"His groundbreaking research in risk management -- especially
in derivatives -- together with his general modeling acumen will
contribute tremendously to our asset management capabilities.0 million benefit from the stronger Euro compared
with the same period last year.9 million in net gain on disposal of property and equipment, together
representing 4.
The increase was attributable to Sarbanes-Oxley compliance costs of
approximately $3. However, even with our momentum, we
still have much to accomplish. In response, we intend to leverage our past experience, "can do"
attitude, and financial strength to meet the challenges head on," commented
Chuck Sykes, Chief Executive Officer.5 million to $1.

Sykes Enterprises , Incorporated
Condensed Consolidated Statements of Operations
(in thousands, except per share data)*
(Unaudited)

Three Months Ended
Dec.07
Shares outstanding, basic 39,197 40,184

Net income per diluted share $0.

Sykes Enterprises , Incorporated
Condensed Consolidated Statements of Operations
(in thousands, except per share data)*
(Unaudited)

Twelve Months Ended
Dec.

civilizations ganski

Murdock,
President of NYLIM.
With more than $189 billion in assets under management as of
December 31, 2004, New York Life Investment Management LLC and its
affiliates provide a wide range of investment services to
institutional, individual, corporate, public, and Taft-Hartley
clients, including institutional asset management, retail investments,
retirement services, guaranteed products, real estate investments, and
alternative investments.S.
On a sequential basis, the operating margin rose to 19.1 million
restructuring reversal related to previously recorded restructuring accruals.7% of total revenues.
Excluding this foreign currency benefit, EMEA revenues for the twelve-months
of 2004 increased by $7.com .sykes.com .

Sykes Enterprises, Incorporated
Segment Results
(in thousands, except per share amounts)
(Unaudited)

Three Months Ended
Dec.

malaspina joseph

seats as a percentage of
seats in the Americas region declined to approximately 20% in the fourth
quarter of 2004 from 41% in the same period last year.7% compared to 8.9% in the prior
year period.
Sequentially, the EMEA operating margin improved to 10.
This compared to revenues of $321. Approximately
$79. The conference
call will be carried live on the Internet. This press release is also posted on the Investors section of SYKES'
website at http: //www."

About Sykes Enterprises, Incorporated
SYKES is a global leader in providing customer contact management
solutions and services in the business process outsourcing (BPO) arena . based clients.

His most famous work, A Study of History, was published in twelve volumes between 1934 and 1961 and traces the development of about two dozen civilizations.

1975 1934

3 million in the
third quarter of 2004.8% versus 31. Their accomplishments in repositioning our delivery
infrastructure have greatly enhanced our company's ability to compete under
the new challenges of globalization . These challenges have the potential of weighing on our operating
performance.0 million

For the twelve months ended December 31, 2005, the Company anticipates the
following financial results:

* Revenues in the range of $460 million to $480 million
* EPS in the range of $0. 31,
2004 2003

Revenues $120,713 $124,212
Direct salaries and related costs (72,766) (79,119)
General and administrative (41,303) (43,099)
(Loss) gain on disposal of
property + equipment, net (94) 47
Proceeds from property insurance
settlement 5,378 --
Impairment of long-lived assets (690 ) --
Reversal of restructuring + other
charges 113 446
Income from operations 11,351 2,487
Other income 157 1,347
Income before provision for income
taxes 11,508 3 ,834
Provision for income taxes (3,084) (1,201)
Net income $8,424 $2,633

Net income per basic share $0.

succession dozen

For the past eleven years, Dr. Dr.D. Consequently, SYKES' U. to offshore, where each seat generates roughly half the
dollar equivalence of a U.4 million insurance settlement gain and a
$6.

Corporate Costs
Corporate costs for the twelve months ended December 31, 2004 totaled
$28.9 million and no outstanding debt.16 to $0.sykes. It is important to note that SYKES' actual results could
differ materially from those in such forward-looking statements, and undue
reliance should not be placed on such statements.21 $0.2%
Europe, Middle East + Africa
(EMEA) 40.

deveopment moral

"
"The Director of Equity Research is a key role to support the
suite of quantitatively oriented equity products that we are planning
to offer our clients. His research related to risk management and
derivatives has been published in numerous scholarly journals
including the Journal of Financial Economics, Journal of Financial and
Quantitative Analysis, and Journal of Monetary Economics. The revenue decline
and percentage shift primarily reflected the client-migration of customer call
volumes from the U. seat .

