<SUBMISSION>
<ACCESSION-NUMBER>0001035704-06-000036
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20060113
<ITEMS>2.05
<FILING-DATE>20060113
<DATE-OF-FILING-DATE-CHANGE>20060113
<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>8-K
<ACT>34
<FILE-NUMBER>001-11919
<FILM-NUMBER>06529611
</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>
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d32000e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<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 style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Date of Report (Date of earliest event reported): January&nbsp;13, 2006</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>TeleTech Holdings, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="30%">&nbsp;</TD>
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    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State of<BR>
Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>0-21055</B><BR>
(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>84-1291044</B><BR>
(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>9197 S. Peoria Street, Englewood, Colorado 80112</B><BR>
(Address of principal executive offices, including Zip Code)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Telephone Number: <B>(303)&nbsp;397-8100</B><BR>
(Registrant&#146;s telephone number, including area code)
</DIV>

<!-- nbsp -->
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
</DIV>


<DIV style="margin-top: 6pt">
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    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
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<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">
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</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;2.05. Costs Associated with Exit or Disposal Activities</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="d32000exv99w1.htm">Press Release</A></TD></TR>
</TABLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;2.05. Costs Associated with Exit or Disposal Activities" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2.05. Costs Associated with Exit or Disposal Activities</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;On January&nbsp;11, 2006, TeleTech Holdings, Inc. (the &#147;Company&#146;) opted to exit its South Korea
facility in the first quarter 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company hereby incorporates by reference the press release dated January&nbsp;12, 2006 attached
hereto as Exhibit&nbsp;99.1
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Exhibits</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release issued by TeleTech on January&nbsp;12, 2006</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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<DIV style="font-family: 'Times New Roman',Times,serif">
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<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">TeleTech Holdings, Inc.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Kenneth D. Tuchman
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">KENNETH D. TUCHMAN&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated: January&nbsp;13, 2006
</DIV>



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

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</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="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>EXHIBIT NUMBER</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>DESCRIPTION</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release Dated January&nbsp;12, 2006 &#150; TeleTech Provides Business Update</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d32000exv99w1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</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="65%">&nbsp;</TD>
    <TD width="5%">&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"><B>Investor Contacts:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Media:</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Karen Breen<BR>
Investor Relations<BR>
303-397-8592
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">KC Higgins<BR>
Public Relations<BR>
303-397-8325</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TELETECH PROVIDES BUSINESS UPDATE</B><BR>
<I>Record Revenue Expected for Fourth Quarter 2005,<BR>
Ten Percent of Outstanding Common Stock Repurchased During 2005</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Denver, Colo., January&nbsp;12, 2006 </B>&#150; TeleTech Holdings, Inc. (NASDAQ: TTEC), a global provider of
customer management and transaction-based business process outsourcing (BPO)&nbsp;solutions, today
provided a business update.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">TeleTech continues to execute on its principal goals of enhancing future profitability by
continuing to, among other tactics:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>deliver clients the highest Total Value,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>win new large global client agreements,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>renew and expand existing client relationships,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>improve Newgen&#146;s financial performance, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>expand capacity to meet client demand and rationalize unprofitable capacity.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This business update reports upon recent progress on certain aspects of these plans, among other
information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Deliver Clients the Highest Total Value</B><BR>
TeleTech&#146;s strategy is to win new clients and expand existing client relationships by delivering
the highest Total Value. This strategy has been executed by continual investment in technology,
patented processes, and human capital.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Win New Large Global Client Agreements</B><BR>
Since early November, TeleTech has won &#147;New Client Logo&#148; agreements estimated at $10&nbsp;million
annually, primarily in the financial services and utility industries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>2005 Fourth Quarter Revenue</I></U><BR>
TeleTech currently estimates fourth quarter 2005 revenue will be an all-time historic high of
approximately $300&nbsp;million. As previously announced, TeleTech Government Solutions began work in
mid-September&nbsp;2005 on behalf of a large branch of the U.S. government to assist in the Gulf Coast
hurricane relief efforts. This work continued through late November&nbsp;2005, representing
approximately 10&nbsp;percent of TeleTech&#146;s fourth quarter 2005 revenue.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Renew and Expand Existing Client Relationships</B><BR>
TeleTech&#146;s performance with existing clients has enabled it to renew and expand contracts with its
global &#147;Embedded Client Base&#148;, resulting in an estimated $90&nbsp;million in annual revenue signed since
early November, net of attrition. Approximately 70&nbsp;percent of this is from expanded client
relationships. TeleTech believes that its performance levels for clients will enable it to further
grow its Embedded Client Base.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Improve Newgen&#146;s Financial Performance</B><BR>
As disclosed in TeleTech&#146;s third quarter 2005 Form 10-Q, the Company indicated that Newgen was
working with its largest client to jointly develop a new agreement for 2006. In December of
</DIV>

