TEL AVIV, Israel, June 3, 2004 (PRIMEZONE) -- Technoprises, Ltd. (OTCBB:TNOLF), a global provider of end-to-end cross-media integration of "seamless computing", today announced the formation of a European consortium, "Copa-Caban", a joint venture between Telematic Cross Media (TCM), a subsidiary of Technoprises, and other European companies under the umbrella of ITEA (Information Technology for European Advancement).
Copa-Caban consists of European and Israeli companies, including TTI-Telecom and Scopus. Its primary focus is the advancement of future standards for several different cross-media platforms and a uniformed communication format within the European industry for different digital devices.
ITEA is an eight-year old strategic pan-European program for advanced pre-competitive research and development in embedded and distributed software. The Organization was set up to stimulate and support projects that give the European industry a leading edge in software-intensive systems. ITEA coordinates and inspires industry-driven, pre-competitive R&D by bringing together partners from within the industry, universities and research institutes for strategic projects.
Avigdor Olshanski, CEO of TCM, said, "We believe that by forming the consortium, ITEA has indicated the direction the rest of the world will take in the area of cross-media computing. We are honored to join forces with such distinguished companies from different countries; our reward is the tremendous opportunity to join forces with the large industries in developing new standards and ways of communicating seamlessly."
"Copa-Caban is an excellent example of the type of international programs unique to the ITEA," said Prosper Abitbol, Chairman & CEO of Technoprises, Ltd. "It represents a milestone in the area of end-to-end, cross-media computing. The companies joining us have been leaders within the industry for years and we are extremely proud to have been invited to take the lead in this important venture."
TCM offers an open digital content platform, which enables end-users to access text, video and audio information. It enhances personalized interactivity through the use of patented technologies including InfoStyle and TVgate.
Since 1999, Israel, with the support of the Ministry of Industry and MATIMOP, has taken part in ITEA projects. Large European companies that have also participated in ITEA include Alcatel, Thalesgroup, Simens, Nokia, Erikson and Phillips.
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.