Corio Announces Corio Technologies As A New Division.Business Editors/Technology Writers SAN CARLOS San Carlos (săn kär`lōs), residential city (1990 pop. 26,167), San Mateo co., W Calif.; inc. 1925. The chief manufactures are plastic products, hardware, and machine parts. , Calif.--(BUSINESS WIRE)--Dec. 5, 2001 Corio, Inc. (Nasdaq:CRIO CRIO COMSEC Regional Issuing Officer cRIO Compact Reconfigurable Input Output (National Instruments) ), a leading enterprise application service provider, today announced the formation of a new division, Corio Technologies, headed by Parmeet Chaddha as Senior Vice President. Corio's new division develops and deploys technology solutions to enhance core application management services. This dedicated organization will focus on research and development to produce application management technologies in support of Corio's customers. In addition, this division demonstrates a concrete investment by Corio for technology leadership. "Corio Technologies is producing targeted intellectual capital to support and enhance our application management capability," said Parmeet Chaddha, Senior Vice President of Corio Technologies. "Our new division is creating technology solutions for managing enterprise applications," said George Kadifa, 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 Corio. "This will further our leadership in the enterprise ASP industry and benefit our customers who turn to us for application management excellence." About Corio, Inc. Corio (Nasdaq:CRIO), a leading enterprise application service provider, delivers best-of-breed enterprise applications over a secure global network for a fixed fee. Corio's experts deploy and manage applications from leading software vendors such as PeopleSoft, Oracle, SAP and Siebel Systems Siebel is a brand name of Oracle Corporation. Siebel Systems, Inc., founded by Thomas Siebel in 1993, was principally engaged in the design, development, marketing and support of CRM applications. . Corio designs and deploys scalable, one-to-many architectures built using world-class infrastructure. Corio SRVCE(TM) enables customers to achieve superior speed, reliability, visibility, control and economics for their enterprise applications. Corio is located in San Carlos, California San Carlos is a city in San Mateo County, California, USA on the San Francisco Peninsula, about halfway between San Francisco and San Jose. It is an affluent small residential suburb located between Belmont to the north and Redwood City to the south. . Additional information about Corio is available at http://www.corio.com. FORWARD LOOKING STATEMENTS: Matters discussed in this release involving expectations, beliefs, plans, projections, intentions, future events or strategies are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities and Exchange Act of 1934, as amended, and 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, and are made under their safe-harbor provisions. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements herein include statements regarding the developments to be made by the Technologies division, the degree of Corio's focus on technology development, the benefits to Corio and its customers from Corio's technology developments, and any future demand for this technology. Some of the specific factors that may cause actual results to differ include: the fact that the ASP industry is a new industry with a rapidly-evolving and changing business model, uncertainties in the current macroeconomic mac·ro·ec·o·nom·ics n. (used with a sing. verb) The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. and political environments, inherent difficulties in engineering technology, the fact that ASP technology needs are rapidly evolving, and Corio's ability to adapt services for rapidly changing technology needs. Additional risks that could cause actual results to differ materially from those projected are discussed in the parties' public filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The parties undertake no obligation to publicly release the results of any revision to these forward-looking statements that may be made to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof or to reflect the occurrence of unanticipated events. Note to Editors: Corio is a trademark of Corio, Inc. All other product and company names mentioned herein may be the trademarks of their respective owners. |
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