Southborough, MA - August 14, 2008 - ViryaNet Limited (OTC BB: VRYAE), a leading provider of software applications that optimize business processes for field service management, today announced that a major northwest US gas and electric utility has selected the ViryaNet product to schedule, route, and manage its workforce of field technicians.
This major utility provides services to customers in multiple states in the US northwest, and recently has grown by acquiring several utility companies that complement its core business.
Under the terms of the contract, this company licensed the ViryaNet product to schedule, unify, and manage its workforce of over 300 field technicians in a single scheduling and exception-based management solution. These technicians perform a wide range of customer-facing work, including meter reads and appliance repairs.
For this company, field technicians will wirelessly access the full breadth of the ViryaNet solution on truck-mounted laptops to deliver enhanced service to customers. Among other benefits, the ViryaNet product will provide more accurate estimations of appointment times, increase staff productivity, and assist in unifying the company's entire service operation as the company continues to grow.
The ViryaNet product is a holistic, integrated, and customer-focused solution for field service management that consists of several solution components, including work order management, scheduling and dispatch functionality, workflow, mobility, real-time monitoring capabilities, a full suite of business intelligence tools, and powerful integration capabilities. The solution's value is the agility it has to manage business process exceptions, in addition to the routine processes that are
experienced by most companies.
About ViryaNet
ViryaNet provides packaged industry solutions that intelligently guide, automate, and optimize both simple and complex field service work, resulting in operational excellence. ViryaNet's solutions specialize in the functions of scheduling and dispatching resources and enabling mobile field communication. Embedding industry best practices and utilizing a powerful workflow engine, web architecture, and visibility suite, the ViryaNet solutions allow companies to outperform their competition,
better the customer experience, improve financial performance, and address regulatory compliance. ViryaNet possesses a 20-year history in the field service space, a vast number of customers across a variety of industries, and strong partnerships with leading platform and system integration companies. Headquartered in Southborough, MA, ViryaNet enjoys a worldwide presence with offices and customers located in North America, Europe, and the Pacific Rim. For more information, visit
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 August 29, 2007, 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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