Southborough, Mass. - April 7, 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 an agreement with Power Automation, a Singapore-based company that provides solutions to support the operational and business needs of electric utilities in Asia. Power Automation is a joint venture company between Singapore Power and Siemens.
Power Automation will act as a value added reseller (VAR) of ViryaNet solutions. As such, Power Automation will market, sell, deploy, and support the ViryaNet solutions in several industries in the Asia / Pacific markets. The terms of the agreement, signed in March 2004, included an initial purchase by Power Automation of ViryaNet software licenses.
In addition, Power Automation is assisting with the implementation of ViryaNet's Wireless Workforce Management solution at SP Services, a subsidiary of Singapore Power.
"We are pleased to be promoting ViryaNet solutions in the Asian market," stated Eng Kiat Chan, managing director, Power Automation. "ViryaNet offers a richly functional product that matches the business needs of companies in the utility and other sectors in which we work."
"Power Automation is a well known and respected company in the utilities sector," stated Samuel HaCohen, founder and executive chairman, ViryaNet. "We are happy to be partnering with such an esteemed organization."
About Power Automation
With its team of experienced, expert end-users and highly skilled technical staff, Power Automation has a unique ability to understand, recognize and respond to both the operational and business needs of electric utilities in Asia. Backed by the Siemens global research organization, Power Automation is well positioned to market, develop, implement and deliver innovative solutions for power system control and substation automation systems.
Power Automation is equipped with a portfolio of leading-edge utility automation solutions based on industry standards and open-systems technology. They include Supervisory Control and Data Acquisition (SCADA) systems, Energy Management Systems (EMS), Distribution Automation / Distribution Management Systems (DA/DMS), Substation Automation Systems (SAS), including Intelligent Electronic Devices (IEDs) such as numerical protection relays and intelligent meters, and Remote Terminal Units
(RTUs)
Power Automation's utility automation solutions include also Power Quality Monitoring System, Automated Meter Reading and Energy Management System and solutions.
Power Automation builds and installs these computing environments on a turnkey basis i.e. typical projects would involve activities ranging from custom designing & engineering integration to training, factory acceptance testing, commissioning and support.
From its strategic location in Singapore, Power Automation is able to provide prompt and effective support to customers throughout the region.
With more than 15 years of implementation in Singapore Power's SCADA/DMS system, the strong partnership between the key appointment holders at Power Automation, who were formerly from Singapore Power and the systems developers at Siemens, has led to a number of successful collaborations on projects that eventually brought about highly effective innovations such as On-line Expert System (ES), RTU communications over power cable shield, Integration of Automated Mapping (AM)/Facilities
Management (FM) systems to SCADA/DMS systems, and Windows based dynamic wall-board display systems
For more information about Power Automation, visit its web site at
http://www.pa.com.sg
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.
For more information about ViryaNet, visit its web site 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 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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