CHARLOTTE, N.C., May 2 /PRNewswire/ -- Alydaar Software Corporation (OTC:BULLETIN
- news) announced today that the North Carolina-based software reengineering company has
successfully completed and delivered an automated assessment of century compliance of more than
24 million lines of code (LOC) of COBOL application software for a leading U.S. Investment Bank.
The software included critical applications for the company's operations such as the Trade
Management System, the Foreign Exchange System, and many of the core processing systems.
Alydaar has recently been awarded Year 2000 agreements for four insurance companies, two
banks, and three brokerage firms. The Company has an on-site factory at one of the insurance
companies, where it is using the expansion solution for remediation, and is also using its windowing
solution in its Charlotte factory to remediate software programs for that customer. The total
estimated value of the present contracts is in excess of $33 million, with targeted completion dates
ranging from May 31, 1997 through December 31, 1998.
Alydaar Software has developed a new, breakthrough third-generation SmartCode(TM)
technology, which is designed to dramatically cut the time it takes to find fields and fix and test code
for Year 2000 compliance. The new technology is a significant extension of Alydaar's SmartCode II
technology, which was introduced in December, 1996 and has been successfully used to maintain
and reengineer legacy systems. SmartCode is an artificial intelligence / expert system-based
technology, which is both computer language and hardware platform independent. Additional
information is available on the Internet at www.alydaar.com.
SOURCE: Alydaar Software Corporation |
