NEWS: Service Systems Principals Meet With New York Investment Bankers
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 7, 1999--In response to the demands of its shareholders for information regarding the recent increase in trading volume and rapid rise in the value of SVSY shares, Service Systems International Ltd. (OTC BB:SVSY) management wishes to provide the following information.
The principal officers of Service Systems met with investment bankers in New York during the week of April 25, 1999. The purpose of these visits was to showcase the company's state-of-the-art UV technology as a precursor to the establishment of a relationship.
As the company's investment bankers, these firms would secure equity and/or debt financing to facilitate market share capture, enhance shareholder value and position Service Systems' advanced UltraGuard(TM) UV technology to meet the rapidly growing global need for economical and reliable disinfection equipment for the disinfection of water and wastewater.
Senior investment personnel of the investment banking concerns were impressed with documentation provided, demonstrating that the UltraGuard(TM) system can provide water and wastewater disinfection at approximately 12 percent of hydro energy cost and overall operating and maintenance (O & M) costs of about 30 to 40 percent of competing UV disinfection systems.
Recent publications have projected that by the year 2000, worldwide expenditures on water and wastewater treatment will exceed US$500 billion per year. Service Systems' bid inquiry book currently lists over US$130 million in projects with additional inquiries increasing dramatically when compared with the quarter ended February 28, 1999.
This increase is due partly to the recognized savings in hydro energy and other O & M costs and as well, water and wastewater facility operators' overall acceptance of ultraviolet as the disinfection medium of choice.
Service Systems International Ltd., through its subsidiary UV Systems, manufactures and markets UltraGuard(TM), a state-of-the-art, patented ultraviolet (UV) disinfection system for municipal liquid waste, process and industrial water, potable and other water resources.
Certain of the foregoing information are forward-looking statements regarding future events or the future financial performance of the company, and are subject to a number of risks and other factors that could cause the actual results to differ materially from those contained in the forward-looking statements. Among such factors are: general business and economic conditions; customer acceptance of and demand for the company's products; the company's overall ability to design, test, and introduce new and improved products on a timely basis; regulatory constraints; and the risk factors listed from time to time in documents filed by the company with the Securities and Exchange Commission.
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CONTACT:
Service Systems International, Vancouver
Investor Relations
Steve Stakiw, 888/516-7766 or 800/542-8091
e-mail: rrc@rrcomm.com
www.servicesystems.com
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