Setting Outlook contacts as private for shared contacts

Hi, my boss is about to start using a program in which he needs to share his Outlook contacts. He has not synced his contacts yet so what's happening isn't related to the new software.

I told him he could mark chosen contacts as "private".

For some reason when he marks a contact as private (by opening it and clicking the "private" box in the lower right hand corner) he loses key information within the contact. It keeps wiping out the company name and recategorizing the contact; for example Amazon.com becomes com, Amazon. and shows up in the "C"s instead of "A".

When I do it, this does not happen. Has anyone heard of this problem?