Southborough, Mass. - August 25, 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 its partner, Aspective, has signed an agreement with a new customer in the United Kingdom that calls for the deployment of ViryaNet Service Hub Mobile Workforce Management.
Aspective is ViryaNet's prime European partner. Aspective markets, sells, and supports ViryaNet Service Hub in the United Kingdom and continental Europe.
Aspective's customer, a major communications company, and unnamed for confidentiality and competitive purposes, will use ViryaNet Service Hub to optimize the scheduling of its field resources; dispatch them to the right place, at the right time, with the right information and parts; ensure that service levels are met; improve field reporting; and assist in the preparation of upcoming activities. Through its deployment of ViryaNet Service Hub, the customer also expects to improve
field staff efficiencies through automation of best practice processes.
"This competitive win further underlines the close relationship we have with ViryaNet and the outstanding functionality and performance of the Service Hub application suite," said Javaid Aziz, CEO, Aspective.
"Aspective continues to deliver significant benefits to its customers through the implementation of Service Hub," said Paul V. Brooks, president and CEO, ViryaNet. "We are delighted when our partners and their customers succeed in achieving their business objectives."
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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