PARAMUS, N.J., Aug. 7, 2003 (PRIMEZONE) -- Vertex Interactive, Inc. (Pink Sheets:VETX), ("Vertex or the Company"), a leading provider of Internet enabling business-to-business fulfillment solutions, today announced that it's enterprise level software division, XeQute Solutions, has received the latest in a series of orders from Advanced Distribution Systems ("ADS"), one of the nation's largest third party logistics providers, to install wireless, software-based pick-to-light systems.
These orders of approximately $600,000 in value represents the fourth major Vertex PicRite(r) pick-to-light system for ADS, bringing the total for these systems to approximately $2 million.
ADS has chosen Vertex for its pick-to-light order fulfillment solution for its facilities throughout the U.S.
Vertex's partnership with ADS further solidifies the Company's rapid emergence as a leader in providing business-to-business order fulfillment solutions for both e-commerce and traditional distribution channels. The use of the Company's PicRite(r) pick-to-light systems at ADS expands Vertex's position in the third party logistics sector.
Joe Napolitano, President of ADS commented: "We are delighted to continue our partnership with Vertex. Once again the systems were installed in a record five days so that our new facility was up and running with minimal interruption to our business in the shortest possible time. We are already reaping efficiencies from these battle tested systems."
Nicholas Toms, CEO of Vertex, commented: "We are extremely pleased by the confidence ADS has shown in us with these latest orders. The first installation in this series of orders was implemented in a record 5 days. This alliance signifies our rapid growth as a leading provider of wireless, software-based warehouse management software, such as the PicRite(r) pick-to-light system to fit the demanding requirements of third party logistics centers, and further establishes Vertex as a force both in the e-commerce marketplace, as well as industries that rely on traditional methods of distribution."
About Vertex Interactive
Vertex Interactive is a provider of supply chain management technology. Vertex offers a comprehensive range of software systems and tools, from point solutions, to integrated end-to-end hardware and software solutions, for enterprise wide and collaborative supply chain optimization.
Safe Harbor
Certain statements contained herein may be forward-looking in nature and are therefore subject to risks and uncertainties that could cause actual results to differ materially. The Company's acquisition and disposal history, history of operating losses, current expense levels compared with its sales, and the state of development of its product portfolio, coupled with the overall economic and competitive operating environments pose a number of risks investors should take into consideration in connection with assessing our financial and operating results. A more detailed discussion of these and other important risk factors can be found in the documents filed with the Securities and Exchange Commission on forms 10-K and 10-Q. Towards the end of each fiscal quarter, Vertex Interactive will have a 'Quiet Period' when Vertex Interactive and its representatives will not comment concerning previously published financial expectations, and we disclaim any obligation to update during the Quiet Period. The public should not rely on previously published expectations during the Quiet Period. Investors should not expect that these forward-looking statements will be updated or supplemented as a result of changing circumstances or otherwise, and Vertex Interactive disavows and disclaims any obligation to do so.
Contact: investorrelations@vetx.com B. Martorano 201-634-1991
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