Impairment Charges, Restructuring Reversals, Other Income and Taxes
During the fourth quarter of 2004, the Company recorded an impairment
charge of $0. The year-over-year
decrease was primarily due to a higher level of foreign currency translation
losses.

2004 Twelve -Month Review

Americas
For the twelve-months ended December 31, 2004, revenues generated from the
Company's clients in the Americas segment, including operations in North
America and offshore, totaled $283.S. The results for the
twelve-months of 2004 include a $5.6% in the
prior year. The year-over-year margin improvement was due to a combination of
the Company's efforts to realign EMEA's cost structure with current business
levels, increase in customer call volumes and higher incentive payments.m.

malaspina rather

This is a new position at
Equity Investors, and Dr. The move to expand the Company's offshore
operations has been a calculated strategic undertaking by the management team
in response to shifting demand drivers for the delivery of customer contact
management services from a purely U. The results for the fourth quarter of 2004 include a
$5.8% in
the third quarter of 2004. Excluding this foreign currency benefit, EMEA
revenues for the fourth quarter of 2004 increased by $3.8 million, or 13.9 million from $6. operating losses net of facility sales.
The Americas ' operating margin before corporate G+A expenses and other
charges for the twelve-months ended December 31, 2004 was 10.8 million, reflecting a combination of an increase in
certain customer call volumes and higher incentive payments related to quality
operating performance. In addition,
the Company incurred Chairman and CEO succession costs of approximately
$1. However, it is reasonably
possible that it may repatriate some amount between $0. At
December 31, 2004, the Company also had $50 million available under its credit
facility. For the three- and twelve-months ended December 31, 2004, the
Company generated approximately $3.

Business Outlook
"I am very pleased with the operating momentum our team has accomplished
as we enter 2005.02 to $0.
Utilizing its integrated onshore/offshore global delivery model, SYKES serves
its clients through two geographic operating segments: the Americas (United
States, Canada, Latin America, India and the Asia Pacific Rim) and EMEA
(Europe, Middle East and Africa).

failures 1889

For more information, visit the New York Life
Investment Management LLC site at www.nylim.0% to $71.9% to $49.8 million from favorable
foreign currency effects and higher incentive payments.
During the quarter, the Company's tax rate was 26.S. The revenue decline and percentage shift primarily
reflected the client-migration of customer call volumes from the U. centers designated as "held for sale. 31,
2004 2003

Revenues:
Americas $283,253 $321,195
EMEA 183,460 159,164
Total $466,713 $480,359

Operating Income:
Americas $30,960 $31 ,607
EMEA 10,478 2,497
Operating income before reversal of
restructuring + other charges,
impairment of long-lived assets
and corporate G+A 41,438 34,104

Corporate G+A expenses (28,264) (23,382)
Reversal of restructuring +
other charges 113 646
Impairment of long-lived
assets (690) 0
Income from operations 12,597 11,368

Other income 3,264 2,588
Provision for income taxes (5,047) (4,651)

Net income $10,814 $9,305

Sykes Enterprises, Incorporated
Condensed Consolidated Balance Sheets
(in thousands)

December 31, December 31,
2004 2003
(Unaudited)
Assets:
Current assets $203,397 $186,313
Property and equipment, net 82,891 107,194
Other noncurrent assets 26,238 24,668
Total assets $312,526 $318,175

Liabilities + Shareholders ' Equity:
Current liabilities $66,998 $67,809
Noncurrent liabilities 35,493 49,534
Shareholders' equity 210,035 200,832
Total liabilities and
shareholders ' equity $312,526 $318,175

Sykes Enterprises , Incorporated
Supplementary Data
(Unaudited)

Q4 2004 Q4 2003

Geographic Mix (% of Total Revenue):

Americas (1) 59.

ganski toynbee

at
Princeton University in 1994 and holds a B.2 million,
or 66. to offshore, where each seat generates
roughly half the dollar equivalence of a U.
On a sequential basis, the Americas' revenues rose 5.

