To: Alski who wrote (30144 ) 6/25/1999 3:09:00 PM From: GARY P GROBBEL Respond to of 79479
Ref msg 30143 and ULTX this out a short time ago...stock around .40... Ultrexx Corporation Announces Successful Completion of Beta-Testing Phase of Marina Management Software Suite Developed for Washington Ports Consortium SEATTLE--(BUSINESS WIRE)--June 25, 1999--Ultrexx Corporation (OTC BB:ULTX) today announced the successful completion of the Beta-testing Phase of its new Marina Management Software Suite, developed jointly with a consortium of six ports in Washington State pursuant to a contract signed in December 1998 with the ports' consortium. This complete integrated Client-Server solution, based on Windows NT (Microsoft Corporation: (Nasdaq:MSFT - news)) server, was designed to meet the specific user needs of the ports, including the Port of Anacortes, Port of Bellingham, Port of Edmonds, Port of Everett, Port of Grays Harbor and Port of Port Angeles. The ports are all located in the state of Washington, four on the Puget Sound, one on the Strait of Juan de Fuca and one on the Pacific Ocean. Marina size ranges from 400 to 2050 slips. The marinas offer permanent moorage, transient moorage and a range of services, including haul out and yard storage. In accordance with the terms of the contract, Ultrexx Corporation will own the product rights to this Software and is free to market it worldwide. This program is unique in that it has been specifically developed in close co-operation with the Ports to meet the real needs of actual users -- the only Marina Management Program designed by marinas for marinas. The Ports have agreed to actively support marketing of the software to other marinas/ports, in exchange for a royalty on sales. ''This has been a significant achievement for Ultrexx,'' said Muralidhara Keshavamurthy, Ultrexx' Director-Technology Development. ''It has been an invaluable experience for the Ultrexx development team.'' ''The future revenue implications of this product are substantial,'' said Manohar Prabhu, Ultrexx CEO. ''Strategically, this software enables entry to a market with high-growth potential -- Ports, transportation and logistics.'' The potential market for this unique software suite includes over 25000 marinas worldwide. Key financial and strategic implications of the product include: 1. The basic suite can be sold at a price of at least $20,000 - $25,000 per Marina. Most major marinas are attached to Ports. Additional fees from installation, customization, training and maintenance services can amount to at least $10,000 per client. 2. The potential for upgrading the existing product and developing similar products (e.g. web-enabling ) is tremendous. 3. This will be the only product of its kind endorsed by six major Ports and actively promoted by these Ports. 4. Sale of this software to Marinas/Ports worldwide will provide an invaluable gateway to a client-base with enormous potential in the field of logistics and transportation. Most modern ports now have large Information Technology budgets and are moving rapidly to upgrade or replace legacy IT systems with modern, 21st century systems. 5. Several Marinas/Ports have already expressed their interest in the software. Ultrexx Corporation is grateful for the extremely professional and knowledgeable co-operation provided by all the ports, in particular, the co-ordinating port, Port of Everett, in accomplishing this project. Founded in 1991, Ultrexx is a publicly held corporation based in Seattle. Since 1996, Ultrexx has been developing ''Rapid Application Development Tools'' for knowledge-based development and distribution over the Internet, Intranet and other networks. Ultrexx Corporation's product suite includes CruXpert 2.0(TM), Visual CruXpert(TM) and Knowledge Banner(TM). Crux Inc. is a wholly owned subsidiary of Ultrexx Corporation. Ultrexx Corporation also provides software development and knowledge engineering services through its offices in Seattle and Bangalore, India. Forward-looking statements in this release are made pursuant to the ''safe harbor'' provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made by Ultrexx Corporation are not a guarantee of future performance. Contact: Venture-Catalyst.com Sanjay Sabnani, 310/399-4059 E-mail: sanjay@venture-catalyst.com