Press Release 2.6.1999
SOURCE: EuroSoft Corporation
EuroSoft Corporation's Subsidiary, DO IT - Development International, Announces Year 2000 Contract With Global Shipping Company
NORTH PALM BEACH, Fla., June 2 /PRNewswire/ - EuroSoft Corporation (OTC Bulletin Board: ERST - news) is pleased to announce today that its wholly owned Finnish subsidiary, Do-it Development International OY, has been awarded a Year 2000 contract by a Kuwaiti-based shipping company known to be one of the largest shipping companies in the region. Under the terms of the agreement, Do-it Development Intl. will provide Y2K testing, impact analysis and consulting services for select ships out of the shipper's global fleet of 56 sea-faring vessels. Utilizing a three-prong roll-out program, Do-it Development International has already mobilized a team to specific ships as located at various ports of Kuwait and the Gulf States. As prevalent in the Y2K industry, this prominent shipping company has requested that its identity remain undisclosed at this time.
Mr. Kari Sarvanto, CEO of Do-it Development Intl., stated, "Shipping is not immune to the Y2K problem. In fact, not many people realize the extent to which technology now runs the world's fleet of ships. Depending on the severity of a Y2K breakdown, disruptions within this vital transportation sector could cause enormous financial ramifications to shipping companies, and quite possibly the entire world. In essence, there are hundreds of on-board embedded microprocessors in a ship that are subject to potential Y2K failure. In many cases, just one critical device has the power to disable an entire vessel. From this basis, with offices and a fleet spanning the globe, this well-known shipping company - jointly owned by the Gulf States - has high exposure to Y2K. We are excited to have been awarded such a high responsibility out of a very respected field of competing companies. Our extensive background and previous experience in the embedded chip segment was certainly a deciding factor. As we move forward, we believe a successful completion of this high-profile client reference could prove rewarding to our future business. In fact, we have just begun negotiations with two major national oil companies in the Middle East region. Today's contract provides us marketing leverage for attracting such new business in the Gulf." About EuroSoft Corporation: Based in North America and Western Europe, EuroSoft Corporation is a US publicly traded company that provides critical information solutions consisting of products and services that enable companies to improve and maintain their information technology systems as they evolve. Through its subsidiaries, the Company employs a comprehensive suite of software tools, methodologies and processes designed to cost-effectively automate software maintenance tasks and address what are known as "mass change" software modification initiatives such as Year 2000 and Euro dollar conversion. United States-based Sicor, Inc; Germany-based NewSoft Gmbh; Finland-based Do-it International; and Northern Ireland-based Millennium Three Solutions are all wholly owned subsidiaries of Florida-based EuroSoft Corporation.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties, and events that may be beyond the control of EuroSoft Corporation and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain, and successfully complete projects, the availability of technical personnel, changes in technology, and competition. For purposes of disclosure, the Company has received assistance in the drafting of this news release by the Company's shareholder relations agent, who receives three-thousand dollars on a month-to-month basis for providing such shareholder relations services.