AUSTIN, Texas, Oct. 29, 2004 (PRIMEZONE) -- Vertica Software, Inc. (OTCBB:VSWI) is pleased to announce that it has acquired Century Resources, Inc., now a wholly owned subsidiary of VSWI. Century Resources is an independent oil and gas exploration, production and acquisition company. In existence since 1985, Century Resources' activities have included drilling and development operations of over 6,000 acres of oil and gas producing properties in Texas and Oklahoma.
VSWI has acquired Century Resources in a share-for-share exchange, and issued approximately 38,000,000 shares of common stock immediately after completion of the acquisition. The Company's operations will now be headquartered in Houston, TX and focused exclusively on the oil and gas exploration and production industry.
Departing Vertica Software President, William Mason said, "We are pleased with completion of this acquisition and the great potential this offers to our shareholders. Ed DeStefano has been the President of this profitable operation since its inception in 1985. It is his great experience in the oil and gas industry coupled with the utilization of forward-looking exploration technologies which will allow the Company to achieve success."
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements in this release relating to future product availability and positive direction are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Some or all of the aspects anticipated by these forward-looking statements may not, in fact, occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties, the future market price of VSWI common stock and the Company's ability to obtain necessary future financing.
For further information contact David Zazoff, ZA Consulting LLC, Information Agent, for Vertica Software, Inc. or Century Resources, Inc. at 800-596-8388 or 212-505-5976