TPII *** Y2K NEWS ***** Related QuotesTPII
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delayed 20 mins - disclaimerFriday February 19, 11:02 am Eastern Time
Company Press Release
Transformation Processing Launches CD Toolkit for Self-assessment of
Embedded System Y2K Risks
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Feb. 19, 1999--Transformation
Processing, Inc. (OTCBB: TPII - news) announced today that the company
has begun marketing its streamlined embedded system Y2K compliance self
assessment CD, called Embedded/2000 Kit, to government entities and
businesses globally.
Paul Mighton, the company's Chief Executive Officer, said, ''We have
streamlined the process of mapping embedded systems found in public and
private organizations, identifying data problems and managing the flow
of information with suppliers of embedded systems. This technique has
been packaged into our Embedded/2000 Kit.''
Mighton said that the sale of the kit, plus the engineering and
consulting services that Transformation Processing will be asked to also
provide to kit purchasers in most cases, should average about CDN$20,000
per customer. The company expects to earn several million dollars
through the sale of the kit and services it will provide.
By purchasing the kit, which alone, without services, will cost about
CDN$5,000, will save customers about 10 times that amount if they had to
hire consultants to do the assessment work, Mighton said.
The self-assessment kit, Embedded/2000, presents state-of-the-art
information, methodology and automation for the management of
inventories of embedded systems, assessment of business impact, problem
resolution, legal considerations and planning for contingencies. The
end-product of adopting TPI's proven methodology is to be able to
quickly report millennium readiness status to municipal councils and
other governing bodies, enabling them to adopt effective
counter-measures for detected problems. The included automation
components provide methods for collecting and maintaining inventories of
embedded systems, assessing compliance in an organized way, and aid in
the process of obtaining embedded system vendor statements of Year 2000
compliance. TPI will optionally assess inventories gathered by users,
and will further assist by providing vendor compliance statements upon
request.
Transformation Processing Inc. develops and markets services and
software that enables organizations worldwide to assess and repair their
Year 2000 problems. TPI also provides solutions for the migration of
software applications and data from legacy systems to Open Systems, and
customer relationship management, asset management and knowledge
management solutions.
This news release includes forward-looking statements that involve risks
and uncertainties, including the timely development and acceptance of
new products, the impact of competitive products and pricing, the timely
funding of customers' projects, customer payments to the company and
other risks detailed from time to time by the company in the reports
filed with the U.S. Securities and Exchange Commission.
For more information about Transformation Processing Inc. please call
888-222-5967. TPI's World Wide Web address is (URL) tpii.com.
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Contact:
MARTIN E. JANIS & COMPANY
Hal Schweig 312-943-1100 |
