Hackensack, NJ – February 23, 2006 – Ness Technologies, Inc. (NASDAQ: NSTC), a global provider of IT services and solutions, today announced that it has been awarded a ten-year contract by the Tel Aviv-Jaffa municipality, worth approximately $19 million, to establish a municipal tax billing and collection system. The system will integrate SAP solutions and local development customized to the municipality’s needs. Tel Aviv-Jaffa is Israel's main business and financial center.
The municipal tax billing and collection system will include all the real estate properties situated in Tel Aviv-Jaffa and pertinent data on the residents, businesses and companies in the city. The new system will manage the municipal tax billing and collection, in the first stage, and will serve as a foundation for future applications including municipal service charges, such as water and education charges. Taldor, an Israeli IT company, will be a subcontractor to Ness.
"The new municipal tax system is an important, strategic system for the municipality," said Menahem Leiba, Director General of the Tel Aviv Municipality. "It handles all aspects of the billing and collection process, to the tune of approximately $530 million annually. The cooperation with Ness and Taldor serves as the foundation for the future, and for producing economic benefit for the municipality and its residents from the systems that will be developed, as well as from additional systems already developed by the municipality."
"The new contract further positions Ness as a leading provider of IT services and solutions to the public sector," said Shachar Efal, President of Ness Israel. "Tel Aviv-Jaffa joins other big cities worldwide which have implemented SAP-integrated solutions, including, Houston, Ottawa, Cape Town, Geneva and Lisbon, among others."
Doron Sapir, CEO of Taldor, added that this is the first joint project for Taldor with Ness in the municipal sector.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Specializing in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training, Ness serves a blue-chip client base of over 500 public- and private-sector customers. With over 5,900 employees, Ness maintains operations in 16 countries across North America, Europe and Asia, and more than 100 alliances and partnerships around the world.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as “believes,” “expects,” “may,” “anticipates,” “plans,” “intends,” “assumes,” “will” or similar expressions. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness’ actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the “Risk Factors” described in Ness’ Annual Report of Form 10-K filed with the Securities and Exchange Commission on March 31, 2005.
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