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TAVA Technologies Expert on Year 2000 for Utilities Testifies Before Congress
June 4, 1998 08:04 AM
ENGLEWOOD, Co., June 4 /PRNewswire/ -- On May 14 Rick Cowles of TAVA TAVA /R.W. Beck L.L.C. testified before the U.S. House of Representatives Committee on Science's Subcommittee on Technology. His invitation to present to the subcommittee was the result of growing government, business and manufacturers concerns about the electric power industry's response to the Year 2000, or Y2K, computer problem.
Simply stated, the Y2K problem pertains to the potential for a system to experience date related problems caused by computer programs and microprocessors that use a two-digit field to signify the year. If critical programs at the automation and process control level (e.g., a power plant's instruments and controls) fail by misreading "00" as the year 1900 rather than as the actual year, for example, the result may cause plant shutdowns. After a shut-down, the problem may also complicate recovery efforts with the loss of emergency data collection.
Cowles told the subcommittee that "only 60 to 70 percent [of the nearly 8,000 entities in the electric power industry in the United States] are fully aware of the magnitude of the Y2K issue and are marshaling the necessary resources to address the issue." Cowles' many years of experience in the electric utility industry gives him reason to be cautiously optimistic, but points to the tremendous energy that will be expended simply in verifying Y2K compliance to various regulatory agencies. The Nuclear Energy Commission for example, has given operators of nuclear power plants a deadline of August 8,1998, to send the NRC a written response about their Y2K compliance plans, specifically in the areas of risk management, contingency planning and remediation of embedded systems. The full text of Cowles' testimony can be found on-line at: house.gov.
Statements made in this Press Release that are not historical or current facts are "forward looking statements" made pursuant to the safe harbor provisions of federal securities laws. Forward-looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected. Such factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs and failure to capitalize upon access of new clientele. Specific risks and uncertainties which may affect forward-looking statements about the Company's Plant Y2K One(TM) business and prospects include the possibility that a competitor will develop a more comprehensive or less expensive Y2K solution, failure to meet increased staff requirements, and delays in market awareness of TAVA and its product and service solutions. These factors and others are discussed in the "Management's Discussion and Analysis" section of the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 1997, to which reference should be made.
SOURCE TAVA Technologies, Inc.
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