Southborough, Mass. - February 2, 2004 -ViryaNet (NasdaqSC: VRYA), a leading provider of integrated mobile and Web-based software applications for workforce management and the automation of field service delivery, today announced that Vectren Corporation, an energy and applied technology holding company, headquartered in Evansville, Indiana, has chosen ViryaNet Service Hub for Utilities to optimize the scheduling of its field service organization. Vectren's energy
delivery subsidiaries provide gas and/or electricity to over one million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's gas distribution group provides gas to over 967,000 customers while the electric group services over 134,000 customers.
Under the terms of the contract, Vectren purchased the software license and professional services from a ViryaNet strategic partner. Vectren intends to use ViryaNet Service Hub for Utilities to complement its existing suite of applications, and expects to improve customer satisfaction and derive significant operational efficiencies through increased automation. ViryaNet Service Scheduler, an advanced algorithmic optimizer and integral component of Service Hub for Utilities, will schedule
approximately 300 Vectren field service technicians across eight regions, delivering a range of services that include meter "turn-on" and "turn-off" services, credit and collections, asset management, and more. ViryaNet Service Scheduler will optimally schedule these resources based on location, skill sets, work to be done, and other Vectren business requirements. "Vectren selected ViryaNet because of its robust functionality that yields bottom-line impact,"
stated Rick Schach, Vice President of Energy Delivery, Vectren Corporation. "ViryaNet will support our current and future requirements. Vectren's project team includes key members of our field force to help ensure this product enhances what Vectren field employees do best - serve our customers." "In addition, the ViryaNet suite of solutions, including ViryaNet Service Scheduler, integrates with and complements our GE PowerOn Outage Management System and GE Smallworld
GIS," stated Dan Bugher, Vice President of Information Technology, Vectren Corporation. "Further, we recognized the full capability of ViryaNet Service Hub for Utilities, including its Service Intelligence, Service Workflow, and Integration Server. The fact that this system is web based supports our plans for disseminating information throughout our organization." "Vectren is a visionary organization that shares our commitment to improving operational excellence through
automation," stated Win Burke, president and CEO, ViryaNet. "We're very happy to welcome another utility customer into the ViryaNet family. This new ViryaNet customer is a testament to the successes within our partner network. Our partners' market presence and systems integration capabilities combined with the world-class ViryaNet product is an unbeatable combination."
About Vectren
Vectren Corporation is an energy and applied technology holding company headquartered in Evansville, Indiana. Vectren's energy delivery subsidiaries provide gas and/or electricity to over one million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's non-regulated subsidiaries and affiliates currently offer energy-related products and services to customers throughout the surrounding region. These services include
energy marketing; coal mining; utility infrastructure services; and broadband communication services. To learn more about Vectren, visit
www.vectren.com.
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 improve workforce scheduling, dispatching, and activity reporting; customer contract and entitlement automation; and asset,
logistics, and depot repair management.
Customers in the utility, telecommunications, grocery and retail, high-technology manufacturing, HVAC, and other industries use ViryaNet Service Hub to transition complex service business processes into a manageable, scalable Internet operation, with the goal of increasing service revenues, decreasing service costs, and maximizing customer satisfaction.
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 including integration of other businesses, its future business prospects, its future financial performance, its future cash position, and its future prospects for profitability. All forward-looking statements included in this document are based upon information available to ViryaNet Ltd. as of the date hereof, and ViryaNet Ltd. 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 financial condition of the company's customers, 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 20-F, dated July 15, 2003, 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.
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