Conoco Inc. Announces Equity Investment In Dingo Maintenance Systems.

Business/Energy Editors

HOUSTON--(BUSINESS WIRE)--Dec. 7, 2000

In its continuing drive to utilize new technologies to bring value to its customers, Conoco Inc. (NYSE:COCA)(NYSE:COCB) has made an equity investment in Dingo Maintenance Systems, the premier international supplier of heavy equipment condition monitoring systems.

Dingo's unique, Web-based collaborative maintenance offering takes e-commerce to the next level by utilizing the full power of the Internet," says John Derr, general manager for Conoco Lubricants and Specialty Products businesses. "Dingo's technology platform will improve maintenance, generating huge savings in maintenance costs for customers in asset-intensive industries," adds Derr.

Brisbane, Australia-based Dingo, founded in 1991, developed its proprietary software in-house using the latest development techniques including multi-lingual functionality. "We are merging two formidable forces -- our niche market expertise with Conoco's quality lubricants products and strong customer base -- to form the industry's leading collaborative maintenance network," says Paul Higgins, president of Dingo.

Under the agreement, Dingo and Conoco focus on bringing the product and services to Conoco's commercial and industrial customers. Conoco is the only energy company with rights to sell the Dingo service.

Predictive maintenance is more important than ever before since asset-intensive companies, such as those in the mining industry, spend up to 55 percent of its operating budgets on maintenance costs. The market for predictive maintenance services is rapidly growing and is expected to exceed $1 billion by 2002, according to consultant Frost and Sullivan.

Dingo's software products bring condition monitoring into the 21st century by managing the entire process -- from the time oil samples are taken to recommending the correct maintenance action. This allows companies to avoid costly surprises and keep equipment running at peak efficiency.

"We are arranging the information in a format tailored to the customer so they can turn information into action," says Higgins. Dingo products can be used with all types of heavy machinery and operate independently of testing equipment.

Dingo products enable customers with remote and multiple work sites to improve maintenance programs through real time, interactive communication with technical experts from equipment manufacturers, independent oil analysis labs and Conoco Lubricants.

The Dingo program also shows the performance and maintenance histories of specific equipment models on the Internet, allowing customers to better predict and remedy potential maintenance problems before they occur.

Conoco Inc. is a major, integrated energy company active in more than 40 countries. It offers a full line of premium hydrocracked lubricants. The HYDROCLEAR(R) Lubricants product line serves industries ranging from mining and heavy-duty trucking fleets to injection molding and power generation.

Dingo's software products include FleetOil(R) for Windows, Dingo Lube Explorer(R) and Dingo Lab Manager(TM). Dingo's customers include Alcoa, Chicago Transit Authority, NASA and Peabody Coal and Caterpillar dealerships in Australia and the United States.

http://www.conoco.com