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

To: Risky Business who wrote (12399)	7/17/1998 7:37:00 AM
From: kfdkfd	Respond to of 13949

News CBSL Complete Business Solutions, Inc. -- CBSI --, Awarded Major Contract From Lifespan FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--July 17, 1998-- Complete Business Solutions, Inc., (NASDAQ:CBSL - news) announced Friday that it was awarded a major contract with Lifespan to perform Year 2000 analysis and validation testing for clinical, financial and patient management applications. Lifespan, based in Providence, R.I., manages five hospitals in Rhode Island. They also manage the Visiting Nurses Association (VNA), the state's largest home healthcare provider, Hospice Care and the New England Medical Center in Massachusetts. This project is expected to take more than a year to complete and revenues are expected to be approximately $2 million. ''We are upgrading our systems and must use extra caution in working with our hospital affiliates to make sure that all validation and compliance testing is done correctly in an efficient and timely manner,'' said Mike Izzo, director of Information Services Operations for Lifespan. ''CBSI has a rich history in healthcare management, providing integral IT service functions such as reporting, billing, claims processing and Year 2000 services. We are pleased to offer this expertise to Lifespan and look forward to proving our Partnership Sourcing approach in which we employ proven and innovative methodologies to deliver results,'' said Bob Genest, CBSI account manager. Lifespan is a non-profit organization made up of some of the best hospitals in Rhode Island and Massachusetts. Their mission is to improve the health status of the people in Rhode Island and New England through the provision of customer-friendly, geographically accessible, and high value services. Lifespan believes this can best be accomplished within the environment of a comprehensive, integrated, academic health system. CBSI is a worldwide provider of a broad range of information technology services to large and mid-size organizations, from advising clients on strategic technology plans to developing and implementing custom-tailored solutions. The company's services include: Year 2000 conversion and testing; large systems applications development and maintenance; re-engineering legacy applications to client/server; client/server applications development; consulting services; contract programming; internet/intranet solutions; and packaged software implementation. To learn more about CBSI, visit its website at cbsinc.com. Safe Harbor Provision With the exception of statements regarding historical matters and statements regarding the company's current status, certain matters discussed herein are forward-looking statements that involve substantial risks and uncertainties that could cause actual results to differ materially from targets or projected results. Such forward-looking statements regarding targets or projections may be identified by the use of the words ''anticipate,'' ''believe,'' ''estimate,'' ''expect,'' ''plan'' and similar expressions. Factors that could cause such differences include the recruitment and retention of IT professionals, government regulation of immigration, increasing significance and risks of non-U.S. operations, variability of operating results, decrease in demand for Year 2000 services, exposure to conditions in India, fixed-price projects, competition, management of growth, rapid technological change, risks related to mergers and acquisitions and potential liability to clients. -------------------------------------------------------------------------------- Contact: CBSI Kris Liebold, 248/848-2284 (kliebold@cbsinc.com) or Editorial Contact Tom Gibson, 216/881-9376 (tggibnet@en.com)