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

To: paul e thomas who wrote (13340)	12/1/1998 3:41:00 PM
From: P. Ramamoorthy	Read Replies (2) \| Respond to of 13949

biz.yahoo.com Tuesday December 1, 1:29 pm Eastern Time Company Press Release Crystal Systems Solutions and Ernst and Young Spain Awarded Euro Conversion Project HERZLIA, Israel--(BUSINESS WIRE)--Dec. 1, 1998--Crystal Systems Solutions Ltd. (NASDAQ: CRYSF - news), together with Ernst & Young Spain, announced today that Plus-Ultra, a large Madrid-based insurance company, has awarded Ernst & Young Spain a Euro-conversion project that will utilize Crystal Systems Solutions' C-EURO conversion product. Crystal will implement its Single to Dual Euro-conversion approach to convert current, local-currency applications to enable dual currency applications. This Euro-conversion project will involve the conversion of several thousand COBOL programs. Ernst & Young Spain is a long-time partner of Crystal Systems Solutions. Based on the prior success of other conversion projects, such as Y2K, Ernst & Young Spain has determined that Crystal's C-EURO product's features are very well suited to serve the needs of its growing customer base. Crystal continues to expand upon its partner relationships and evolve its business and product offerings to meet new conversion challenges. ''Crystal has always taken pride in its ability to assess and determine the future needs of the market, and to develop suitable tools for those conversion tasks. Our approach has always been to identify new opportunities, allowing us to specifically address and manage various conversions efficiently,'' said Amiram Mel, CEO of Crystal Systems Solutions. C-EURO can manage all three approaches to Euro-conversion, Big Bang, On-going and Single to Dual. C-EURO provides a comprehensive solution that automates the conversion of all components of the application, including source code, copybooks, JCL, utility parameter statements, files, and databases. C-EURO can also generate control statements for a Change Management product used at the site. The high degree of automation and extensive control, management, and reporting facilities provided by C-EURO simplifies and shortens the conversion process, while reducing the risks usually associated with large projects of this type. Furthermore, the product reduces the possibility of human errors which are difficult to detect and correct, minimizes the code freeze times required for deployment, and allows other support activities to continue while the conversion project is in progress. At the same time, intervention by the conversion team is possible at all stages of the process, thus enabling support for special situations and client requests that must be dealt with on a daily basis. Crystal Systems Solutions has recently announced a new C-EURO based service called ''Euro Rapid-Assessment''. This service will provide, in a very short period of time, valuable information which the business analyst or customer can use in order to quantify the overall euro project in terms of the projects scope, currency-suspected fields, Euro-conversion strategy to be implemented, resource requirements, etc. Crystal Systems Solutions Ltd. is a member of the Formula Group (NASDAQ: FORTY - news), which is the largest public information technology group in Israel. Crystal provides software tools and services that perform complex conversion projects for mainframe systems. Crystal's tools and conversion methodologies are designed for application changes such as Year 2000, Euro currency conversion, field expansion as well as technological changes such as platform migration or language upgrades. ''Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: Certain of the statements contained in this press release may be deemed forward-looking statements. Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could cause actual plans to differ materially from these statements and other matters are marketing risks, risks of competition, technological obsolescence and the risks and other factors detailed, from time to time, in the Company's reports with the U.S. Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: Crystal System Solutions Iris Yahal Chief Financial Officer 972-9-952-6110 or Morgen-Walke Associates, Inc. Investor Relations Contact: Donna N.Stein/Rich Schineller (212) 850-5600 Press Contact: Ann Travers/Richard Dukas Morgen-Walke Associates, Inc. (212) 850-5600