Alliance Extends ViryaNet's Professional Services Team, and Expands the Company's Presence in the Communications and Financial Services Sectors
Southborough, Mass. - January 22, 2002 - ViryaNet (NASDAQ: VRYA), a leading provider of wireless and Web-based software applications that improve service delivery, today announced a strategic partnership with ProLink Services of northern Virginia and Atlanta, Georgia. Under the terms of the relationship, ProLink Services will act as a value added reseller and systems integrator, deploying ViryaNet's service offerings to organizations in the communications and financial
services sectors.
"ProLink Services is a solutions integration organization with vast subject matter expertise in the industries that they serve," stated Win Burke, president and CEO, ViryaNet. "Their understanding of these sectors, the respect they have earned among key contacts, and their capacity to bring projects to completion will help ViryaNet further its leadership role in the marketplace."
"ViryaNet's platform and application software will enable our clients to quickly transition their complex business processes into manageable, scalable Internet operations, with goals of increasing efficiency, quality of service, customer satisfaction, retention, and profitability," stated Bonnie Rishell, president and CEO, ProLink Services. "This is exactly the type of collaborative
enterprise solution our customers in the communications and financial services marketplaces are seeking."
About ViryaNet
ViryaNet is a provider of software applications that improve the quality and efficiency of an organization's service operations. ViryaNet's flagship product - the award-winning ViryaNet Service Hub - combines the power of the Internet, the freedom of wireless technologies, and the resources of ViryaNet's deep service expertise to help companies automate workforce scheduling, dispatching, and
activity reporting; service contract and customer entitlement management; and spare parts inventory, logistics, and assets management.
Customers in the telecommunications, manufacturing, utilities, third-party maintenance, consumer goods, grocery and retail, and other industries use ViryaNet Service Hub to transition complex service business processes into manageable, scalable Internet operations, with the goal of increasing service revenues, decreasing service costs, and maximizing customer satisfaction.
For additional information about ViryaNet and its solutions, visit the Company's website at
www.viryanet.com.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding ViryaNet's expectations, beliefs, intentions, or strategies regarding the capabilities of its
products, its relationships with its customers, its customer purchases, its future operational plans and objectives, its future business prospects, its future financial performance, and its future prospects for profitability. All forward-looking statements included in this document are based upon information available to ViryaNet Inc. as of the date hereof, and ViryaNet Inc. assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and
uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to ViryaNet's business include market acceptance of and demand for the Company's products, risks associated with a slow-down in the economy, risks associated with the events associated with the September 11, 2001 terror attacks in the US, risks associated with competition and competitive pricing pressures, risks associated with increases in costs and operating
expenses, risks in technology development and commercialization, the risk of operating losses, risks in product development, risks associated with international sales, and other risks that are set forth in ViryaNet's Form F-1, as amended, declared effective by the SEC on September 19, 2000, and the other reports filed from time to time with the Securities and Exchange Commission. Reported results should not be considered an indication of future performance. You should not place undue
reliance on these forward-looking statements, which speak only as the date hereof. ViryaNet disclaims any obligation to publicly update or revise any such forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.