To: bob who wrote (8465 ) 12/19/1997 8:12:00 PM From: BM Respond to of 13949
Cognicase contracts with Bombardier, ManuLife & Otis Elevator DECEMBER 19, 1997 Bombardier, Manulife and Otis Elevator Have Awarded Additional Important Year 2000 Software Compliance Contracts to COGNICASE MONTREAL, QUEBEC--COGNICASE Inc. announced today that, as a preferred supplier of Year 2000 software compliance solutions to Bombardier Transportation, Manulife and Otis Elevator, it has been awarded Year 2000 renovation contracts for an approximate total value of $2,000,000. COGNICASE plans to complete the majority of the work associated with these projects in Q1 1998 at its highly productive conversion factory facilities in Montreal. COGNICASE is proud to have been chosen by these major corporations to perform the Year 2000 renovation of their mission critical systems. These contracts have been awarded based on prior assessment assignments performed by COGNICASE for these corporations. "This demonstrates that our customers have endorsed the quality of the COGNICASE highly automated Year 2000 assessments. The assessments have provided our customers with the results required to make appropriate decisions regarding the Year 2000 challenge" said Ronald Brisebois, President and C.E.O. of COGNICASE. Bombardier Transportation is the leading supplier of passenger rail transportation equipment North America and the fourth in the world. "COGNICASE was the prominent choice for the Bombardier Transport Group due to its reliable and responsive solution for our specific technology platforms" said Suzanne Lebeau, IT Director at Bombardier Transportation. Manulife, the largest life insurance company in Canada, relies on its computer systems in all aspects of its operations. COGNICASE has provided Manulife with flexible and reliable Year 2000 conversion strategies adapted to its critical and complex systems. Otis, the world's largest elevator company, with over 50,000 employees, is headquartered in the United States. Otis selected COGNICASE because for "the superiority of COGNICASE's Year 2000 readiness solutions in terms of reliability, timeliness and cost- effectiveness" said Henry Bydlak, Director of Information Systems for Otis North American Area. The problem known as the Year 2000 challenge affects every company using computers. It occurs because numerous computer applications keep only the last two digits of the year in dates (1997 is seen as 97). In year 2000, year will go as "00", which may cause wrong answers or even system crashes. COGNICASE is a leading provider of automated software maintenance and platform migration solutions. COGNICASE provides solutions that enable organizations to convert their computer systems in response to a change or expected change in the business or technical environment in which the systems operate, or to migrate their computer systems to newer hardware platforms. On October 2, 1997, the Company successfully closed its IPO for gross proceeds of US$ 44.3 million. COGNICASE with its wholly owned subsidiary, Icotech Inc., an IT system integration and consulting firm, counts close to 600 employees in Canada and Europe. The Company's flagship product is COGNI-2000, a comprehensive, flexible software tool set released in 1994, aimed at solving the Year 2000 problem. COGNICASE completed its first automated end-to- end Year 2000 conversion in 1994 for a leading Canadian financial institution. To date, COGNICASE, together with its strategic partners, has completed more than 35 end-to-end Year 2000 software conversions and more than 100 additional Year 2000 assessments, for a total of more than 70 customers. disclaimer FOR FURTHER INFORMATION PLEASE CONTACT: COGNICASE Inc. Ronald Brisebois Chief Executive Officer brir@cognicase.ca cognicase.ca or COGNICASE Inc. Carl Simard Vice-President, Sale & Marketing simc@cognicase.ca cognicase.ca NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: COGNICASE INC. TSE SYMBOL: COG NASDAQ SYMBOL: COGIF