EMEA
Revenues from the Company's Europe, Middle East and Africa (EMEA) region
rose 16.S.8% for the twelve-months ended December 31, 2003. The
foreign currency effect to SYKES' twelve-months 2004 EMEA revenues was a
$16.
The EMEA operating margin before corporate G+A expenses and other charges
for the twelve-months ended December 31, 2004 was 5.7 million in cash flow
from operations, respectively. For additional
information please visit http://www.27 $0.

failures historians

2% of total revenues, for the prior year period. based delivery model to a more globally
based delivery model.
The Americas' operating margin before corporate G+A expenses + other
charges for the fourth quarter of 2004 was 19. The sequential increase in EMEA revenues is due to
better seasonal increase in volumes, which are seasonally low due to European
holidays in the third quarter, approximately $2.

Corporate Costs
Corporate costs totaled $7.
Other income for the fourth quarter of 2004 totaled $157 thousand compared
to $1.3 million, or 60.9% of total revenues, for
the twelve-months of 2003.6 million in net
gain on disposal of property and equipment in 2003.9 million.04 per diluted share
* Capital expenditures in the range of 3. 31, Dec.

civilizations deveopment

6 million, or 59.3% of total revenues,
for the fourth quarter of 2004.
However, persistent economic sluggishness in SYKES' key European markets
continue to present challenges for the Company. In addition, the Company reported a $0.2 million, or 66.7% compared to 1. 31, Dec. 31, Dec.0% 100. 31,
2004 2003

Cash Flow From Operating Activities:
Net income $10,814 $9,305
Depreciation and amortization 30,237 30,125
Changes in assets and
liabilities and other (27,316) (5,206)
Net cash provided by operating
activities $13,735 $34,224

Capital expenditures $25,665 $29,273
Cash interest paid $430 $460
Cash taxes paid $9,220 $9,708

In it, Toynbee famously posits world history as a succession of civilizations rather than states, that these civilizations pass through stages of deveopment, and that the demise of civilizations owes to moral or religious failures rather than external ones.

rather ganski

Business Editors

PARSIPPANY, N. The third quarter of 2004 included a gain of
$2. The foreign currency effect to SYKES' fourth quarter
2004 EMEA revenues was a $4. Sequentially, EMEA revenues
rose $5. The Company, therefore,
anticipates filing a Notification of Late Filing on Form 12b-25, and filing
its Annual Report on Form 10-K on or before March 31, 2005.

ones posits

In hiring Ludger Hentschel, we have established
a strong foundation for leveraging our equity research expertise
across a wide range of investment products," added Brian A. in Engineering Science
from Yale University . This compared to revenues of $82.S.8 million related to the sale of a customer contact management center,
while the fourth quarter included a $5.4 million gain related to the property
insurance settlement.1 million, largely
reflecting a better-than-expected increase in certain customer call volumes
and higher incentive payments related to quality operating performance.5 million in the fourth quarter of 2004, an
increase of $0.7 million related to the migration of customer call volumes from
SYKES' Bangalore, India facility to other more strategically aligned centers
in the APAC region .9%, versus $1.

EMEA
For the twelve-months ended December 31, 2004, revenues from the Company's
EMEA region rose 15% to $183.0 and $50 million.

Annual Report on Form 10-K to be Delayed
The Company anticipates that it will not be able to file its Annual Report
on Form 10-K by the due date of March 16, 2005, due to the significant amount
of additional time and effort required in complying with the new rules of the
SEC adopted under the Sarbanes Oxley Act of 2002 .
The Company's outlook for the full year 2005 takes into consideration
moves to enhance productivity within existing accounts, revenue growth from
existing and new client accounts and continued improvement in asset
utilization across both the Americas and EMEA regions.0 million
* Tax provision in the range of $0.com/investors.

