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ServiceWare Technologies Secures $2.5 Million Credit Facility From ComericaPHILADELPHIA and EDISON, NJ – Nov. 4, 2002 –Comerica (NYSE: CMA), a leading financial services company, and ServiceWare Technologies, Inc. (NASDAQ: SVCW), a leading provider of Web-based knowledge management solutions for customer service and support, announced today that Comerica’s Technology and Life Sciences Division has provided the company with a $2.5 million credit facility, consisting of a $2 million revolving line of credit and a $500,000 term loan. “Comerica is pleased to provide this credit facility to ServiceWare, a supplier of Internet-based problem resolution and knowledge management solutions for more than 200 leading enterprises,” said Steven D. Hobman, senior vice president and regional manager of Comerica’s Mid-Atlantic North Technology and Life Sciences Division. “We specialize in the niche market of technology banking, and we have the resources and expertise to meet the financial needs of both early- and late-stage companies.” For more than 10 years, ServiceWare has helped businesses develop and manage a repository of knowledge to effectively answer inquiries over the Web and via call centers. Its eService Suite™ software empowers the delivery of superior service, while reducing costs for support. ServiceWare has operations across the U.S. and European subsidiary operations based in the U.K. “We were pleased to find a bank that understands the unique financial challenges software companies face. We appreciate receiving this credit facility, which was tailored to contribute to our growth,” said Richard Liebman, ServiceWare’s CFO. “The availability of these funds will help us build on our past successes by allowing us to continue to enhance our technology and grow our customer base worldwide.” About Comerica’s Technology and Life Sciences Division Comerica’s Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica’s Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $52.6 billion in assets. For more information, visit www.comerica.com. About ServiceWare ServiceWare is a leading provider of Web-based knowledge management solutions for customer service and support. ServiceWare's eService Suite™ software empowers organizations to deliver superior service, while reducing support costs. Powered by MindSync™, a patented self-learning search technology, eService Suite enables businesses to develop and manage a repository of knowledge to effectively answer inquiries over the Web and in the call center. More than 200 leading organizations have implemented ServiceWare software including H&R Block, AT&T Wireless, Cingular Wireless, Northeast Utilities, Reuters, Stream International, and QUALCOMM. Learn more today by visiting www.serviceware.com or call 1.800.572.5748. eService Suite and MindSync 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, risks related to ServiceWare's eService software strategy, fluctuations in customer demand, use of the Web as a delivery vehicle for customer support solutions, risks resulting from new product introductions, integration of acquired products with current offerings, 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 filings with the Securities and Exchange Commission. Editorial Contact: Jessica Jordan ServiceWare Technologies (412) 826 –1014 x 1413 jjordan@serviceware.com top of page |
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