Precision Systems announces significant sale of network-based software to Telecom Italia

Business Wire, June 19, 1996

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--June 19, 1996--Precision Systems Inc. (NASDAQ:PSYS; BSE:PNS) Wednesday announced that it has received an order for 20 service nodes from Telecom Italia.

The order comes through Urmet, Vicorp Italia's prime contractor/partner. Vicorp Italia is Precision Systems' wholly owned Italian subsidiary.

The service nodes will be used to provide network-based enhanced services including specialized calling, voice messaging, and computer/telephony connectivity to allow customers to use interactive voice response to interact with computer databases. The initial contract is valued at approximately L7.7 billion Italian Lire, or approximately US $5 million, and is the direct result of Vicorp Italia's success in implementing Telecom Italia's prepaid calling card solution late last year.

Wido Strasding, Vicorp's general manager for Southern Europe, said: "We are always pleased to be of service to our customers. We are very optimistic that our technological achievements will lead to greater market stature and the chance for the provision of additional enhanced services for Telecom Italia, as well as more business opportunities for Vicorp Italia. Telecom Italia has been, and continues to be, one of our key customers."

According to the terms of the agreement, additional interactive applications will be built for Telecom Italia on the Precision Systems platform by In.Fi.Tel, an Urmet sub-contractor.

Michael T. Felix, Precision Systems' senior vice president for Strategic Planning and Partner Relations, added: "We are delighted by the overwhelming vote of confidence which Telecom Italia has continued to place in us, and are as excited about our relationship with Urmet and In.Fi.Tel. By providing software solutions which include our own as well as others' interactive applications, we continue to further the business model which positions our software platforms as the solution of choice for many of the world's largest and most aggressive telecommunications companies. This is a prime example of our Third Party Developers' Program in action."

Urmet, based in Turin and Rome and with offices worldwide, is Telecom Italia's main supplier of telephone hardware. The two companies have had a relationship which dates from 1937.

Precision Systems Inc. is an innovation-driven designer, developer, and deliverer of network-based software and services which wireless and wireline communications providers use to be first-to-market with revenue-generating enhanced communications solutions. The company supports more than 300 customers in more than 35 countries around the world directly and through channel partners and a network of global distributors.

CONTACT: Precision Systems Inc., St. Petersburg

Michael T. Felix, Senior Vice President

813/572-9300, ext. 3207