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Company Press Release
DSSI Subsidiary, Comverge Technologies to provide
two-way meter reading and research services in Bangkok
MAHWAH, N.J.--(BUSINESS WIRE)--Jan. 5, 1999--Data Systems & Software Inc. (Nasdaq:DSSI - news) today announced that its
subsidiary Comverge Technologies, Inc. has signed an exclusive agreement with International Engineering Public Co. LTD (IEC), a
trading and engineering concern in Thailand, to provide meter reading systems and load research services to the Metropolitan
Electricity Authority (MEA) - the sole provider of electric power in Bangkok, Thailand.
The agreement brings together Comverge's expertise in Automated Meter Reading (AMR) and data management with IEC's project
management and engineering capabilities. The agreement resulted from Comverge's competitive bid against other leading AMR
providers. The city of Bangkok has over 1.9 million meters. In order to meet the requirements of the Bangkok project, Comverge will
integrate the technology of its sister company PowerCom.
The contract calls for an initial deployment of 1225 metering units to cover a representative sample of the MEA's customer base.
Comverge and IEC will collaborate to provide the MEA with the metering units, communications systems and software to analyze
patterns of energy utilization among the initial sample of customers. The companies will then submit to the MEA a proposal for a
full-scale deployment of AMR solutions throughout Bangkok.
Comverge and IEC have also agreed to maintain an exclusive business arrangement for any future business in Thailand emanating from
the MEA project. This includes potential business with the Provincial Electricity Authority (PEA) the sole electric utility for all of
Thailand excluding Bangkok. Thailand has a population of over 65 million people.
''We are very pleased about our contract with IEC,'' said Frank Magnotti, President of Comverge. ''We see the agreement not only as a
point of entry into a fertile market, but also as another sign that utility companies increasingly recognize the economic and competitive
value of automated meter reading, pattern of usage analysis, and the ability to control demand through a real-time two-way system.''
''We decided to partner with Comverge after a thorough review of competing technologies,'' said K. Kampanath of IEC. ''We are
encouraged by Comverge's technology platform and expertise, and we are confident that our collaboration will be successful.''
''What I find particularly gratifying about the agreement is that it demonstrates the positive impact of internal collaboration and
successful integration between Comverge and PowerCom,'' said George Morgenstern, Chairman, President and CEO of DSSI.
The International Engineering Public Co., Ltd. (IEC), has been in the trading and engineering business in the Kingdom of Thailand for
over 75 years. Today, IEC focuses its business on three major areas: Mobile Phone business, Air Time Provider business, and Engineering
business with strategic partners from around the globe such as Nokia from Finland, Kubota from Japan, and Cutler-Hammer from U.S.A.
With professional management team and extensive sales and marketing network throughout the country, the company is continuously
seeking opportunities to introduce new products and technologies to Thailand's growing markets. For more information, please visit
IEC's website at www.iec.co.th
Comverge Technologies, a subsidiary of Data Systems and Software Inc. operates globally as a provider of end-to-end, two-way
communication solutions for energy-related data, home automation, environmental monitoring and distributed generation monitoring. Its
open-architecture solutions work with a variety of wide-area networks including CDPD, cable TV, telephone and personal
communication services (PCS). Comverge has deployed systems in the United States, Venezuela, Argentina, Israel and Mexico.
Comverge's US-based operations are headquartered in Florham Park, NJ. International operations are based in Israel. For additional
information, please visit Comverge's website at www.comverge-tech.com
This press release includes forward-looking statements which are subject to risks and uncertainties, including risks associated with
implementing the terms of the contract for IEC and MEA. Actual results may vary from those projected or implied by forward-looking
statements. A more complete discussion of risks and uncertainties, which may affect the accuracy of these statements and the company's
business generally, is included in ''Business-Factors Which May Affect Future Results'' in DSSI's most recent annual report on form
10-K as filed by DSSI with the Securities and Exchange Commission. |
