NORWOOD, Mass., Jan. 11 -- Elcom International, Inc. ("Elcom" or the "Company") (OTC Bulletin Board: ELCO) and (AIM: ELC and ELCS), a leading international provider of remotely-hosted eProcurement and eMarketplace solutions, is pleased to announce that Oldham Metropolitan Borough Council has selected PECOS, Elcom's remotely-hosted eProcurement system, to be deployed as the online procurement tool for the Council.
Bruce Levitan, Oldham Metropolitan Borough Council Head of Business Improvement, said, "We are pleased to be able to be able to address our procurement automation needs by partnering with Elcom. Our goal is to reduce procurement related costs through the application of technology and best practices. We hope Elcom's vast experience will help the Council's objectives of improving services while reducing costs."
Robert J. Crowell, Elcom International's Chairman said, "We look forward to working with the e-Government Project Team to deploy a world class public sector solution to Oldham Metropolitan Borough Council. PECOS, Elcom's eProcurement solution, offers a highly configurable yet easy to use environment that can be crafted to support many of the best practices that are at the root of procurement process improvement. The scope of the PECOS system, which addresses the entire procurement process from sourcing to spending analysis, enables us to automate a number of process domains including requisitioning, receiving and financial settlement, creating additional cost savings and efficiencies for Oldham."
Elcom Product Offerings
For detailed information on Elcom's PECOS(TM) technology and optional Dynamic Trading functionality, please visit Elcom's website at http://www.elcominternational.com/products.htm
About Elcom International, Inc.
Elcom International, Inc. (OTC Bulletin Board: ELCO and AIM: ELC and ELCS), operates elcom, inc. ("Elcom"), an international B2B Commerce Service Provider offering affordable solutions for buyers, sellers and commerce communities to automate many or all of their procurement processes and purchase most or all of their goods and services in a 'private' eMarketplace system. PECOS, Elcom's remotely-hosted flagship solution, enables enterprises of all sizes to achieve the many benefits of eProcurement and eMarketplace functionality, with the system hosted by Elcom at its own data center, eliminating the burden and cost of in-house programming, IT infrastructure and ongoing catalog content and system management. More information is available from Elcom's integrated web site at: http://www.elcominternational.com
About Oldham Metropolitan Borough Council
Oldham Council is a modernising, forward-thinking local authority that believes in the importance of consultation, partnership and communication. Over recent years it has introduced a series of measures to bring its work closer to the communities of the Borough. The Council provides a wide range of services for the people of the Borough and manages an annual budget totalling over #300 million. Five departments -- the Chief Executive's, Environmental Services, Regeneration, Social Services and Education and Cultural Services -- undertake the work of the Council.
STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
Except for the historical information contained herein, the matters discussed in this press release could include forward-looking statements or information. All statements, other than statements of historical fact, including, without limitation, those with respect to the Company's objectives, plans and strategies set forth herein and those preceded by or that include the words "believes," "expects," "targets," "intends," "anticipates," "plans," or similar expressions, are forward-looking statements. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that the Company's expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties which could cause the Company's future results to differ materially from those anticipated, including: (i) the possibility that the Company will have to raise additional working capital to fund operations during 2006 and the availability of any such funding to the Company; (ii) its history of ongoing operating losses; (iii) the substantial number of common shares issued in the Company's recent Regulation S issuance and the possible impact on the market for the Company's shares; (iv) the ability of the Company to perform under its contracts with Capgemini and PA Shared Services Limited ("PASSL"), a member of the PA Consulting group of companies; (v) the overall marketplace and clients' acceptance and usage of eCommerce software systems, eProcurement and eMarketplace solutions including demand therefor by both Scottish and U.K. public entities; (vi) the costs of building the Zanzibar eMarketplace system versus the revenues derived therefrom; (vii) the impact of competitive technologies, products and pricing, particularly given the substantially larger size and scale of certain competitors and potential competitors; (viii) control of expenses; (ix) the consequent results of operations given the aforementioned factors; and (x) other risks detailed from time to time in the Company's Annual Reports on Form 10-KSB, Quarterly Reports on Form 10-QSB and in its other SEC reports and statements. The Company assumes no obligation to update any of the information contained or referenced in this press release.