COLUMBIA, Md., Dec. 7 /PRNewswire/ -- GSE Systems, Inc. (Amex: GVP), a
leading global provider of real time simulation and process control solutions
to the energy, process and manufacturing industries, today announced that its
GSE Power Systems group has been awarded contracts totaling $13 million over
the last three months. The contracts are for power plant training simulator
products in the Ukraine, United States, Switzerland, Korea, Spain and Japan.
The contracts include a variety of new full scope simulators, power plant
monitoring systems, and computer system replacements. The delivery schedules
range from six months to two years.
Jerry Jen, Senior Vice President of GSE Power Systems, said, "These awards
are consistent with our contract booking objectives for 1999. These awards
indicate GSE's continued leadership in the Domestic and International Power
Simulation marketplace. Three of the new awards are utilizing the Windows NT
computer architecture, which brings the total number of these types of
installations to thirty. Our three operating centers, GSE Power Systems,
Inc., GSE Power Systems AB of Sweden and RNI Technologies continue to work
together as a team to provide the best available combination of services and
technology to our clients around the world."
GSE Systems, Inc. develops and delivers business and technology solutions
by applying process control, data acquisition and simulation software, systems
and services to the energy, process and manufacturing industries worldwide.
The Company's products are used in the following industries: specialty
chemical, food and beverage, petroleum refining, pharmaceutical, fossil and
nuclear power generation, metals and water treatment. GSE Systems is
headquartered in Columbia, Maryland with offices in Georgia, Louisiana,
Maryland, North and South Carolina, Pennsylvania, and Texas, and its global
locations include offices in Belgium, Japan, Korea, Sweden, Taiwan, and United
Kingdom. Information about GSE Systems is available via the Internet's World
Wide Web at http://www.gses.com .
This news release contains forward-looking statements that involve risks
and uncertainties. The actual future results of GSE Systems may differ
materially due to a number of factors, including but not limited to delays in
introduction of products or enhancements, size and timing of individual
orders, rapid technological changes, market acceptance of new products and
competition. These and other factors are more fully discussed in the
Company's annual report on Form 10-K for the year ended December 31, 1998 as
filed with the Securities and Exchange Commission.
To receive additional information on GSE Systems, Inc., via fax at no
charge, dial 1-800-PRO-INFO and enter ticker symbol GVP.
SOURCE GSE Systems, Inc.
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Related links:
http://www.gses.com
CONTACT:
Brian K. Southern, Senior Vice President of
GSE Systems, Inc., 443-436-7500, or general, Doug DeLieto, or
media, Marty Gitlin, 212-661-8030, both of The Financial
Relations Board
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