SVR.L Regulatory News (SVR)

4 Sep 2007 07:00

4th September 2007 SERVICEPOWER TECHNOLOGIES PLC ("ServicePower" or the "Company") Award of Contract

ServicePower , the innovative supplier of outsourcing solutions and software to the mobile repair and installations industry, is delighted to announce the award of a significant contract by one of the largest insurance companies in the US. The contract for SERVICEPower optimisation software is worth more than ‚£2.2 million in software licence and implementation fees. For each year of the contract, it is anticipated that the Company will receive more than ‚£180,000 in annual software support and maintenance. This is the largest software licence contract to be awarded to the Company to date.

ServicePower will provide its full suite of SERVICEPower optimisation products, with the software being provided under a one-time perpetual licence. The customer will use the solution to more efficiently and effectively manage the work loads of its several thousand loss adjustors across the US. A pilot project produced a significant improvement in customer satisfaction statistics and received positive feedback from both the insurance company's customers and loss adjustors. The implementation of the pilot project was able to be carried out in a significantly shorter timescale than the industry norm due to ServicePower's ability to run it on the Software as a Service platform.

"Deploying the full suite of ServicePower's service chain optimization solution will enable our customer to efficiently manage their entire claims operation and deliver on its promises to customers," commented David Brisco, CEO of ServicePower. "Our suite of products is now being employed by five of the leading insurance firms in the U.S. In addition, several of the smaller companies across the U.S. and Europe are using our technology through the SaaS solution. This has been an exceptional year of growth for ServicePower and with our products gaining momentum in the market we are confident of a successful outcome to the year and continued growth in 2008."

ENDS

Note: ServicePower refers to the company and SERVICEPower refers to the product.

For further enquiries please contact:

David Brisco, Chief Executive Officer Tel: 0161 476 2277

Barry Welck, Non-executive Chairman Tel: 07831 396539

ServicePower Technologies PLC

Bobbie Hilliam Tel: 020 7071 4300

Evolution Securities Limited

Tom Moriarty, Caroline Evans-Jones Tel: 020 7651 8688

ICIS Limited

About ServicePower

ServicePower, publicly traded on the London Stock Exchange , allows companies to locate their employed field resources in the right geography, ensure they have the right mix of skills, and outside this geography create a network of independent, authorized service contractors whose costs are efficiently managed by our sophisticated warranty management software. The schedules and routes for both the employed field resources and the independent servicers are optimised by ServicePower's technology to ensure the right balance between the cost of operations and ensuring customers receive a superior service experience.