Tuesday December 1, 9:23 am Eastern Time
Company Press Release
Phoenix International to Deliver the Phoenix System On Microsoft SQL Server 7
ORLANDO, Fla.--(BUSINESS WIRE)--Dec. 1, 1998--Phoenix International Ltd., Inc. (Nasdaq/NM:PHXX - news) a world leader in installed client/server retail banking management solutions, today announced the upcoming release of the Microsoft® SQL Server 7™ version of the Phoenix System. The Microsoft-Phoenix partnership was formed in early 1997 to jointly deliver ''best of breed'' software systems, and is an integral part of Phoenix's long term corporate strategy to provide and support high quality financial solutions on a global scale. In the final stages of testing, Phoenix's new release will undergo a full series of quality assurance testing on the production build of Microsoft SQL Server 7 as well as some last-minute performance tuning and benchmarking initiatives at Phoenix's headquarters in Orlando, Florida. The Company plans to release the Phoenix System on the new platform during the first quarter of 1999 or within 90 days of the general availability of Microsoft's SQL Server 7 release.
Microsoft SQL Server is a high performance relational database management system that runs on the Microsoft® Windows NT® Server operating system. This system is designed to help leverage a financial institution's technology investment by offering the capability to deliver line-of business solutions on industry standard network infrastructures. Users derive significant operational benefits due to price-performance levels that are superior to traditional, more costly database solutions. In addition, Microsoft SQL Server 7 introduces several key new features to the Microsoft database product that enhance financial services software, including greater scalability and performance. The combination of Phoenix's client/server software and the Microsoft SQL Server allows financial institutions to take full advantage of new and emerging technologies including the myriad of opportunities available through the Internet.
Commenting on the new offering, Danny Baker, senior vice president of research & development for Phoenix, commented, ''The pairing of SQL 7 and Phoenix represents a major step forward in terms of functionality and performance for our clients. We have been working with Microsoft since the early stages of the beta program for SQL 7 and have been carefully testing our products on the latest release candidates prior to general availability. We took great advantage of Microsoft's SQL 7 porting lab in Redmond, Washington to find areas where we could enhance our performance and use many of the new features that are now available.
''This partnership provides Phoenix with new opportunities to enhance our applications in important areas such as tighter integration with Windows NT and forthcoming technologies like Windows 2000's Active Directory. Microsoft SQL 7 also provides us with the technical infrastructure we need to stay competitive in the financial industry and will further enhance Phoenix's leadership position in delivering one of the most technologically advanced solutions to clients worldwide,'' Baker concluded.
''Phoenix's strength in core processing matched with Microsoft SQL Server 7's great features, price and performance will be a formidable option for financial institutions,'' said Mike Dusche, financial services industry marketing manager for Microsoft. ''We look forward to the release of the Microsoft SQL Server 7 version of the Phoenix System. We are pleased that Phoenix has been participating as one of the founding members of the Microsoft Windows® Distributed interNet Applications architecture for Financial Services (''Microsoft Windows DNAfs'') Advisory Board and that they have made such a strong commitment to the standard and to Microsoft products in general.''
Phoenix International Ltd., Inc., headquartered in Orlando, Florida, is a leading provider of highly adaptable, enterprise-wide client/server application software to the financial services industry worldwide. The Company's products include the Phoenix System, a fully integrated client/server retail banking system that includes customer relationship information management, on-line customer profitability analysis, financial reporting, an executive information management system and fully integrated teller, telephone, ATM and Internet banking modules; Phoenix TradeWind™, a trade finance system; and Phoenix TradeCentre, a global payments system. As a full service provider, Phoenix offers clients a full complement of professional and systems integration services.
This press release contains statements which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or expectations of the Company and its management with respect to, among other things: (i) the anticipated impact of certain events and circumstances; (ii) trends affecting the Company's financial condition or results of operations; and (iii) the Company's growth strategy and operating strategy. Phoenix's actual results may vary significantly from the results anticipated in these forward-looking statements as a result of various risks, assumptions and certain factors. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company's ability to continue and manage growth; reliance on significant new customers; fluctuations in quarterly results; dependence on new products; competition and other factors that are discussed in detail in Phoenix's filings with the Securities and Exchange Commission, including the ''Risk Factors'' section in Phoenix's Registration Statement on Form S-1 (Registration No. 333-31415), as declared effective by the Securities and Exchange Commission on August 13, 1997. |
