Oriole Systems Inc OK here's one update to chew on ...
Oriole sells intranet software to large U.S. multinational
Oriole Systems Inc OOL
Shares issued 20,740,597 Jan 5 close $0.34
Wed 6 Jan 99 News Release
Mr. Al Gerenser reports,
GTE Internetworking of Cambridge, Mass., a division of GTE Corporation
(GTE-NYSE), one of the largest telecommunications companies in the world,
has ordered the NCompass Labs Resolution TM product from DYAD Systems Inc.,
a wholly-owned subsidiary of Oriole Systems Inc.
Oriole and its subsidiaries specialize in enterprise-wide software. As a
development partner of IBM's San Francisco Project, Oriole has been
converting all of its software for the intranet/Internet environment. Al
Gerenser, President of Oriole, believes that the future for enterprise-wide
software lies with web-based technologies such as Resolution and that IBM's
SanFrancisco strategy will take it "first to market".
GTE Internetworking's parent GTE Corporation provides local telephone and
wireless services in 29 states and long-distance service and Internet
access in all 50 states. GTE provides government and defense communications
systems and equipment, aircraft passenger telecommunications and
directories and telecommunication based directory services. The company has
a market capitalization of $61 billion.
NCompass Labs is a private company start-up funded in part by Intel, Royal
Bank Capital Corp., Venture West and the Walden Fund. The Resolution
product is a state-of-the-art visual authoring and web content management
system.
The first installation of Resolution will be used on web servers nationwide
to create and maintain multiple web sites for one of GTE Internetworking's
largest clients.
According to Frank Stama, V.P. of Oriole Systems, "We expect that this will
be the first of a series of orders that will implement this technology
within GTE Internetworking. This could be a very substantial monetary
relationship."
For further information, please contact Marie Antoinette Shields
(Market/Finance Development) at 604-681-6186. For inquiries of a technical
nature, please contact Frank Stama at 1-603-472-4828 or contact Robert A.
Young and Associates (corporate development consultants) at 1-800-433-8381.
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the accuracy of this news release.
This news release may contain forward looking statements considered genuine
by the author and are based upon the author's experience and knowledge.
However, the outcome will ultimately be determined by forces of which the
author may have little or no ability to affect. Any forward looking
statements should not be considered guarantees of results.
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