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

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2005, a new agreement was executed and Newgen will begin its second decade of being a preferred,
but not an exclusive, provider to this client and its automotive dealerships. Under this
agreement, Newgen now has the flexibility to customize service offerings and to contract directly
with the client&#146;s dealerships.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">TeleTech has retained a new President for Newgen and will publicly announce his appointment
shortly. The new President is a seasoned executive with extensive experience as a general manager
with full profit and loss responsibility for significant divisions of multibillion dollar
corporations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Expand Capacity to Meet Client Demand and Rationalize Unprofitable Capacity</B><BR>
As a result of new and expanded client relationships, TeleTech has plans to expand its capacity in
select International markets with the addition of an estimated 4,500 workstations in Argentina,
Canada, and the Philippines. This figure includes 1,500 workstations in the Philippines that were
previously announced in TeleTech&#146;s third quarter 2005 earnings release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On TeleTech&#146;s third quarter 2005 conference call, the Company stated its intent to reach a decision
on its South Korean operation by year-end. Based on TeleTech&#146;s assessment that there is a limited
future market opportunity, TeleTech has decided to exit its South Korean facility during the first
quarter 2006. This facility generated an operating loss, before corporate allocations, of
approximately $3.4&nbsp;million during the past 12&nbsp;months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As a result of exiting this center, TeleTech will record a pre-tax asset impairment charge
currently estimated at approximately $2&nbsp;million in the fourth quarter of 2005. This action is
expected to result in an annualized pre-tax profit improvement estimated between $2.5&nbsp;million and
$3.0&nbsp;million beginning the first quarter of 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Other Information</B><BR>
<U><I>2005 Common Stock Repurchase Program</I></U><BR>
During the fourth quarter of 2005, TeleTech repurchased 2.1&nbsp;million shares of its common stock for<BR>
a total of $22.3&nbsp;million. For the full year of 2005, TeleTech repurchased 7.1&nbsp;million shares, or<BR>
approximately 10&nbsp;percent of its common stock outstanding, for a total of $67.8&nbsp;million. TeleTech<BR>
intends to continue its common stock repurchase program during 2006.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>First Quarter 2006 Financial Results</I></U><BR>
As the fourth quarter 2005 benefited from the short-term hurricane relief work for the U.S.
government discussed above, TeleTech believes revenue for the first quarter of 2006 will be lower
when compared to the fourth quarter 2005. Earnings for the first quarter 2006 will be impacted by
the lower revenue and, as previously disclosed in the Company&#146;s SEC filings, higher first quarter
labor related costs due to increased payroll taxes, and the adoption of SFAS 123R as discussed
below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>2006 Stock Option Expense</I></U><BR>
TeleTech will adopt Statement of Financial Accounting Standards No.&nbsp;123 (revised 2004),
&#147;Share-Based Payment&#148; (&#147;SFAS 123R&#148;) beginning in the first quarter of 2006. TeleTech preliminarily
estimates adoption of SFAS 123R will result in an after-tax impact to diluted earnings per share of
approximately $0.04 to $0.05 in 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ABOUT TELETECH</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">TeleTech is a global business services company that provides a full range of front-to-back office
outsourced solutions including customer management, BPO, and database marketing services to
measurably enhance clients&#146; core customer management processes. TeleTech&#146;s comprehensive solutions
include fully managed, technology-based services including infrastructure, software applications,
and business intelligence. TeleTech&#146;s ability to create innovative strategies, combined with its
global technology platform and delivery infrastructure, helps clients increase
</DIV>

