MDB0`/RDEBP`!&@&!:-2>,\"2%
MC*1DA`;\-<DA(1H\5,(@"C)HA`P/U;6<@[J=64T)P1%B`9']-#";5XRR\P%X
MDJPP0`?\^(,"#$944(T'2/&F0`@&2*`3(PWL$)>,@B[R9*%%-!`"301$L!BJ
M1A2`6'N/]@H#!QP$$,)B*W"YR"`.+(:#"Z1,@*EL@ZBP:@(31)#``SH(`MAC
M(GR00`+'%O$!#9.TAN)#5,58!%LG,?*`!^,N",0@%(&X"'1&;*".183(500N
M\R*[`"-;WEJ$`B+&.`C_!8N<`&JQ&SZU0)B1%,(68(WD*$@+6=IHA```--P/
M#Y*INDB@1BBB+PI`-8`-`6H&G*N'@F!<A`V3V!QME<@YY)PD.BPR0K*XFJ#.
M`I+\*(1D(3"RFB2`B4`U(=4V%V_+('U`0`&S/FV$R_<28`$`"2R6`2^X2H(>
M@J`T\'4AP]F'='L'U+"(R85TIU:R\1DA=&22+*!.`.PM70E@:A?R'LV$PL!V
M/P)8<(`-]PI2EIB$T)!#BC[;?:`1#Q>10PP6M&"!VP00,!R=[!6#7NV\\YYO
MH!:OR5COO+<@E8M)7K(C(9=/$L(`[(%$P2Z5;KC(WD9`4`T$J?.]NL(@X7Z7
M_Q%\@I3X>_%]/!<&VD^,R?(7SSS)G(KSA0""U3!02%J]82EP$<4!'T3HU+!B
M_"@Q4#,">G82@!]ACA+P2]8#!=&!&I#%'PH`0`_8X8$)A.`"_&`!V,)T+Q),
M4!!W,X)<<L"[V5E@=C&HG:U()1K#%2$&`/`)!"#P`PC,```04,]['J#`/@'@
MB$A,8LL<^#X(2:)YDY!0OMAA@H;IS5X,2(`#L'?`)1FA"%/RGJY4N`@Z88*&
M[4&/)MY3C`*\8!$0P$3[ZC8Y)Q9B5B<T@DP(T"X,T4!H-2"`5!!PFP:\``"D
M.("=.(0B-?T,.AV@!A$L@(E$M4=]P,G$>U!@KD4XJO\2#8O3)")8O\--`@(]
MFD$_&'``J15A``U+20$T8#UWK8L%-R`:!$A@H($EBUB6L"15`',#32*G?0Q(
MP2702$1+D!**DNB``"JP@%*MPQL%R(`(')"B06"J'Q`('/;$"$!!M$\$O@CF
MAJ@R12-=@HU44H?&+G%`R8W2CLR3'R4<H(`"8(`W_2!!`2:P@0W-8!#KP(#M
M9)"`%)!`?[TLIQ$D8#/XI-,(#C#`!>1Q'&09P7HGN`65#!"":"%N$#*SZ-XZ
M8`!''>`QBU"``0BV``/(XYGRJRDT$#11`=@'-OY8"P9`015N5F,U#XMC1.,T
M*PS&DT$%J"4[:/8>>PKM(8+_62`[S(C3PQ'@`14(@`+V9@$13,`C$-&9"K(A
M"%XMHIE4PL$(-J:Z18A2!5)E!"^+I0[S#()_Z\B`(]%7"`,`M!^K.<`WU_$"
M-74U4!4`@#D(EST%.&!S_O@``'I1C<\\('&7L$"-*.$C)$Z`IY-)I"0.L`L!
M)."(ER5$32-@HP.P#P$48)D!(#>)`TA#:`!0J"`<$`&EVFT"$W@)ZQ:PQ4H-
M`@`EP,`!KHK8M#!@F@\8DQ%H8(,7V`HFX+T(`!Y0G)2R8P1\#(5,%N2<!5R@
MG^&-+T(40H$.Q(`$).Q2TP(CB!3$0`)!$(`/4"O?`H\#`@C(@'0M0($H,>9'
M@O%15P8JH#(#6S@9'`!!`P8@PF@```9)$8`+CBB9#0``!2@0X857/(\-7.`%
M`P!!RYQ;`-9JL`$9^(%S6<QC<3B@`@KHC'<$H($G]?C(XX`&!I)X-B0[N16!
#```[
`
end
</TEXT>
</DOCUMENT>
</SUBMISSION>
