ZMAX Makes Announcement
ZMAX Corp. Expands International Presence Into Asia and Enlists Former President of Lockheed Martin Overseas Corp. to Assist International Efforts
GERMANTOWN, Md.--(BUSINESS WIRE)--Aug. 28, 1998--ZMAX CORP. (Nasdaq Small Cap: ZMAX - news) announced Friday that its wholly owned subsidiary Century Services Inc. (''CSI'') has taken steps to establish a presence in Taiwan and Korea as it advances the company's international marketing strategy.
The Company also announced that it has retained the services of William E. Benso, former President, Lockheed Martin Overseas Corp., to assist in the further development and implementation of the company's international marketing plans.
CSI has hired representatives in Taiwan to further develop the Company's current relationships with the Government of Taiwan and commercial enterprises in Taiwan.
Michael C. Higgins, President and CEO, remarked, ''CSI and its management has had a long history of working with several organizations in Taiwan. This move is an exciting opportunity and a natural first step in implementing our international marketing strategy.''
CSI has also opened a branch office in Korea. As stated in the May 18th issue of the Choong-Ang Daily, ''Korea is now in the second stage of the five stages involved in the process of finding a solution to the (Y2K) problem, with the U.S., the U.K., Australia, Canada, etc. in the fourth stage. Most developing countries in the Southeast Asian region are in the first or second stage of the process.''
Michael C. Higgins, President and CEO, stated, ''Korea and South East Asia offer an exciting opportunity for CSI to leverage its Y2K knowledge and gain a beachhead throughout this region.''
William E. Benso, former President of Lockheed Martin Overseas Corp., has joined the company as a consultant. Michael C. Higgins, President and CEO, remarked, ''Bill Benso brings a wealth of knowledge and experience to our team.
''His international experience will assist the company in achieving our global market aspirations to strategically position CSI as an international IT services company well into the 21st Century.''
ZMAX Corp. is an IT consulting and re-engineering company focusing presently on system re-engineering and IT consulting services relating to Y2K analysis and remediation, system testing, project management, independent validation and verification of IT systems and processes, as well as other IT related services.
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 risk 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 business and prospects include the possibility that a competitor will develop a more comprehensive or less expensive service or solution to the Company's services or products and delays in the market awareness of ZMAX and its product and service solutions. These factors and others are discussed in the ''Management Discussion and Analysis'' section of the Company's Annual Report on Form 10K for the fiscal year ended December 31, 1997, to which reference should be made.
ZMAX CORP. is quoted on the NASDAQ Small Cap exchange under the
symbol of ''ZMAX'' and on the Frankfurt and Berlin Stock
Exchanges under the symbol of ''ZMX''
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