moral toynbee

Hentschel was an Economist with the
Board of Governors of the Federal Reserve System working on
international financial issues.7%.S.7 million.S.0 million to $5. Eastern Time. 31,
2004 2003

Cash Flow From Operating Activities:
Net income $8,424 $2,633
Depreciation and amortization 7,043 7,160
Changes in assets and
liabilities and other (11,942) 10,511
Net cash provided by operating
activities $3,525 $20,304

Capital expenditures $4,165 $8,662
Cash interest paid $215 $77
Cash taxes paid $1,698 $1,831

Twelve Months Ended
Dec.

demise rather

----New York Life
Investment Management LLC (NYLIM) today announced the appointment of
Dr. He will report to Tony Elavia, Chief Investment
Officer of NYLIM Equity Investors.
"Ludger is a leader in the area of quantitative financial
modeling, and we are delighted to have him on board," said Tony
Elavia.S.

Sykes Enterprises Incorporated Reports Fourth Quarter and Full-Year 2004 Financial Results

5% of Americas operating margin of 19. Excluding the insurance settlement gain,
the Americas' operating income improvement was due to the Company's continued
efforts to optimize assets and reduce duplicative costs, as well as better-
than-expected customer call volumes and favorable revenue mix-shift towards
higher margin offshore regions.
The operating margin for EMEA before corporate G+A expenses + other
charges in the fourth quarter of 2004 was 10.3% of operating margin of 10.23
Shares outstanding, diluted 39,722 40,441

* Certain prior year balances have been reclassified to conform to the
current year's presentation.0%

(1) Includes the United States, Canada, Latin America, India and the Asia
Pacific (APAC) Region.

twelve civilizations

Ludger Hentschel, 40, as Director of Equity Research for the
recently formed NYLIM Equity Investors. to higher margin offshore operations and the resulting
mix-shift in revenues from the U. The
higher margin was a combination of better than expected seasonal increase in
customer call volumes (seasonally low due to European holidays in the third
quarter), fourth-quarter-only employment grant benefits and higher incentive
payments. The
increase was primarily attributable to higher professional fees related to
Sarbanes-Oxley compliance costs and other legal costs.3 million and other legal and professional fees. Headquartered in Tampa, Florida, with customer contact
management centers throughout the world, SYKES provides its services through
multiple communication channels encompassing phone, e-mail, web and chat. 31,
2004 2003

Revenues:
Americas $71,592 $82,180
EMEA 49,121 42,032
Total $120,713 $124,212

Operating Income:
Americas $14,091 $6 ,948
EMEA 5,297 1,648
Operating income before reversal of
restructuring + other charges,
impairment of long-lived assets
and corporate G+A 19,388 8,596

Corporate G+A expenses (7,460) (6,555)
Reversal of restructuring +
other charges 113 446
Impairment of long-lived
assets (690) 0
Income from operations 11,351 2,487

Other income 157 1,347
Provision for income taxes (3,084) (1,201)

Net income $8,424 $2,633

Twelve Months Ended
Dec.8%
Total: 100. Latin America, India and APAC are included in the
Americas due to the nature of the business and client profile, which is
primarily made up of U .

