EuroTelecom Communications Awarded Seven Year Contract by Jarvis Facilities.Business Editors & High-Tech Writers LONDON--(BUSINESS WIRE)--Sept. 19, 2000 EuroTelecom Communications Inc. (Trading Symbol-EUTC, Class A Common Stock quoted on the Alternative Investment Market of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. as ETMA ETMA European Training Media Association ETMA Educational Television & Media Association ETMA European Television Management Academy (Strasburg, France) ETMA European Tubes Manufacturers Association and whose "application linking" technology is used to create the communications backbone for intelligent buildings), has been awarded a seven year facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. contract by Jarvis Facilities Limited (Jarvis), part of Jarvis plc Jarvis PLC (LSE: JRVS) provides support and facilities maintenance services to clients in the railway, manufacturing, and other business sectors. As part of its financial restructuring, Jarvis sold off or shut down several subsidiaries to focus on core businesses. , worth an aggregate $2.45 million in revenues. The initial contract of approximately $350,000 a year for seven years may be extended up to a total of 30 years, providing the initial term is completed successfully. EuroTelecom (http://www.eurotelecom.co.uk) will provide facilities management services together with IT and telecommunications services at the Army Foundation College Introduction The Army Foundation College of the British Army has been sited in Uniacke Barracks, Penny Pot Lane, Harrogate, England, since around the late 1990s. at Harrogate, North Yorkshire North Yorkshire, county (1991 pop. 698,800), 3,209 sq mi (8,313 sq km), N England. The county comprises the districts of Craven, Hambleton, Harrogate, Richmondshire, Ryedale, Scarborough, Selby, and York. . The college site at Harrogate is a new training campus being built on the site of a former Army training establishment. The facility will accommodate 1,400 students for 12-month academic courses, many of which are IT based. Working in partnership with Jarvis, EuroTelecom intends to provide an on-site service team which, in addition to providing the services required under the Jarvis contract, will procure telephony and IT hardware. Accordingly, EuroTelecom expects to generate revenues from this relationship in addition to those provided for within the agreement. Phil Derry, EuroTelecom's chief executive said: "We are delighted to have secured this long-term contract with Jarvis, one of the UK's leading facilities management companies. We expect EuroTelecom's involvement with Jarvis and the Army Foundation College to develop in both size and breadth as the project progresses." This press release contains 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. . Such statements are based on the current expectations and beliefs of the management of EuroTelecom and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. |
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