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Technology Stocks : Information Architects (IARC): E-Commerce & EIP

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To: Jeffrey S. Mitchell who wrote (3110)	10/28/1997 12:23:00 PM
From: DD™	Read Replies (1) of 10786

$$$$$ Contract News $$$$$$$$$ Bankgirocentralen BGC AB Awards Alydaar and ChaseAlydaar a YEAR 2000 Contract PR Newswire, Tuesday, October 28, 1997 at 12:05 STOCKHOLM, Sweden, Oct. 28 /PRNewswire/ -- Bankgirocentralen BGC AB has decided to make its mainframe IT-System Year 2000 compliant with use of technology services from ChaseALYDAAR Sweden AB. The contract calls for ChaseAlydaar to project manage the BGC account and for its alliance partner, Alydaar Software (OTC-Bulletin Board: ALYD) to remediate million lines of UNISYS and IBM code utilizing Alydaar Corporation's SmartCode(TM) Technology. The Year 2000 problem arises from computer programs written in the 1970s and 1980s that read only the last two digits in a year. The 00 reading for 2000 would cause an error in some programs or could be interpreted as "1900." The world-wide cost to all businesses to repair the Year 2000 problem is estimated to be in excess of $600 billion. Stefan Hilmersson. ChaseALYDAAR's CEO stated "The Year 2000 team at BGC has a solid understanding of what the consequences can be in their IT-Systems. We are glad that they have chosen ChaseALYDAAR and Alydaar for their Year 2000 effort to assure that their IT-Systems for handling large flow of payments and to assist them with this significant effort." Gunnar Bergholtz, Bankgirocentralens VP Production, stated, "We manage well over $ 1 billion per day of cashflow for companies and banks in Sweden. We can not tolerate our IT-System to fail in any way and after thoroughly evaluating and testing several Year 2000 firms BGC has chosen ChaseALYDAAR and Alydaar to secure and remediate our IT-Systems in good time before year 2000." Robert Gruder, Alydaar's CEO, stated, "I am quite pleased by BGC's decision to select ChaseAlydaar and the Alydaar SmartCode technology to assist them with their Year 2000 project. This project helps confirm that ChaseAlydaar and Alydaar are the Year 2000 leaders within the Nordic region and throughout Europe." ChaseAlydaar Technology Sweden AB is Alydaar Software Corporations representative in the Nordic market. Bankgirocentralen BGC AB is located in Stockholm, Sweden and is owned by Swedish banks. Bankgirocentralen gives services to 23 Swedish banks with its Bankgiro payment system.

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