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Forecross Signs $455,000.00 Legacy Migration Contract SAN FRANCISCO --(Business Wire)-- July 28, 2004 -- Forecross(R) Corporation, a legacy-to-web and XML implementation solutions company announced today that it has signed a new contract with a premier information technology services company for the conversion of certain CA-IDMS applications to IBM's DB2. Forecross will perform the migration as a sub-contractor for the benefit of an agency of non-U.S. government. The project is currently estimated to take four to six months to complete, and has a total fixed value of $455,070."Our customer has asked us to perform a demonstration project. Under this contract, we will convert a small discrete portion of a very large, critical business system so that the customer can evaluate the process and results. The customer intends to use this information to better plan and conduct the larger migration effort. We believe that the subsequent project, which has not yet been awarded, may ultimately involve a multi-million dollar migration effort. We look forward to a long and mutually beneficial relationship with our new customer," said Bernadette C. Castello, Senior Vice President and CFO, Forecross Corporation. Founded in 1982 as a high-technology software development laboratory, Forecross Corporation is dedicated to the design and development of innovative conversion software to re-deploy and sustain legacy applications on the Internet. Clients have included such leading corporations as Aetna Life Insurance Company, Brown Brothers Harriman & Company, Charles Schwab & Co., the University of California at San Diego, BDM Technologies, Inc., IBM Corporation and Bank of America NTSA for its migration software services. Teaming partners of Forecross Corporation include U.S. Technology Resources, Inc., CIBER, Inc. and SCB Computer Technology, Inc. Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the company's accounting policies and other risk factors detailed in the Company's SEC and BCSC filings. The U.S. Securities and Exchange Commission has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release, which has been prepared by the Company. Forecross is a registered trademark of Forecross Corporation. |
