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Comverge Technologies Named "Most Promising Company" at
Recent Energy Venture Fair-II
MAHWAH, NJ-February 20, 2002 - Data Systems & Software Inc. (NASDAQ: DSSI), a provider of computer consulting and development services, and an authorized direct seller and value added reseller of computer hardware, today announced that its energy intelligence subsidiary, Comverge Technologies, was named "Most Promising Company" among the 75 energy companies that presented at the Energy Venture Fair-II, held recently in Houston, Texas.
Energy Venture Fair-II is an event organized to bring emerging companies in the energy sector together with an audience of more than 300 angel investors, venture capitalists, equity partners, investment banks and utility companies.
Comverge Technologies, which currently is a major participant in the energy intelligence sector, provides its energy monitoring and communications software products and services to 450 energy companies in the United States and in 14 other countries.
Comverge CEO, Robert Chiste, said, "We are delighted that Comverge earned such high praise from those who share our market space. This honor validates our belief that Comverge is indeed a leader in the energy solutions marketplace, and strengthens our commitment to bring the Company to the forefront of the industry."
About Comverge Technologies
Comverge Technologies, Inc., The Power in Power Technology™, has more than 500 customers in 15 countries around the globe. Comverge has offices, research facilities, representatives and agents located around the world. Their End-to-End Energy Intelligence™ software suite, PowerCAMP™, combined with their field-proven hardware development and manufacturing expertise, enable scalable information infrastructures-custom-designed to meet the needs of today's innovative energy suppliers. Comverge Technologies group provides integrated, full-spectrum solutions for direct or voluntary loadcontrol programs, remote meter reading, price-responsive programs,time-of-use billing, distributed generation monitoring, theft/outagedetection and more. Comverge Enterprises group provides innovative business solutions including owned and operated systems, negawatt power purchase agreements, and joint ventures. For more information visit www.comverge.com.
About Data Systems & Software Inc.
In addition to the data communication solutions business conducted through Comverge Technologies, Data Systems & Software is a provider of computer consulting and development services, and is an authorized direct seller and value added reseller of computer hardware. Through its Decision Systems Israel subsidiary, DSSI provides IT solutions. For additional information on DSSI, visit: www.dssiinc.com or www.nfnonline.com/dssi. For additional information on Decision Systems Israel, visit www.dsi.co.il.
This press release includes forward-looking statements, which are subject to risks and uncertainties, including risks associated with (i) conditions in the market for utility solutions, including the pace and consequences of deregulation and competition, (ii) conditions in the computer hardware markets, (iii) the downturn in the hi-tech markets, (iv) the need to raise additional capital to finance the activities of Comverge, which funding may not be available on a timely basis or on reasonable terms and (v) the Company's business generally. Actual results may vary from those projected or implied by such forward-looking statements. A more complete discussion of risks and uncertainties which may affect the accuracy of these statements and the Company's business generally is included in "Business-Factors Which May Affect Future Results" in DSSI's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
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