SVR.L Regulatory News (SVR)

19 Oct 2005 06:05

SERVICEPOWER TECHNOLOGIES PLC ("SERVICEPOWER" OR THE "COMPANY") Award of Contracts ServicePower, the recognised market leader in artificial intelligence based,field service scheduling solutions and computer services, today announced ithas signed two new SERVICEPower software contracts worth in total more than ‚£1million.A contract has been signed with a major insurance company to schedule the workof their 450 loss adjustors across the US. The cost of insurance claims isrising rapidly and our client is working to minimise increases in the renewalcost of insurance policies. One way for insurers to minimise costs is by usingSERVICEPower to increase the efficiency of their loss adjusters by reducingboth travel and non-productive time. This is the model ServicePower verysuccessfully developed with another of our clients in the insurance sector.A second contract has been signed with Elisa Corporation, the second largesttelecoms company in Finland. This follows a recent partnership agreement withRossum Oy which will provide local support to SERVICEPower in the Finnishmarket. Elisa will use SERVICEPower to schedule 400 technicians who install andservice ADSL high speed internet access in homes and businesses throughoutFinland.These software contracts take the ServicePower Group's (being both the softwareand FSS divisions) contracted and committed total revenue for 2005 to over ‚£8.0million.David Brisco, CEO of ServicePower, commented:"We are delighted to have won these two software contracts. Our strategy offocusing on industry verticals, especially insurance, has been rewarded and ouruse of partners to expand software sales outside our traditional markets isproving successful, both in the USA and in Europe.With our new Field Service Solutions business also growing quickly we arerapidly becoming a major force in the Field Service market."Note: ServicePower refers to the company and SERVICEPower refers to theproduct.October 19th, 2005----------------------------------------------------------------------------------------------------------Contacts:David Brisco, Chief Executive Officer Tel: 0161 476 2277Barry Welck, Non-executive Chairman Tel: 07831 396539ServicePower Technologies PLCMichael Brennan Tel: 020 7071 4300Evolution Securities LimitedTom Moriarty / Archie Berens Tel: 020 7651 8688 / 07802 442486ICIS LimitedENDSERVICEPOWER TECHNOLOGIES PLC