Service Systems Receives Company Valuation
SERVICE SYSTEMS INTERNATIONAL LTD.
OTCBB: SVSY
May 12, 1999
SERVICE SYSTEMS RECEIVES COMPANY VALUATION
VANCOUVER, BC, CANADA - Service Systems International, Ltd. (OTC/BB: SVSY) today announced that it has received a $42,303,558 valuation from Stern Valuations of Flushing, NY, for the Company and it's state of the art patented technologies. The valuation was premised on the Discounted Cash Flow methodology and based upon forecasts and information provided by management. The valuation was also based upon certain assumptions, including, among others, weighted average cost of capital, terminal growth rate, corporate tax rate, present value of terminal value, and revenue growth until August of 2003, as well as the obtaining of necessary financing.
"We were pleased with this valuation information, which reflects the potential of our company in the competitive, growing wastewater treatment industry," said Ken Fielding, Service Systems' president. "We believe we have the most advanced UV wastewater treatment technology available today, and we are working diligently toward making the assumptions upon which the valuation is based a reality."
Service Systems International, Ltd. through its subsidiary UV Systems Technologies Inc., manufactures and markets UltraGuard™, 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 foreword-looking statements regarding future events or the future financial performance of the company, and are subject to a number of risks and other factors which could cause the actual results to differ materially from those contained in the foreword-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 SEC.
Contact: Investor Relations: 1-888-516-7766 or 1-800-542-8091
E-mail: rrc@rrcomm.com
www.servicesystems.com and www.ultraguard.com
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