SCOTTSDALE, Ariz., Feb. 3, 2004 (PRIMEZONE) -- OneSource Technologies, Inc., (OTCBB:OSRC) announced this date the renewal of its long-term agreement with King Soopers (Kroger's Colorado division) for continued on-site maintenance services in the company's 138 King Soopers and City Markets full-service food and drug centers along Colorado's eastern and western fronts. The agreement continues OneSource's unique service arrangements for another year wherein OneSource provides single-source "blanket" coverage for all electronic equipment in the stores including, all POS check out lane equipment, i.e., computers, monitors, scanner/scales, registers, printers, card readers as well as all department computers, printers, fax machines and more. This new contract, which commences in February 2004 represents the 6th year of the relationship and will contribute approximately $2 million in annual maintenance division revenues to the Company.
"This renewal represents a significant milestone in our relationship with Kroger's Colorado operations," stated Michael Hirschey, OneSource CEO. "Renewal of this agreement reflects the positive perception Kroger management has of our unique service delivery capabilities as well as our high level of service quality," continued Hirschey. "We've worked diligently over the past five years to improve every aspect of our maintenance division's operations and view this renewal as confirmation that we've succeeded in that regard," concluded Hirschey.
About OneSource
OneSource is engaged in three closely related and complimentary lines of IT and business equipment support products and services, 1) equipment maintenance services, 2) equipment installation and integration services, and 3) value added equipment supply sales. Each segment also utilizes the Internet to facilitate distribution of its service and product offerings. OneSource is a leader in the technology equipment maintenance and service industry and is the inventor of the unique OneSource Flat-Rate Blanket Maintenance System(tm). This innovative program provides customers with a Single Source for all general office, computer and peripheral and industry specific equipment technology maintenance and installation services under a single agreement.
Product and Company names mentioned herein are for identification purposes and may be trademarked or registered trademarks of their respective companies. This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 as amended, and is subject to the safe harbors created by those sections.