Schlumberger and Itron Industry Leaders Sign Distribution and License Agreements for Automatic Meter Reading Utility Solutions in Europe

Business Wire, Sept 11, 1998

PARIS--(BUSINESS WIRE)--Sept. 11, 1998--Schlumberger (NYSE:SLB), and Itron, Inc. (NASDAQ:ITRI), have signed two agreements in Europe for distribution and licensing of AMR products and technology.

"This is the first step of a more intensive collaboration with Itron in Europe, opening opportunities in the United States as well as in other countries," said Mario Galletto, president, Global Solutions Group, Schlumberger RMS.

Under the agreements, following the MOU in October 1997, Schlumberger and Itron will offer the utility industry in Europe RF and PLC AMR systems that will be compatible with both Schlumberger MAPS(R) technology, Itron software and system architecture. They will also have the possibility to develop new AMR products integrating their core communication technologies.

The distribution agreement provides that in Europe, Itron and Schlumberger cross distribute their AMR products based on RF and PLC technologies and benefit from the technical expertise of one another. Inaddition, the licensing agreement gives Schlumberger the option to exercise a license for product development, manufacturing and sale in the European market.

According to Galletto, "In Europe as in the rest of the world where the opening to a free competitive market is in process, the use of technology will be key for utilities and energy service companies. As a global solutions provider, our first priority is to offer our customers access to leading technology enabling them to obtain and use critical information."

According to Klaus Huschke, Itron vice president, international, "The Schlumberger European-wide presence and service reputation are unmatched and utilities around the globe view Itron and Schlumberger as world-class suppliers. By combining the resources and product lines of these two industry leaders, we can now offer European utility customers unmatched choices of AMR solutions and technology as they face the challenges of operating in a deregulation atmosphere."

"This agreement is an illustration of the Schlumberger commitment to provide its customers with the best technologies integrated with a turn-key meter and data management solution. The alliance will allow us to market high-value, multi-media AMR solutions on a large scale in Europe," said Herve Schwartz, solutions marketing manager, Schlumberger RMS.

    CONTACT: Schlumberger RMS
              Myrna Saidah,  33 1 47 46 49 58
              Public Relations, Europe
              saidah@montrouge.rms.slb.com
               or
              Itron
              Beatrice Thomas,   33 4 74 31 51 63
              Public Relations, Europe
              beatrice.thomas@itron.com
               or
              Schlumberger RMS
              Rebecca Kelly,  1 770 662 1832
              Public Relations, North America
              kelly@norcross.rms.slb.com
              http://www.slb.com
               or
              Itron
              Mima Scarpelli,  1 509 891 3565
              Investors Relations
              mima.scarpelli@itron.com
              http://www.itron.com