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

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">revenue, lower costs, and retain their customers around the world. TeleTech&#146;s products and
services, standardized processes, and recognized capabilities to implement complex global projects
make the Company a valued partner for clients that include Global 1000 businesses and governments.
TeleTech partners with clients to offer 150 languages, through its 36,000 employees, in 17
countries. For additional information, visit <U>www.TeleTech.com</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FORWARD-LOOKING STATEMENTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>This press release may contain certain forward-looking statements relating to future results. The
Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking
statements. These forward-looking statements are subject to risks and uncertainties that may cause
TeleTech&#146;s and its subsidiaries&#146; actual results to differ materially from those expressed or
implied by such forward-looking statements, including but not limited to the following: the
Company&#146;s estimates and or beliefs regarding certain fourth quarter 2005 and 2006 financial
results; estimated revenue from new, renewed or expanded client business; achieving the Company&#146;s
expected profit improvement in its International operations; the ability to close, ramp and/or grow
new business opportunities within its Embedded Client Base, with New Client Logo agreements or with
potential clients; the ability for the Company to execute its growth plans, including sales of new
products (such as TeleTech On Demand</B><SUP style="font-size: 85%; vertical-align: text-top"><B>TM</B></SUP><B> and TeleTech In Culture</B><SUP style="font-size: 85%; vertical-align: text-top"><B>TM</B></SUP><B>); to
increase profitability via the globalization of its North American best operating practices; to
achieve its year-end 2007 financial goals and targeted cost reductions; the possibility of the
Company&#146;s Database Marketing and Consulting not returning to historic levels of profitability; the
possibility of lower revenue or price pressure from clients experiencing a downturn or merger in
their business; greater than anticipated competition in the customer care market, causing adverse
pricing and more stringent contractual terms; risks associated with losing or not renewing client
relationships, particularly large client agreements, or early termination of a client agreement;
the risk of losing clients due to consolidation in the industries the Company serves; consumers&#146;
concerns or adverse publicity regarding the products of the Company&#146;s clients; higher than
anticipated start-up costs or lead times associated with new ventures or business in new markets;
execution risks associated with performance-based pricing metrics in certain client agreements; the
Company&#146;s ability to find cost effective locations, obtain favorable lease terms, and build or
retrofit facilities in a timely and economic manner; risks associated with business interruption
due to weather or terrorist-related events; risks associated with attracting and retaining
cost-effective labor at the Company&#146;s customer management centers; the possibility of additional
asset impairments and restructuring charges; risks associated with changes in foreign currency
exchange rates; economic or political changes affecting the countries in which the Company
operates; changes in accounting policies and practices promulgated by standard setting bodies; and,
new legislation or government regulation that impacts the customer care industry.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Please refer to the Company&#146;s filings with the Securities and Exchange Commission, including the
Company&#146;s Annual Report on </B><B>Form 10-K</B><B> for the year ended December&nbsp;31, 2004 and Quarterly Report on
Form&nbsp;10-Q for the three months ended September&nbsp;30, 2005, for a detailed discussion of factors
discussed above and other important factors that may impact the Company&#146;s business, results of
operations, financial condition, and cash flows. The Company assumes no obligation to update its
forward-looking statements to reflect actual results or changes in factors affecting such
forward-looking statements.</B>
</DIV>

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