Subj: MVSI Subsidiary Signs Contract to be the Official and Exclusive Computer Company
Date: 97-11-11 15:43:40 EST
From: AOL News
BCC: Tiric
VIENNA, Va., Nov. 11 /PRNewswire/ -- MVSI, Inc. (Nasdaq: MVSI) announced
today that its subsidiary, Socrates Computer Systems, Inc. ("Socrates"), has
entered into a formal contract with Washington Sports & Entertainment, Inc.
("WSE") to be the official and exclusive computer company supporting WSE, MCI
Center, the US Airways Arena, the Washington Wizards and the Washington
Capitals for the next 3 years. The contract calls for Socrates to provide
substantial amounts of computer hardware, computer training and computer
support services to WSE and MCI Center employees. WSE is the general partner
of the new mega sports and entertainment MCI Center in downtown Washington,
D.C., and the owner of the Washington Wizards NBA Professional Basketball Team
and the Washington Capitals NHL Professional Hockey Team. Both teams will
play their future games at the new MCI Center beginning with the grand opening
of the MCI Center on December 2, 1997.
The contract between Socrates and WSE will provide Socrates with extensive
and continuing visibility for its technology products and services to the
viewing audiences at MCI Center, and the US Airways Arena, as well the
publications and shows produced by WSE for television, cable, and radio.
Edward Ratkovich, Chairman, CEO and President of MVSI, and A. Fathi,
President and CEO of Socrates, both stated, "We are very pleased to be
associated with WSE and its new MCI Center, which clearly is contributing to
the appearance that the District of Columbia is gaining momentum towards
becoming a world-class, 24-hour metropolis. One need only look at the
construction activity and development opportunities surrounding the MCI Center
to come to this conclusion. It is our intention to work closely with WSE and
provide them with latest technology in computer hardware and training as
required by a sate-of the-art multimedia sports and entertainment complex in
the nation's capital."
"We are extremely excited about our partnership with Socrates," said Susan
O'Malley, President of Washington Sports & Entertainment. "With MCI Center
being the most technologically advanced sports and entertainment complex in
the world, Socrates provides MCI Center and Washington Sports & Entertainment
with a level of excellence in computer hardware, service and training which
matches the performance of this great arena."
The contract with WSE comes just three months after the previously
announced arrangement between Socrates and Newport News Shipbuilding, Inc.
("NNS") for the provision of computer systems and services to NNS.
MVSI manufactures and integrates machine vision systems for robotics,
semiconductor and other industries, integrates and markets brand name
proprietary and generic high-end computer system products, and support
services, provides technology training and performs computer software
engineering and development for systems applications, including implementing
solutions for the Year 2000 conversion.
Except for historical information herein, certain matters discussed in
this release include forward-looking statements that may involve a number of
risks and uncertainties, which projections and statements are made pursuant to
the "Safe Harbor" provisions of the Private Securities Litigation Reform Act
of 1995.
For additional information on MVSI, Inc. or Socrates, please contact the
company at its principal executive offices at 8133 Leesburg Pike, Suite 750,
Vienna, Virginia 22182, telephone 703-356-5353 and facsimile 703-356-5354.
MVSI, Inc.'s Web site is located at mvsiinc.com.
SOURCE MVSI, Inc.
CO: MVSI, Inc.; Socrates Computer Systems, Inc.; Washington Sports &
Entertainment, Inc.
ST: District of Columbia
IN: CPR
SU: CON |
