VIENNA, Va., April 27, 2004 (PRIMEZONE) -- MSSI-TeleScience International Inc. (OTCBB: MSSI), a provider of long-term medical personnel, homeland security and technology services to federal, state and local government agencies as well as the private sector, announced today that it has begun bidding on joint projects with USA FutureTech, Inc. (USAFT), a provider of a broad range of e-collaboration, decontamination and medical products.
To date, the companies have bid jointly on two large government contracts totaling more than $16 million in potential joint revenues.
The announcement comes shortly after MSSI entered into a formal Mentor-Protege agreement as a corporate mentor to USA FutureTech.
"The mentor-protege relationship has enhanced the ability of both companies to compete more successfully for federal government contracts by offering a broader range of complementary products and services under one umbrella," said Dr. B.B. Sahay, MSSI-TeleScience President and CEO.
Named for a section of the Small Business Act, SBA's 8(a) program is a business development initiative that helps socially disadvantaged Americans gain access to economic opportunity, to achieve entrepreneurial success, and contribute to the strength and vigor of the U.S. economy.
Founded in 1997, USA FutureTech, Inc. (USAFT) is a Service-Disabled Veteran Owned Business, certified as a participant in the U.S. Small Business Administration's 8(a) Business Development program. Also certified as a Minority-Owned Small Disadvantaged Business by the federal government, USAFT provides a variety of Information Technology (IT) services, medical equipment and related services to the federal government. Additional information about USAFT is available online at http://www.usafuturetech.com.
About MSSI-TeleScience
MSSI-TeleScience International is a provider of long-term medical personnel, homeland security and technology services to federal, state and local government agencies and the private sector. The Company's Medical Services Division has operations in 22 states servicing hospital and medical facilities with doctors, nurses and technicians. It has long-term contracts with the U.S. Army, the U.S. Department of Health and Human Services, and the State of California, to mention a few. The company's Technology Division provides systems integration and information technology services to the federal government as well as emergency equipment decontamination products, vehicles, and supplies to state and local governments. The company has been named as a participant in a $1 billion IDIQ (Indefinite Delivery Indefinite Quantity) contract with the Commonwealth of Pennsylvania for homeland security equipment. MSSI-TeleScience International currently has over 200 employees and continues to grow its staff and contracts.
For information, visit the website at www.telescience.com. Shareholders can log onto the shareholder registration form on the Company website to be placed on the mailing list for future information. The Company headquarters is located at 8150 Leesburg Pike, Suite 1200, Vienna VA 22182.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. TeleScience disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.