malaspina demise

Prior to joining the University of Rochester's
Simon School of Business, Dr. Hentschel earned his Ph.5% in the
fourth quarter of 2003.8%, in the prior
year's fourth quarter.8% compared to 3. The fourth quarter 2004 effective tax rate declined
primarily due to higher income from low tax jurisdictions . seat.2 million, or 33.1%, in the prior year.
The 2005 outlook does not include the sale of customer contact centers;
however, as in the past, the management team will continue to pursue avenues
to sell four excess U.21 per diluted share
* Capital expenditures in the range of $10. Among the important factors
that could cause such actual results to differ materially are (i) the timing
of significant orders for SYKES' products and services, (ii) variations in the
terms and the elements of services offered under SYKES' standardized contract
including those for future bundled service offerings, (iii) changes in
applicable accounting principles or interpretations of such principles , (iv)
difficulties or delays in implementing SYKES' bundled service offerings, (v)
failure to achieve sales, marketing and other objectives, (vi) construction
delays of new or expansion of existing customer support centers, (vii) delays
in the Company's ability to develop new products and services and market
acceptance of new products and services, (viii) rapid technological change,
(ix) loss or addition of significant clients, (x) risks inherent in conducting
business abroad, (xi) currency fluctuations, (xii) fluctuations in business
conditions and the economy, (xiii) SYKES' ability to attract and retain key
management personnel, (xiv) SYKES' ability to continue the growth of its
support service revenues through additional technical and customer service
centers, (xv) SYKES' ability to further penetrate into vertically integrated
markets, (xvi) SYKES' ability to expand its global presence through strategic
alliances and selective acquisitions, (xvii) SYKES' ability to continue to
establish a competitive advantage through sophisticated technological
capabilities, (xviii) the ultimate outcome of any lawsuits, (xix) SYKES'
ability to recognize deferred revenue through delivery of products or
satisfactory performance of services, (xx) SYKES' dependence on trends toward
outsourcing, (xxi) risk of interruption of technical and customer contact
management center operations due to such factors as fire and other disasters,
power failures, telecommunications failures, unauthorized intrusions, computer
viruses and other emergencies, (xxii) the existence of substantial
competition , (xxiii) the early termination of contracts by clients; and (xxiv)
other risk factors listed from time to time in SYKES' registration statements
and reports as filed with the Securities and Exchange Commission.

Arnold J.

1889 arnold

7 million; earnings of $0.2 million in the third quarter of 2004.4 million in 2003 , an increase of $4. In 2005, the European market could test us in
similar ways that the Americas market tested us in 2004, but on a smaller
scale. Instructions for listening to the
call over the Internet are available on the Investors page of SYKES' website
at http://www.07
Shares outstanding, diluted 39,304 40,445

* Certain prior year balances have been reclassified to conform to the
current year's presentation.23
Shares outstanding , basic 39,607 40,300

Net income per diluted share $0.

malaspina posits

1 million, representing 40.3%, to $49.1 million compared to $43.6 million in the prior year period .5 million, representing 39. SYKES also provides various enterprise
support services in the Americas and fulfillment services in EMEA, which
include multi-lingual sales order processing, payment processing , inventory
control, product delivery and product returns handling.

Forward-Looking Statements
This press release may contain "forward-looking statements," including
SYKES' estimates of future business outlook, prospects or financial results,
statements regarding SYKES' objectives, expectations, intentions, beliefs or
strategies, or statements containing words such as "believe ," "estimate,"
"project," "expect," "intend," "may," "anticipate," "plans," "seeks," or
similar expressions.

owes 1975

14 per diluted share from a property insurance settlement related
to a damaged Florida customer contact center
* The property insurance settlement, better-than-expected increase in
customer call volumes, higher incentive payments related to quality account
performance, favorable revenue mix-shift to higher margin offshore regions and
favorable foreign currency movements drove above-guidance revenues and
earnings
* Exited 2004 with Cash and cash equivalents of $93.6 million
compared to $68. The year-over-year margin improvement was due to a combination
of the Company's efforts to realign EMEA's cost structure with current
business levels, a better than expected increase in customer call volumes and
higher incentive payments.sykes. 31,
2004 2003

Revenues $466,713 $480,359
Direct salaries and related costs (300,600) (309,489)
General and administrative (165,232) (161,743)
Gain on disposal of property +
equipment, net 6,915 1,595
Proceeds from property insurance
settlement 5,378 --
Impairment of long-lived assets (690) --
Reversal of restructuring + other
charges 113 646
Income from operations 12,597 11,368
Other income 3,264 2,588
Income before provision for income
taxes 15,861 13,956
Provision for income taxes (5,047) (4,651)
Net income $10,814 $9,305

Net income per basic share $0. 31, Dec.3% 66.

twelve demise

, Sykes Enterprises,
Incorporated ("SYKES" or the "Company") (Nasdaq: SYKE), a global leader in
providing outsourced customer contact management solutions and services in the
business process outsourcing (BPO) arena, announced today financial results
for the fourth quarter of 2004, highlights of which are as follows:

* Revenues of $120.7%, on an insurance
settlement claim related to tornado damage at the Company's Marianna, Florida
customer contact management center.3% of SYKES' total
revenues, compared to $159.

