Comverge Named "Most Promising Company" Again At
Recent Energy Venture Fair III
FLORHAM PARK, NJ-October 15, 2002 - Comverge, Inc., a subsidiary of Data Systems & Software Inc., (NASDAQ: DSSI), today announced that it was named "Most Promising Company" among the 75 energy companies that presented at the Energy Venture Fair III, held in Chicago, Illinois last week.
Energy Venture Fair III 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 also won the award last February, at Energy Venture Fair II.
Comverge, which currently is a major participant in the energy intelligence sector, provides its energy monitoring and communications software products and services to 500 energy company customers in the United States and in 14 other countries.
Comverge CEO, Robert M. Chiste, said, "We are delighted that Comverge has received this distinguished award. It is particularly gratifying because we also received this award at Energy Venture Fair II. We believe that this is a recognition by the financial community that Comverge continues to meet our objectives, grow our existing and new business ventures, and expand our target markets."
About Comverge, Inc.
Comverge, Inc., The Power in Power TechnologyTM, 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 IntelligenceTM software suite, PowerCAMPTM, 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 load control programs, remote meter reading, price-responsive programs, time-of-use billing, distributed generation monitoring, theft/outage detection 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.
Data Systems & Software Inc. is a provider of software consulting and development services, and is an authorized direct seller and value added reseller of computer hardware. Through its Comverge Technologies subsidiary, the Company provides energy intelligence solutions to utilities. For additional information on DSSI, visit: www.dssiinc.com or www.nfnonline.com/dssi.
Contact
Comverge, Inc.: Sky Filippi, Director of Marketing, (973) 360-2220, x267, , www.comverge.com.
Investor Relations: National Financial Network, Gary Geraci, 781/444-6100 (ext. 629), or 800/640-2656, garyg@otcfn.com.
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.
