WLDC NEWS!
ISOTEC (WLDC) Announces Today Major Government Systems
Integrator Contract Has Been Finalized
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WESTMINSTER, Colo., May 24 /PRNewswire/ -- ISOTEC (WLDC) announces today that the major
Government Systems Integrator contract has been finalized. ISOTEC, the wholly owned subsidiary of
World Am Communications, Inc. (OTC Bulletin Board: WLDC) announced on April 20 that it had
reached agreement in principal and received a firm letter of intent from Engineering and Professional
Services Incorporated (EPS) to enter into an OEM (Private Label) Agreement for ISOTEC's
Weapons/Passage Control Systems. In addition, EPS will execute a Sales Representative Agreement
with ISOTEC, for the products distributed by its wholly owned subsidiary, Technology Development
International (TDI). This contract has now been finalized and ISOTEC is moving forward.
Founded in 1983, EPS is engaged primarily in business with federal and state governments, i.e. Dept. of
State, CIA, NSA and Military. The company is a system integrator in the areas of software/systems
engineering, logistics, intrusion detection systems, secure portal systems, telephone, video network
systems, network solutions and electronic monitoring. EPS has grown to 230 employees with offices
located in Tinton Falls, N.J.; Fairfax, Va.; Fayetteville, N.C.; Augusta, Ga.; and Mannheim, Germany.
EPS provides sales of ISOTEC-designed products through several Government contract vehicles. They
presently hold a General Services Administration (GSA) wire and cable services (WACS) contract, which
has a ceiling of $2.6 billion, also a basic ordering agreement (BOA) with a contract ceiling of $320
million. There are several other contracts and GSA Schedules in which to apply ISOTEC products.
"The establishment of this business relationship with a major government system integrator and GSA
contractor," according to ISOTEC president Jim Alexander, "will provide immediate access to several
hard-to-access government marketplaces."
Contact: Investor Relations, ISOTEC, 800-760-1166
Safe Harbor For Forward-Looking Statements: Except for historical information contained herein, the
statements in this release are forward- looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties, which may cause a company's actual results in the future
periods to differ materially from forecasted results. These risks and uncertainties include, among other
things, product price volatility, product demand, market competition and risk inherent in the companies
operations. You can identify these statements by the fact that they do not relate strictly to historical or
current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan,"
"feel," "think," "hear," "guess," "believe," and other words and terms of similar meaning in connection
with any discussion of future operating or financial performance.
SOURCE World Am Communications
/CONTACT: Investor Relations, ISOTEC, 800-760-1166/
(WLDC)
WORLD-AM
COMMUNICATIONS INC -
WLDC
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as of
05/24/00 15:30 PM EDT |
