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ATEC Group's Y2K Division Lands Contracts Valued Over $1.5 Million.


HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Feb. 3, 1999--ATEC Group, Inc. (Nasdaq:ATEC ATEC Army Test and Evaluation Command (US Army; formerly OPTEC, Operational Test & Evaluation Command)
ATEC Australian Tourism Export Council
ATEC Advanced Technologies (Hamburg, Germany) 
) today announced its Year 2000 division, LOGIX Solutions, Inc., has received nine (9) contracts to address the Year 2000 problem Year 2000 problem, Y2K problem, or millennium bug, in computer science, a design flaw in the hardware or software of a computer that caused erroneous results when working with dates beyond Dec. 31, 1999.  for both government agencies and corporate organizations located in California, New York, Colorado and Hawaii.

According to Rita Dozal, chief operating officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
 of LOGIX Solutions, Inc., "With the eleventh hour upon us, most organizations recognize the urgency in making decisions on completing their Y2K See Y2K problem and Y2K compliant.

Y2K - Year 2000
 projects. We are excited to be working on a national level and anticipate winning many more projects."

According to Surinder Rametra, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of ATEC Group, "Of significant note, these projects are cumulatively worth over 1.5 million dollars. This amount represents Phase I on many of these projects, and upon successful completion of these initial contracts we expect additional phases to follow. We anticipated more demand last year in this arena and were disappointed by the lack of activity generated. However, we are now confident LOGIX will not only be profitable this quarter, but a continued contributor to the overall financial profitability of ATEC Group, Inc."

Based in Hauppauge, New York Hauppauge (pronounced /hɔpɔg/) is a hamlet in the Town of Islip and the Town of Smithtown in Suffolk County, New York, United States. , ATEC Group, Inc. is a leading system integrator and provider of a full line of information technology service products. As a one-stop solution provider for the computer needs of businesses, professionals, government agencies and educational institutions, ATEC enters the new millennium with a technological arsenal that includes Year 2000 remediation, multimedia products, video conferencing, system integration, networking, high speed data transmission, Internet, and Intranet ready solutions. In addition, the Company has positioned itself for growth in telecommunications, outsourcing of IT professionals, E-commerce, ISP (1) See in-system programmable.

(2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines.
 and offshore software development to provide its clients' technological needs in a cost effective manner.

Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1U2NY
Date:Feb 3, 1999
Words:372
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