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Date Posted: 21:48:16 11/16/01 Fri
MATTHALE (ID#: 179083) ERG NEWS 10/28/01 21:53 4291791
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ERG Ltd. Quick Quote: X.ERG 0.59 (-0.01)
USA Regional Fare Collection Contract
10/29/01
ERG LIMITED 2001-10-29 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
Attached please find a media release confirming that ERG has been
awarded the exclusive contractor status for the Seattle transit
project.
Under the terms of the proposed contract the customer pays for the
transit infrastructure as it is delivered and ERG has already paid
for the back office system in San Fr
ancisco.
The Company also wishes to advise the market on the status of its
cash inflows, based on projections provided at the time of the
full-year result. As part of the full-year presentation, which was
copied to the ASX, the Company forecast a base inflow of $180 million
of cash collections during the 2002 financial year with possible
payments reaching $265 million. To date the Company has received over
$75 million of that amount, with further project receipts anticipated
during the next 30 days.
C Barrett-Lennard
COMPANY SECRETARY
MEDIA RELEASE
The ERG Group announced today that the Association of Transit
Authorities in Seattle and the Central Puget Sound area of Washington
State has decided to pursue negotiations exclusively with ERG with a
view to concluding a contract worth approximately US$70 million
(A$145 million) to install and operate a regional smart card fare
collection system.
ERG is to provide a "seamless"
smart card fare collection system
initially to five, with an option to expand to seven, public
transport agencies responsible for the region's 2,000 buses and the
commuter rail network and ferry systems. The project will use ERG's
highly successful MASS (multi-application smart card solution)
technology to manage the integrated fare collection system. The
contract being negotiated with ERG also includes the provision of
card management and settlement services for ten years.
The seven public transport agencies deliver services to approximately
3.1 million residents in the four-county Central Puget Sound Region
of Washington State, providing 130 million passenger trips per year
and collecting more than US$160 million in annual passenger revenue.
Additional functions such as toll collection, banking and electronic
purse can be added to the smart card at a later stage.
The contract is expected to be signed in early 2002, with the first
phase of imp
lementation commencing in 2003. Once the system is fully
implemented, it is anticipated that between 500,000 and 1 million
smart cards will be issued.
ERG's Chief Executive, Mr Peter Fogarty, said that ERG is very
pleased to have reached this point in the procurement process for
this major US contract.
"This is an important milestone for us because it provides further
proof that ERG's smart card technology has worldwide recognition as
being the best in its field.
"This pr
oject in Seattle will enable us to leverage our existing San
Francisco service bureau, which we set up to support our smart card
fare collection project in the Bay Area. The central service bureau
we have established in San Francisco will become the first in the
world to process transactions for multiple cities.
"The addition of the Central Puget Sound project to our San Francisco
and Ventura County (Los Angeles) projects will augment ERG's growing
presence in the US market.
"
Services to be provided by ERG over the ten year operating contract
include maintenance, cardholder support (call centre), card
procurement and distribution, clearing house services, financial
management, network management and revalue network support services.
Cardholders will have a variety of means to purchase and load value
on their cards, including both agency and third party retail outlets
(such as convenience stores), by mail or over the telephone, at
ticket vendin
g machines and through the Internet. The convenience of
"Autopay" will also be provided, whereby cards can be automatically
revalued through a pre-authorised charge to a credit card or bank
account, without any need for the cardholder to visit a revenue
location.
BACKGROUND INFORMATION
ERG Group
ERG Group is a world leader in the development and supply of
integrated fare management and software systems for the transit
industry and technologically advanced smart card system
s and
services. In 2000/2001, ERG's revenue totalled A$299.9 million. ERG
has achieved a compound annual sales growth rate of 32 per cent for
the past ten years and has established market leadership for its
integrated multi-application smart card management technology. ERG
is an Australian-based company listed on the Australian Stock
Exchange and is ranked in the Standard & Poor's-Australian Stock
Exchange Top 100 index.
THE PARTICIPATING TRANSPORT AGENCIES
Community Transi
t, Everett Transit, King County Metro, Pierce
Transit, and Sound Transit with Kitsap Transit and Washington State
Ferries having the option to join later.
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