| Forecross Inks Two Migration Contracts - Total Value $1,147,000
May 15, 2002
Contact: Pat Dittmar (Pat@forecross.com)
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San Francisco, California: Forecross®
Corporation (OTCBB - FRXX) announced today that it has signed two new legacy migration
contracts, one of which includes a license of its L2X/SmartXMLTM software for
web-service-enablement through XML.
Under the first contract, Forecross will migrate all CA-IDMS applications to DB2 and XML
for an international food retail, foodservice and e-commerce company. Working with a
premier services firm with expertise in the customer's vertical market, Forecross will
provide all code transformations using its proprietary Convert and L2X software. In its
role as prime contractor, the services firm will provide project management, testing and
certain re-engineering services. The value of this contract to Forecross is $947,000.
"Because of its global retail presence, the ultimate client on this project is a
leader in the use of XML to facilitate e-commerce. We are especially pleased that they
have chosen Forecross to help web-service-enable some of their most important legacy
mainframe applications," commented Bernadette C. Castello, Senior Vice President and
CFO.
The second contract is with an information technology services company for the migration
of certain computer applications from CA-IDMS to DB2. Forecross will perform the migration
as a sub-contractor for the benefit of an agency of an East coast state government.
"This customer has asked us to perform a $200,000 pilot migration project. Under this
contract, we will convert one small application in its entirety so that the customer can
evaluate the process and results. The customer intends to use this information to better
plan and conduct a larger migration effort. We believe that the larger project, which has
not yet been awarded, may ultimately involve a $3-4 million dollar migration effort. We
look forward to a long and mutually beneficial relationship with this customer," said
Castello.
About Forecross
Founded in 1982 as a high-technology software development laboratory,
Forecross Corporation is dedicated to the design and development of innovative conversion
software to re-deploy and integrate legacy applications using Internet technologies.
Clients have included such leading corporations as Aetna Life Insurance Company, Brown
Brothers Harriman & Company, Charles Schwab & Co., BDM Technologies, Inc., IBM
Corporation and Bank of America NTSA for its migration software services. Teaming partners
of Forecross Corporation include Allen Systems Group, Inc., CIBER, Inc., U.S. Technology
Resources and SCB Computer Technology.
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On Behalf of the Board of Directors,
Bernadette C. Castello
Senior Vice President and CFO
Forecross Corporation
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Except for historical information contained herein, the matters set
forth in this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance, market
demand, pricing, changing regulatory environment, changing economic conditions, risks in
new product and service development, the effect of the company’s accounting policies
and other risk factors detailed in the Company’s SEC and BCSC filings.
The U.S. Securities and Exchange Commission has not reviewed and does
not accept responsibility for the adequacy or accuracy of this News Release, which has
been prepared by the Company.
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