NEW YORK, May 7, 2004 (PRIMEZONE) -- Technoprises, Ltd. (OTCBB:TNOLF) a global provider of end-to-end cross-media integration for "seamless computing", today announced its new subsidiary, Technoprises USA, Inc. (T-USA), based in New York City with sales and support staff located throughout the country.
"In order to realize our vision of 'seamless computing', the bringing together of smart devices by providing end-to-end cross-media content, we need to be with the technology leaders, media companies and cable operators located in the U.S.," said Prosper Abitbol, Chairman and CEO of Technoprises, Ltd. "Being in the U.S. will expedite our ability to provide the distribution of personalized content -- giving customers what they want, when they want it, using the right digital devices for their lifestyle. We expect to use the next few months to build an organizational infrastructure and a solid team to engage in sales, marketing and business development."
T-USA will be headed by Dr. Jerry Cahn, a psychologist and attorney with experience in public policy, who managed the turnaround of a publicly held company, and co-founded and led as CEO, a pioneer computer generated graphics services company, Brilliant Image, for 15 years. Joining him are Jim Lacey, Vice President of Sales, located in Dallas, Texas, and Tom Dewey, Vice President of Customer Service & Support, located in the San Francisco Bay Area. Mr. Lacey was formerly VP of Sales and Marketing at WSNet and Director of Sales for Blonder Tongue Laboratories; Mr. Dewey served as Director of Technical Support for such distinguished companies as COM21, FORE Systems, Ascend Communications and Cisco Systems.
"Technoprises enhances the experience of business, leisure and entertainment content customers by leveraging and commercializing leading-edge technologies," commented Dr. Cahn. "Our mission is to introduce our services and technical capabilities to clients and partners in the U.S. I am excited to be a part of the Technoprises team and to assist in realizing Prosper's vision. To accomplish our goal, we plan to recruit top-notch professionals and build a solid U.S.-based organization."
In addition, the Company has finalized its name change from BVR Technologies to Technoprises, Ltd. As of today, May 7, 2004, the Company's ticker symbol changed from BVRTF to TNOLF.
About Technoprises Ltd.
Technoprises Ltd. is a global provider of end-to-end cross-media integration for "seamless computing." Technoprises was formed through the strategic roll-up of companies to optimize synergies of their respective businesses. The Company has seven patent applications -- six are pending and one was approved in 2003; it also has the exclusive license rights to a patent for InfoStyle -- a technology to distribute targeted media to customers based on a profile of up to 28 unique ways of processing information. Technoprises' subsidiaries are Telematik Cross Media (TCM), which includes TVgate; Entertainment Application Virtual Reality (EVR) and Watchow Desktop. For more information visit the Company's Websites, www.technoprises.com, www.tcrossmedia.com and www.everysystems.com
Safe Harbor
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of Technoprises only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; decline in demand for Technoprises' affiliates' products; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Technoprises to differ materially from those contemplated in such forward-looking statements. Technoprises Ltd. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Technoprises, reference is made to Technoprises' reports filed from time to time with the Securities and Exchange Commission. This press release is available at www.technoprises.com and www.portfoliopr.com.