SPI Technologies gets Elsevier Science project

The Philippines' pioneer IT Services company, SPI Technologies Inc. announced that it has been awarded a large-scale, multi-year, content conversion project from Elsevier Science (www.elsevier.com), the world's largest scientific, technical and medical (STM) publisher.

The project involves expansion of the collection of journal backfiles offered on ScienceDirect, the leading electronic service of Elsevier Science. Through this initiative, SPI is tasked with enriching Elsevier's archival resources, enabling users to access the backfiles of leading titles extending in some cases as far back as the first volume ever published.

The text will be viewable on the web in PDF format with all titles, abstracts and references available and searchable in full text format. All archival resources will be available in the ScienceDirect database, enabling users to employ ScienceDirect’s advanced searching capabilities not only to the most recent research available, but to archival resources as well.

"Our decision to expand electronic access to retrospective volumes is in response to the enthusiastic feedback we have received from the research community," Derk Haank, chief executive, Elsevier Science commented. "We intend to make available electronically as much of our content as is feasible and believe this will help provide a long-term enhancement to scientists’ research efforts. We selected SPI based on their excellent long-term performance on similar projects. They are a key partner in making this expansion a reality."

Ernest Cu, president and CEO of SPI said, "This project is the most significant expansion of our long-term relationship with Elsevier Science and validates the strength of a relationship that extends beyond content conversion and into journal production. A project of this magnitude will constantly boost even further the significant growth that SPI is currently experiencing."

Due to the scale of the project, SPI will establish a wholly owned subsidiary named Content Sciences, Inc. The new production facility will be situated in an Ita world-class eEnterprise zZone outside of Metro Manila. The new entity has been recently incorporated and granted incentives by the Philippine Export Zone Authority (PEZA).

"We are extremely excited about this project. The scale of this project award is testimony to the fact that SPI is one of the most reliable and experienced content conversion companies in the world. We demonstrated a high degree of flexibility and reliability with a previous project of a similar nature with Elsevier and that I am sure was a major contributing factor in Elsevier's decision," concludes Ian Bellord, SPI's managing director for Content Conversion.

About Elsevier Science

Elsevier Science (www.elsevier.com) is the world’s largest scientific, technical and medical information provider, publishing journals as well as books and secondary databases. It is a member of the Reed Elsevier plc group (www.reed-elsevier.com), a leading international publisher and information provider. Operating in the scientific, legal and business-to-business industry sectors, Reed Elsevier provides information solutions to professional end users, with increasing emphasis on the Internet as a delivery method.

About ScienceDirect

ScienceDirect, a unit of Elsevier Science, is an open platform offering its subscribers desktop access to more than 3 million full-text articles. Coverage includes 1,200 journals published by Elsevier Science and access to journals from 60+ leading STM publishers via CrossRef. An expanding suite of databases in a rich linking environment provides subscribers with extensive access to the world’s published STM literature.

About SPI Technologies

SPI Technologies is an ISO 9002 certified provider of outsourced IT services. The company offers a diversified line of services, which include:

a. Content Conversion ñ provision of high-end web content services

b. Litigation Support ñ document analysis and production of customized databases of court documents

c. Scholarly Publisher Services ñ end-to-end production services for STM journals enabling multi-channel publishing

d. Software Services ñ custom software development and system maintenance services

e. E Telecare ñ web enabled, outsourced call center services

SPI currently services a blue chip client base primarily from the United States and Europe.

Forward looking statements in this release are based on current expectations and actual results may differ materially due to risks, uncertainties and other factors. These forward looking statements are based largely on the Companyís current expectations and are subject to a number of risks and uncertainties, including without limitation, changes in external market factors and various competitive factors.

For more information, contact:
Eleanor Salumbre
Investor Relations Manager
SPI Technologies, Inc.
(632) 855-8600
Email: [email protected]
Authenticated by:
ERNEST L. CU
President & CEO
April 27,2001
No. 04270147
MA-135