Connectivity, Inc. Receives Notice to Proceed on $458,000 Contract for Nevada DOT Call Box and Video Pole Contract
NEW YORK--(BUSINESS WIRE)--Oct. 8, 2003--CNE Group, Inc. (AMEX/PCX: CNE) today announced that its subsidiary, Connectivity, Inc. ("Connectivity"), had received a "Notice to Proceed" from the Nevada Department of Transportation relating to a $458,000 contract for the installation of wireless emergency callboxes and video poles on Interstate-15 from the California state border to the Las Vegas city limits.
The project showcases the versatility of Connectivity's integrated wireless solutions which can be used with intelligent traffic systems ("ITS") utilized on highway systems throughout the country. These products are two of many within the "SRC group of companies." Connectivity's call boxes deliver clear, two-way voice communication between the callbox user and a monitor, or a team of monitors. Initially, sixty wireless callboxes will be integrated with the state's radio system and installed on both sides of the road at mile intervals. In addition, the Nevada DOT has placed an initial order of five of Connectivity's wireless video poles so as to provide clear, live video for monitoring traffic flow along the Interstate.
Commenting on receiving this contract, Michael Gutowski, COO of CNE and CEO of Connectivity, said, "We are pleased to have been awarded this pilot contract and received the related Notice to Proceed. We expect to expand the scope of our work with the State of Nevada and its municipalities in the near future."
George Benoit, Chairman of CNE Group, added, "We see this as another step we have taken towards executing our business plan. I-15 represents a small portion of the State of Nevada, and we look forward to the opportunity to provide additional regions of the state with our state-of-the-art technology. I remain confident that the "SRC group of companies" has the means to become a dominant force in the wireless ITS and callbox marketplace."
Rich Sheldrew, Communications Manager for NDOT commented, "We looked at many different companies to address our needs along the I-15 corridor and, after extensive due diligence, we decided that Connectivity had the appropriate solution. We are very pleased that Connectivity is able to partner with us in providing quality upgrades for our highways, and we look forward to a long relationship."
About CNE Group, Inc.
CNE Group, Inc. is a holding company whose primary operating subsidiary is SRC Technologies, Inc. SRC, also a holding company, is the parent of Connectivity, Inc., Econo-Comm, Inc. (d/b/a Mobile Communications) and U.S. Commlink, Ltd. Connectivity, U.S. Commlink and Mobile Communications - the "SRC group of companies" - market, manufacture, repair and maintain remote radio and cellular-based emergency response products to a variety of federal, state and local government institutions, and other vertical markets throughout the United States. SRC has intellectual property rights to certain key elements of these products - specifically, certain communication, data entry and telemetry devices.
The Company also generates revenue from its CareerEngine division that is engaged in the business of e-recruiting.
The Company and CareerEngine are located at 200 West 57th Street, New York, NY 10019 (212- 977-2200). SRC, Connectivity and Mobile Communications are located at 3733 NW 16th Street, Lauderhill, FL 33311 (954-587-1414). U.S. Commlink. is located at 6244 Preston Avenue, Livermore, CA 94550 (925-960-0097).
Certain statements in this press release constitute "forward-looking statements" relating to CNE Group, Inc. and its subsidiaries (the "Company") within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding future events, our financial performance and operating results, our business strategy and our financing plans are forward-looking statements. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "would," "should," "could," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms or other comparable terminology. These statements are only predictions. Known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those contemplated by the statements. In evaluating these statements, you should specifically consider various factors that may cause our actual results to differ materially from any forward-looking statements.
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