Business Services Industry

Prosoft Announces GSA Contract Eligibility; ComputerPREP Division Can Bid on Federal Contracts for IT Training

Business Wire, July 16, 2004

PHOENIX -- ProsoftTraining (Nasdaq:POSO) today announced it has been granted a contract number by the U.S. General Services Administration (GSA). Inclusion on the GSA schedule allows Prosoft and its divisions to bid on federal contracts for Information Technology (IT) courseware and training. Prosoft's GSA contract number is GS-02F-0159P and can be found under Schedule Information Numbers (SINs) 27-200 (Prepared Printed Instructional Material) and 27-400 (Instructor-Led Training).

Robert Gwin, chairman and CEO of Prosoft, commented, "Our approval by GSA is the result of a nine-month application and negotiation process. Now that it is completed, we have access to a customer channel that previously was not available to us, and we anticipate revenues from this new channel to begin to materialize in the latter part of 2004. We expect government agency spending on IT education to grow more rapidly than in other sectors, especially in the areas of e-security and wireless networking, and thus we believe this activity represents a future growth opportunity for our business."

Prosoft's listing on the GSA schedule can be accessed online from the GSA Schedules e-Library (www.gsaelibrary.gsa.gov).

About ProsoftTraining

ProsoftTraining (Nasdaq:POSO) offers content and certifications to enable individuals to develop and validate critical Information and Communications Technology (ICT) workforce skills. Prosoft is a leader in the workforce development arena, working with state and local governments and school districts to provide ICT education solutions for high school and community college students. Prosoft has created and distributes a complete library of classroom and e-learning courses. Prosoft distributes its content through its ComputerPREP division to individuals, schools, colleges, commercial training centers and corporations worldwide. Prosoft owns the CIW job-role certification program for Internet technologies and the CCNT (Certified in Convergent Network Technologies) certification, and developed and manages the CTP (Convergence Technologies Professional) vendor-neutral certification for telecommunications. To learn more, visit www.ProsoftTraining.com, www.ComputerPREP.com, www.CIWcertified.com and www.CTPcertified.com.

Except for historical information contained herein, the matters discussed in this press release are statements of a forward-looking nature that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, without limitation, the ability of the Company to develop, introduce and gain acceptance of courses, proprietary certifications and other products; the acceptance of ICT certifications in general; the Company's ability to bid successfully on government agency contracts for IT training and courseware; and the other risks and uncertainties outlined in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K/A. The Company undertakes no obligation to update this forward-looking information.

Factors relating to the Company's previously announced proposed merger with Trinity Learning Corporation that could cause actual results to differ materially from those projected include, without limitation: (i) the potential for the transaction disclosed herein to fail to close due to (a) the decision by the stockholders of either or both companies to reject the transaction, (b) the failure by either or both companies to receive all legal and regulatory approvals necessary to complete the transaction, or (c) for any other reason including or not including those identified herein; (ii) the benefits of the transaction, disclosed or undisclosed herein, to either company failing to materialize to the degree expected or not at all; (iii) the terms of the proposed transaction changing to a material degree prior to closing; (iv) the potential value of either company changing significantly as a result of this announcement or any subsequent event; (v) the inability of management to successfully integrate the operations of the two companies; (vi) the inability of the combined companies to achieve expected growth in revenues or expected improvements in operating results; (vii) the inability of the companies to raise enough capital necessary to grow or sustain operations following or prior to closing of the proposed transaction; (viii) the business, operating and financial risks specific to each of ProsoftTraining and Trinity Learning Corporation whether or not disclosed previously by either company; and (ix) the other risks and uncertainties specific to each of ProsoftTraining and Trinity Learning Corporation, as outlined in the companies' filings with the Securities and Exchange Commission, including but not limited to the companies' Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the Registration Statement on Form S-4 filed by ProsoftTraining on June 10, 2004. Neither ProsoftTraining nor Trinity Learning Corporation undertakes any obligation to update this forward-looking information or any other information related to the proposed transaction unless required by laws or regulations covering such transactions.

COPYRIGHT 2004 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

 

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