COLUMBIA, Md., Dec. 11 /PRNewswire/ -- GSE Systems, Inc. (GSE)
(Amex: GVP), a leading global provider of real-time simulation and process
control solutions for the energy and process industries, announced today that
it has extended the expiration date for shareholders to exercise subscription
rights under the offering.
Gill Grady, Senior Vice President for Investor Relations, said: "We have
noticed a significant delay in the mail delivery of the prospectus and other
material that shareholders need to make an informed decision. Numerous
shareholders have phoned us stating that they just recently received
notification of the rights offering from their brokers. Therefore, we will
extend the expiration date until the close of business, Friday, December 21,
2001. We hope this extension gives our shareholders the time needed to review
the rights offering documents, consult with their broker, and process the
necessary paperwork."
GSE Systems, Inc. develops and delivers business and technology solutions
by applying process control, 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, and fossil and nuclear power
generation. GSE Systems is headquartered in Columbia, Maryland with offices
in Alabama, Georgia, Louisiana, Maryland, North and South Carolina,
Pennsylvania, and Texas, and its global locations include offices in Japan and
Sweden. 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, 2000 as
filed with the Securities and Exchange Commission.
SOURCE GSE Systems, Inc.
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Related links:
http://www.gses.com
CONTACT:
Gill R. Grady, Senior Vice President of GSE
Systems, Inc., +1-410-772-3500; General Info, Marilynn Meek,
+1-212-445-8451, or Analysts, Susan Garland, +1-212-445-8458,
both of FRB Weber Shandwick
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