SVR.L Regulatory News (SVR)

7 Jun 2005 06:00

SERVICEPOWER TECHNOLOGIES PLC ("SERVICEPOWER" OR THE "COMPANY") Contract Award ServicePower, the recognised market leader in field service schedulingsolutions and computer services, today announced it has signed a contract witha major U.S. mobile communications company to provide software applications forsale to independent service companies across the U.S. The three year contract,which is automatically annually renewable thereafter, is to provide softwareapplications that will run on a third generation mobile phone. This representsa new business venture for ServicePower which will support the Field ServiceSolutions (FSS) business objectives.ServicePower will provide software applications that enable independentservicers to perform their jobs as efficiently as the large employed serviceteams of our traditional software customers. This increased efficiency willmake our sub-contractor servicer more profitable whilst delivering bettercustomer service and will ensure their long term commitment to being part ofthe ServicePower network of independent servicers. All the applications can beprovided immediately for integration either by ServicePower or our productpartners and will not require any additional resource from the Company. One ofour partners will provide both consultancy staff and $500,000 of workingcapital, indicating the commitment they have to the project." ServicePower will receive monthly fees invoiced as part of the monthly phonebill by the "air time provider" for managing the applications. The applicationswill initially be targeted at the 60,000 technicians in the ServicePowerindependent servicer network. This will rise quickly as the ServicePowernetwork expands. A more detailed explanation of the applications, services,monthly fees and partners will be issued following the formal launch in July2005.It is not possible at this stage to quantify the value of this agreement butthe directors believe this will have the same significant impact on theperformance of the Company as the FSS business. The market for businessapplications for third generation phones is huge and growing. The "air-timeprovider" is committed to developing more business opportunities for datatransmission over its mobile network in order to maximise the utilisation ofthe network capacity. The "airtime provider" will commit a significantmarketing budget to support the launch across the U.S."This new business opportunity represents a significant development of theBoard's strategy to become the leading provider of software and servicesolutions to manage the delivery and completion of service jobs throughindependent service companies. Our world-leading FSS solution is targeted atthe larger independent service companies that have some central IT functions.This agreement with a major "air-time provider" gives us the capability todeliver our applications cost effectively via the mobile phone of millions ofservice engineers in their trucks" commented David Brisco, CEO of ServicePower.Note: ServicePower refers to the company and SERVICEPower refers to theproduct.June 7th, 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 LimitedENDSERVICEPOWER TECHNOLOGIES PLC