BRAMA, March 5, 2002, 11 pm ET

"Financial Collection" in action at "AES KievOblEnergo"

Kharkiv, Ukraine — The financial accounting and resource management system "Financial Collection" developed by EnTechEco Ltd. has been placed in operation at the company "AES KievOblEnergo". The project has been fulfilled in strong conformity with the contract and the time schedule.

The decision to implement "Financial Collection" at the company "AES KievOblEnergo" was adopted due to results of the tender held by "AES KievOblEnergo" in July 2001. The high tender level was illustrated by the list of competitors including Oracle Applications ERP-system presented by Quasar-Micro (Kiev).

The tender was held under quite complicated conditions. First, the customer’s negative experience of the similar tender in 1998 came into play. The system chosen on that tender was not put into operation during the forthcoming year, causing economical loss.

Second, the 2001 tender was the first event of that kind held after the American company "AES Silk Road" bought the control packet of shares of "KievOblEnergo" in April 2001. Since first days the new owners oriented on the technical modernization of "KievOblEnergo" and the improvement of company management structure. Several staff reorganization took place.

As a consequence, the experts of "AES KievOblEnergo" were very hard on the choice of resource management system. The detailed comparative analysis of market was made, the number of presentations were held, the enterprises where the systems presented on the tender worked were visited.

Among the crucial factors stipulated success of EnTechEco’s "Financial Collection" on the tender were the following ones: wide positive experience of exploiting given system on energy enterprises of Ukraine (half the power generating and considerable part of the power supplying companies of Ukraine used given system); optimal price/quality relation; company’s skills and real experience in professional solving the hardest problems of management on energy enterprises and in quick proposing intelligent solutions.

The power-supplying company "AES KievOblEnergo" (www.koe.com.ua) belongs to the American company "AES Silk Road" (the subdivision of AES Corporation (www.aes.com)). AES Corporation consolidates more than 150 power generating plants all over the world with the total power of 60,000 MWt. "AES KievOblEnergo" is the largest power-distributing and power-transporting enterprise in Kiev region.

EnTechEco Ltd. (www.offshore.entecheco.com) is a leading provider of business management software for middle and large industrial enterprises since 1991. At present, among the serially implemented products are: financial accounting and resource management system "Financial Collection" (finance, human resources, capital assets, etc.), "Fuel and Raw Material Accounting" system, Maintenance management system, automated control systems for technological processes, etc. Among the company customers are: "CenterEnergo" - one of the largest power-generating companies of Ukraine (Central Office, Zmiyevskaya, Uglegorskaya and Tripolskaya heat power plants and "RemEnergo" enterprise); Central Office and 10 subsidiaries of "KievMetroStroy"; Kharkov boiler-mechanical plant; power-generating and power-supplying companies "DonbassEnergo", "KievOblEnergo", "KhersonOblEnergo", "KharkovOblEnergo", etc.

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