Applied Digital Solutions' Government Telecommunications -GTI- Unit Wins Multi-Year Order from the Social Security Administration.Business Editors PALM BEACH, Fla.--(BUSINESS WIRE)--Nov. 6, 2003 Expected First-Year Value of $3.3 million If all options are exercised, the award to GTI GTI Gas Technology Institute GTI Global Taxonomy Initiative GTI Good Time Interval GTI Guelph Turfgrass Institute GTI Green Theme International GTI Gordon Training International GTI Georgia Transportation Institute GTI Group Travel Insurance runs from Nov. 1, 2003 through October 31, 2008 and has a value of up to $16.5 million Applied Digital Solutions, Inc. (Nasdaq: ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ), an advanced technology development company, today announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Government Telecommunications (GTI), has been awarded a multi-year order for telephone system maintenance and support by the Social Security Administration (SSA (Serial Storage Architecture) A fault tolerant peripheral interface from IBM that transfers data at 80 and 160 Mbytes/sec. SSA uses SCSI commands, allowing existing software to drive SSA peripherals, which are typically disk drives. ). If all options are exercised, the award has a value of up to $16.5 million over the life of the agreement. Under the award, GTI will maintain and support telephone systems and related peripheral equipment at SSA Headquarters, Regional Centers, Data Processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a Centers and more than 1,500 field locations throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and its territories. The order begins with an initial base period from November 1, 2003 through October 31, 2004 - with an expected first-year value of $3.3 million - followed by four one-year options. The award was made under GTI's CONNECTIONS contract, announced on March 28, 2003, with the Federal Technology Service of the U.S. General Services Administration The General Services Administration (GSA) was established by section 101 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C.A. § 751). The GSA sets policy for and manages government property and records. . About Government Telecommunications (GTI) GTI, a subsidiary of Computer Equity, Inc. (Compec), is headquartered in Chantilly, Virginia. GTI specializes in designing, deploying and maintaining voice, data and video telecommunications networks for agencies of the federal government. Key customers include the Departments of Defense, Justice and Agriculture, US Postal Service and the Social Security Administration. About Applied Digital Solutions, Inc. Applied Digital Solutions is an advanced technology development company that focuses on a range of life-enhancing, personal safeguard technologies, early warning alert systems, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Technology Group, the company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers. Applied Digital Solutions is majority owner of Digital Angel Corporation (AMEX AMEX See: American Stock Exchange : DOC - News). For more information, visit the company's website at http://www.adsx.com. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. |
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