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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Nanda who wrote (10609)	4/2/1998 9:49:00 AM
From: Tech Master	Respond to of 13949

ALYD PRESS RELEASE Thursday April 2, 9:06 am Eastern Time Company Press Release SOURCE: Alydaar Software Corporation United Guaranty Awards Alydaar Year 2000 Contract CHARLOTTE, N.C., April 2 /PRNewswire/ -- United Guaranty has awarded Alydaar Software Corporation (Nasdaq: ALYD - news) a contract for Year 2000 remediation services. The contract calls for Alydaar to provide programming services, including use of its SmartCode reengineering technology, to bring United Guaranty's computer programs into compliance with Year 2000 requirements. ''The Year 2000 team at United Guaranty has an excellent Year 2000 strategy in place and I am delighted they have chosen Alydaar to assist them with this significant effort,'' said Robert Gruder, Alydaar's CEO. ''In addition, we are extremely pleased that the SmartCode technology is proving itself as an automated solution for remediation of RPG, as well as other non-Cobol languages.'' According to Keith Bendt, AVP System Development at United Guaranty, ''United Guaranty's goal is to have all code compliant by September 1998, and Alydaar and SmartCode are important components in meeting that goal.'' Computer programs written in the 1970s and 1980s typically read only the last two digits in a year. If not re-engineered, many programs would either interpret the ''00'' reading for the year 2000 as ''1900'' or show an error. The estimated world-wide market to repair and re-engineer programming for the Year 2000 is estimated to be in excess of $600 billion. Alydaar Software Corporation is a software re-engineering company that specializes in providing services to resolve the Year 2000 problem, as well as computer language translation and systems migration services. Using SmartCode, its core re-engineering technology, Alydaar can automatically remediate most computer languages on most hardware platforms. Alydaar has offices throughout North America and Europe. Subsidiaries of Greensboro, NC-based United Guaranty Corporation writes mortgage guaranty insurance that protects residential mortgage lenders and investors against losses caused by borrower default on first and second mortgage loans. Mortgage insurance provided by Triple-A-rated United Guaranty Residential Insurance Company (UGRIC) enable home buyers to purchase homes with low down payments, expanding home affordability for Americans in all income ranges. All United Guaranty media releases may be viewed on the company's web site at www.ugcorp.com. SOURCE: Alydaar Software Corporation ------------------------------------------------------------------------