Liquidity and Capital Resources
The Company's balance sheet at December 31, 2004 remained strong with cash
and cash equivalents of $93.0 million of the Company's December 31st cash balance was held in
international operations and may be subject to additional taxes if repatriated
to the U. SYKES specializes in providing flexible, high quality customer
support outsourcing solutions with an emphasis on inbound technical support
and customer service. 31, Dec.

1934 civilizations

Ludger Hentschel Appointed Director of Equity Research NYLIM Equity Investors

J. Hentschel will be responsible for developing
and implementing new quantitative models as well as for monitoring
quantitative research.S.S. The sequential
revenue increase is attributable to better-than-expected increase in customer
call volumes.3 million for the same period in the prior year. The Company has a
valuation allowance against 2004 U. Excluding the insurance
settlement gain, the Americas operating margin would have decreased due to the
migration of customer call volumes to offshore and the resulting duplicative
costs.S.5 million and $13.0 million
* Tax provision in the range of $4. SYKES
provides an array of sophisticated customer contact management solutions to
Fortune 1000 companies around the world, primarily in the communications ,
financial services, healthcare, technology and transportation and leisure
industries. All
forward -looking statements included in this press release are made as of the
date hereof, and SYKES undertakes no obligation to update any such forward-
looking statements, whether as a result of new information , future events, or
otherwise. 31, Dec.

owes toynbee

21 per diluted share,
including $0. By contrast , the total
number of offshore seats rose as a percentage of seats in the Americas region
to approximately 75% in the fourth quarter of 2004 from approximately 54% in
the corresponding period of the prior year; while Canada remained constant at
5% of total seats in the Americas region in the fourth quarter of 2004 versus
the same period last year.7% from 12."
Considering the above factors, the Company anticipates the following
financial results for the three months ended March 31, 2005:

* Revenues in the range of $115 million to $120 million
* EPS in the range of a $0.3 million

Conference Call
The Company will conduct a conference call regarding the content of this
release tomorrow, March 15, 2005 at 10:00 a.27 $0.

Q4 2004 Q4 2003 FY 2004 FY 2003

Vertical Industry Mix (% of Total
Revenue):

Communications 30% 41% 32% 43%
Technology / Consumer 38% 31% 36% 33%
Financial Services 8% 7% 8% 6%
Transportation + Leisure 6 % 5% 6% 5%
Healthcare 8% 8% 7% 6%
Other 10% 8% 11% 7%
Total: 100% 100% 100% 100%

Sykes Enterprises, Incorporated
Cash Flow from Operations
(in thousands)
(Unaudited)

Three Months Ended
Dec.

dozen owes

Hentschel has been teaching Finance
to MBA students at the University of Rochester, most recently as an
Associate Professor.com

According to industry
analysts , offshoring has truly become a stimulus for the customer contact
management industry in piquing the interest of firms that had not previously
considered outsourcing of any sort.7% of SYKES' total revenues for
the fourth quarter of 2004 compared to $42. to
SYKES' higher margin offshore operations and the resulting mix-shift in
revenues from the U.5 million benefit from the stronger Euro compared with twelve-months 2003. The Company's is not yet in a position to decide on whether and
to what extent it might repatriate earnings. A replay will be available at this location for two
weeks.

7% 33.S.

Toynbee, 1889-1975, was a professor of international history at the University of London.

famously posits

Strong Fourth Quarter Performance Boosts Revenues and EPS Ahead of Guidance

TAMPA , Fla.9 million and no
outstanding debt

Operating Performance by Segment

Americas
Revenues generated from the Company's clients in the Americas segment,
including operations in North America and offshore (Latin America, India and
the Asia Pacific region), totaled $71.S.

4 million gain, 7.0 million, or 33.8% from 5.3% in the
same period last year.9% compared to
9.3 million compared to $23.0 million to $15.3 million to $5.asp under the heading "Investor
Newsroom - Press Releases.21 $0.