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.08 x .11 today Vertica Software's EMS Could Help Fill Growing Demand for Comprehensive, Easy-To-Use Electronic Environmental Compliance Solutions AUSTIN, Texas--(BUSINESS WIRE)--May 23, 2002-- EPA PROMOTES ENVIRONMENTAL MANAGEMENT SYSTEMS Vertica Software Inc. (OTCBB:VERI), an innovator in Web-based solutions for environmental compliance with hazardous materials and waste comments today on an official position statement issued by Christie Whitman, Administrator for the Environmental Protection Agency (EPS), concerning the implementation of Environmental Management Systems (EMS). Vertica has spent years developing what it believes will become the preeminent Environmental Compliance/Environmental Management System. The EPA's official statement promotes broader use of EMS systems, similar to the solutions produced by Vertica Software. The agency recognizes EMS as effective management tools to help companies and other organizations fulfill their environmental responsibilities. "The EPA has long been a strong supporter of EMS programs, as have similar governmental agencies throughout the world," says William Mason, President and CEO of Vertica Software, Inc. "This comes as no surprise to the forward looking team at Vertica. As the EPA and governments of other developed nations push for regulations that encourage or even mandate electronic environmental compliance reporting, the demand for functional, easy-to-use programs like ours that also have the potential to save the users time and money should grow exponentially." In the latest EPA statement, Ms. Whitman states that "The use of EMS complements needed regulatory controls and enables a facility to comprehensively manage the environmental footprint of its entire operation... An EMS is viewed as a valuable tool for accomplishing the EPA's mission, because they apply a multi-media approach, help facilities assure compliance, and promote cost savings, operational efficiency and improved supplier performance." The EPA plans to lead this push by example, implementing EMS in its own facilities and operations, while encouraging widespread use of EMS across other institutions and organizations. The Agency is also working with state and local governments to promote EMS and has said that it will support training and research on the costs and benefits of the systems. In anticipation of changes in the regulatory arena, Vertica's management has spent the last few months restructuring the company from a research and development organization to one that will now focus primarily on aggressively marketing its new line of compliance programs. The company's research and reports from agencies such as the U.S. Department of Transportation (DOT) show that the potential market for products like those developed by Vertica is huge and extremely widespread. Vertica's Hazweb Environmental Management System solutions (see www.hazweb.com) are web-based and instantly installable and scaleable for all transportation related warehousing, inventory identification, shipping, and tracking; including ready response and crisis communication, for more than 2,000 hazardous materials and waste by-products. Hazweb's in-place hazardous waste and materials solutions and counter-measures are immediately available and cost effective. Vertica believes that a very significant percentage of the companies that move hazardous materials on a regular basis could reduce their compliance costs and overall risks by utilizing its tracking and compliance solutions. About Vertica Vertica Software produces Hazweb with iComply(TM) regulatory compliance solutions and Web enabling technologies for the hazardous materials and hazardous waste industries. The company targets a wide variety of companies and organization with its products, including oil gas, chemical, petrochemical, hazardous waste, transportation and governmental agencies and municipal bodies. For product information, please visit the company's website at www.vertica.com, which is tied to its environmental web portal, www.hazweb.com. Hazweb was designed to serve the needs of companies and individuals that produce, use, process, transport or dispose of all types hazardous materials. The site provides news, information and application services that help address the environmental concerns hazardous materials professionals. "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release which are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with uncertainty of future financial results, additional financing requirements, development of new products, marketing success, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties in the Companies' filings with the Securities and Exchange Commission. The inclusion of such information should not be regarded as a representation by the company or any other person that the objectives and plans of the company will be achieved. The Company cautions potential investors not to place undue reliance on any such forward-looking statements. CONTACT: Vertica Software, Inc. William Mason, 512/322-3900 SOURCE: Vertica Software, Inc. | ||||||||||||||
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