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ServiceWare Announces EDS’ Equity Investment

Financial Stake Reinforces Global Leader’s Commitment to eService and Customer Care


OAKMONT, PA – October 24, 2000 – ServiceWare Technologies, Inc. (Nasdaq: SVCW), a leading provider of Web-based solutions for enterprise service and support, today announced that EDS, the leading pure-play global services company, took an equity stake in the company of approximately $2 million on June 2.  The investment was a precursor to the more recently announced strategic partnership with ServiceWare that will integrate ServiceWare’s eService Suiteä with EDS’ Digital Customer Relationship Management (CRM) solution, including mobilizing EDS’ consulting and distribution practice to deliver eService Suite solutions.

“Partnering with ServiceWare and other technology leaders is crucial to our goal of delivering world-class customer service solutions,” said George Abigail, vice president of business development and ventures for EDS.  “Our investment in ServiceWare will contribute to their growth and success, and in turn, the growth and success of our partnership as we train and deploy more consultants on eService Suite, and engage in joint promotion and reselling.”

EDS Ventures, EDS’ venture capital group, invests in digital economy companies with leading-edge technologies that are aligned with EDS’ corporate strategy and operations.

“We are pleased that a global leader like EDS has recognized the value of ServiceWare’s solutions and has committed to our ongoing success, the success of our partnership and the value it brings to our joint customers,” said Mark Tapling, CEO and president of ServiceWare.  “EDS’ market-leading consulting and integration expertise, together with the flexibility and power of our eService Suite, is an ideal combination for companies in competitive markets that are racing to differentiate themselves through service.”

About ServiceWare
ServiceWare is a leading provider of Web-based solutions for enterprise service and support, which enable organizations to win on service in the incredibly competitive world of eBusiness.  ServiceWare delivers a comprehensive, integrated family of eService solutions that enable organizations to easily provide customers with fast, accurate answers to inquiries across all touch points – Web, email, phone, fax or in-person.  Based on ServiceWare’s robust knowledge base and patented Cognitive Processor™, ServiceWare’s eService SuiteÔ enables customers to build service destinations for eBusiness.  RightAnswers.com, a Web-based knowledge portal, gives the end user direct access to ServiceWare’s Knowledge Channels, which provide technical support knowledge from leading technology companies including Microsoft, Novell and 3Com, and serves as a leading single source for fast, accurate IT solutions.  ServiceWare customers represent a cross-section of industry leaders in the financial services, technology, manufacturing, healthcare, entertainment, education and government sectors.  More than 4000 organizations have implemented ServiceWare eService solutions including Pfizer, Lucent Technologies, Marriott International, Fleet Services, Stream International, Texas Instruments, Ingram- Micro, John Deere and Bear Stearns.  ServiceWare is the recipient of the prestigious CRM Excellence Award 2000, and was also named one of the “Top 100 Companies to Watch” by KM Magazine.  Learn more today by visiting ServiceWare’s Web site at http://www.serviceware.com or call 800-572-5748.
eService Suite, Cognitive Processor and RightAnswers.com are trademarks of ServiceWare Technologies, Inc.  All other trademarks are properties of their respective owners.

Statements in this press release that are not historical facts, including those statements that refer to ServiceWare’s plans, prospects, expectations, strategies, intentions, hopes and beliefs, are forward-looking statements.  These forward-looking statements are based on information available to ServiceWare today, and ServiceWare assumes no obligation to update these statements as circumstances change.  There are risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, without limitation, failure in customers’ widespread adoption and use of the ServiceWare products, fluctuations in customer demand, use of the Web as a delivery vehicle for customer support solutions, risks resulting from new product introductions and customer acceptance of new products, rapid technological change, risks associated with competition, continued growth in the use of the Internet, ServiceWare’s ability to retain and increase revenue from existing customers and to execute agreements with new customers, and ServiceWare’s ability to attract and retain qualified personnel.  Risk factors are described in more detail in ServiceWare’s prospectus dated August 24, 2000, which is included as part of its Registration Statement on Form S-1, filed with the Securities and Exchange Commission.


 
Editorial Contact:
Katey Stewart
The Horn Group
415-905-4019
kstewart@horngroup.com
 
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