relax!!!!!!!!
will open $4.75-5.00 will be a good day.
esday February 23, 8:01 am Eastern Time
Company Press Release
SOURCE: Top Image Systems, Ltd.
Deutsche Post Selects TiS to Provide Form
Processing Solution
TEL AVIV, Israel, Feb. 23 /PRNewswire/ -- TiS -- Top Image Systems, Ltd., (Nasdaq: TISAF - news,
TISWF - news) announced today that it has been selected to provide its award winning automated form
processing solution for the Deutsche Post Verification Project. Pursuant to the agreement, TiS will
provide the Deutsche Post with its high volume Automated Form Processing System, AFPSPro, to
process address verification forms for nearly the entire population of Germany (estimated 61 million
people).
The Deutsche Post estimates that the Verification Project will require the processing of approximately up
to 1 million forms per day, a total of 36 million forms. The project is expected to begin in March, 1999,
and will constitute one of the largest volume forms processing projects ever carried out in the world.
Mr. Thomas Vogt, Managing Director of Deutsche Post, said, ''We chose TiS' AFPSPro primarily due to
its high level of recognition accuracy and minimal percentage of substitution rates. Moreover, the
AFPSPro has a uniquely efficient mode for the completion of unrecognized characters. We are pleased to
have found a committed partner in TiS, and we believe this project will be a great success.''
Mr. Izhak Nakar, CEO and Chairman of the Board of TiS stated: ''We were very impressed with the
Deutsche Post production site set-up for processing millions of forms on an ongoing basis. This project
illustrates the great potential within the German form processing market. The success of our first bid with
the German Government is tantamount to tremendous opportunity for penetration of the German market,
which is an important strategic market for TiS.''
TiS - Top Image Systems, Ltd., develops and markets form processing, information recognition and data
entry software, systems and technologies. The Company's software minimizes the need for manual
data-entry by automatically reading and processing the information contained in forms, increasing data
capture accuracy and the rate of information processing. TiS' award-winning AFPSPro software provides
a complete, cost-effective, reliable solution for mid to high-volume production form processing. For more
information on TiS, you can visit the Company's Web Site at tis.co.il.
Certain matters discussed in this news release are forward-looking statements that involve a number of
risks and uncertainties including, but not limited to, risks in product development plans and schedules,
rapid technological change, changes and delays in product approval and introduction, customer acceptance
of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales
cycle, proprietary rights of the Company and its competitors, risk of operations in Israel, government
regulation, dependence on third parties to manufacture products, general economic conditions and other
risk factors detailed in the Company's United States Securities and Exchange Commission filings. |
