Southborough, Mass. - March 15, 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 the addition of several senior sales executives to its North American team.
The Company has appointed industry veteran Jack Connors as vice president of sales, North America. Mr. Connors, who brings over 20 years of strategic sales and leadership experience to ViryaNet, will report to president and CEO, Win Burke. Mr. Connors oversees ViryaNet's direct sales and channel efforts across North America.
"Jack possesses a very strong background in all facets of sales, channel, and business development," stated Win Burke, CEO and president, ViryaNet. "He will prove instrumental in helping ViryaNet achieve its next level of growth, as we capitalize on our momentum and strategic alliances. We are very pleased to welcome a professional of his caliber to our senior management team."
"ViryaNet is poised for success, possessing the product capability to dramatically transform the service industry, and fundamentally changing how organizations deliver field service," said Jack Connors. "ViryaNet is well positioned to capitalize on the opportunities that exist within the marketplace, and I am pleased to be leading this sales organization and very talented sales staff, which has
helped the Company become a market share leader."
Prior to joining ViryaNet, Jack was the vice president of alliances and retail sales for Syncra Systems, where he managed key alliances and product, market, and sales strategies for retail solutions.
Reporting to Mr. Connors as the vice president of ViryaNet's utilities industry practice is James Morrow. Jim is a former sales executive at Axiom. Jim's team, located in Atlanta, GA, includes Jerry Cooley, former sales executive at MDSI, and Joe Tuggle, former sales executive at JD Edwards.
"I've been in the utilities industry for over 20 years," stated Jim Morrow. "My team and I have worked for many of ViryaNet competitors. I can state unequivocally that the ViryaNet product is the best offering available in the market today. ViryaNet Service Hub is the only product that is totally web enabled, scalable, and supportive of the full range of functionality required by utility
companies, including optimized scheduling and dispatch, storm management, asset management, and complete mobile field activity performance reporting. ViryaNet, as a company, currently is attracting the best sales people in the industry."
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 repair management.
Customers in the utility, telecommunications, grocery and retail, high-technology manufacturing, HVAC, and other service 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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