Southborough, Mass. - May 17, 2005 -ViryaNet (NasdaqSC: VRYA), a leading provider of integrated mobile and Web-based software applications for workforce management and field service delivery, today announced that Australian energy company Integral Energy has selected ViryaNet Service Scheduler. Integral Energy is a New South Wales state-owned corporation, serving some of Australia's largest and fastest growing regional economies.
Integral Energy purchased the ViryaNet software licenses from GE, a ViryaNet strategic partner. Integral Energy intends to use ViryaNet Service Scheduler, integrated with GE PowerOn Outage Management System, to schedule and dispatch its field technicians who are responsible for repairing and restoring power outages. ViryaNet Service Scheduler, an advanced algorithmic optimizer and primary component of Service Hub for Utilities, will schedule Integral Energy emergency field service
technicians across multiple regions, dispatching these resources based on location, skill sets, work to be done, and other business requirements.
"Integral Energy is a visionary organization that shares our commitment to improving operational excellence through automation," stated Paul V. Brooks, President and CEO, ViryaNet. "We're very happy to welcome another utility customer into the ViryaNet family. ViryaNet's partner strategy continues to broaden our world-wide reach, which now includes Australia. Our partners' market presence and systems integration capabilities combined with the world-class
ViryaNet product is an unbeatable combination in any region of the globe."
About Integral Energy
Integral Energy is a state-owned energy corporation in New South Wales, serving some of Australia's largest and fastest growing regional economies.
Integral Energy operates in the National Electricity Market, retailing energy and providing metering and data services to industrial and commercial customers. It also distributes and retails electricity and value added services to more than 820,000 customers, or 2.1 million people, in households and businesses across a network franchise spanning 24,500 square kilometres in Sydney's Greater West, the Illawarra, Blue Mountains and the Southern Highlands.
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 — 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 repairs management.
Customers in the utility, telecommunications, grocery and retail, 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. Visit ViryaNet 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, 2005, 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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