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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion

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To: SOROS who wrote (13361)12/7/1998 11:24:00 AM
From: Risky Business  Read Replies (2) of 13949
 
State of Geneva, Switzerland, has awarded ALYD a contract to provide Year 2000 remediation services. Working with its Swiss Business Partner ETV Software Engineering on the assignment, Alydaar will help test and fix various components of the government's software infrastructure.

The State of Geneva (http://www.geneve.ch) is one of the largest Cantons in Switzerland and has in excess of 30 million lines of computer code to remediate. The allocated budget for the Y2K projects is CHF 30,000,000 (approximately US$20,000,000).

''I am excited that the State of Geneva has selected the Alydaar solution to attack its Year 2000 bug,'' said Robert Gruder, Chief Executive Officer of Alydaar. ''This is a significant piece of business for Alydaar, representing a major contribution from a valued business partnership. I am confident that this announcement will be one of many within the region in both the public and private sectors.''

ETV Software Engineering is one of Alydaar's authorized distributors in Europe and acts as a representative of Alydaar in Switzerland. For the State of Geneva project, ETV Software Engineering will acts as the project manager on behalf of Alydaar, for all of the testing and remediation work.

''We chose to work with Alydaar in the Year 2000 marketplace because of the industry-leading qualities of their SmartCode solution -- speed, quality and cost-effectiveness,'' said Gerald C. Levine, Managing Director of ETV Software Engineering. ''We look forward to working with them on this and future contracts.''

Monsieur Claude Convers, Year 2000 co-ordinator for the State of Geneva stated, ''The Year 2000 is approaching very fast -- without 100% compliant systems we will not be able to transition into the millenium. Given our array of code and systems, we needed a Year 2000 solution that would be fast and simple to implement. The Alydaar solution provides a great degree of flexibility and simplicity.''

About Alydaar Software Corporation

Alydaar Software Corporation is a software re-engineering company, specializing in computer language translation and systems migration services. Its central focus for the past two years has been resolving the Year 2000 problem. Using SmartCode, its core re-engineering technology, Alydaar remediates or audits most computer languages on most hardware platforms. Alydaar's clients include: Advanced Micro Devices (AMD) Northern States Power (NSP), 3M (MMM), Nabisco (NA), DuPont (DD), Whirlpool (WHR), RJ Reynolds (RJR), and McDonnell-Douglas (MD), among others. Alydaar also provides remediation services under a strategic alliance agreement with Compuware Corporation (CPWR). More information about Alydaar Software Corporation and its services can be found on the World Wide Web at alydaar.com.

SOURCE: Alydaar Software Corporation
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