Harris acquires MCS Spectrum and their billing and financial solutions for utilities and local governments

Niagara Falls, New York October 14, 2002 — Harris Computer Systems has announced the acquisition of the complete MCS Spectrum business operation and product suite.

MCS is a leading provider of software solutions for utilities and local government and its robust product suite includes a customer information and billing system (CIS), a full featured financial management system as well as local government software.

Harris will continue to operate and manage the 350 utility and local government installations from the New York office as a division of Harris. The acquisition demonstrates Harris’ commitment to serving publicly owned utilities and local governments.

Jeff Bender, President of Harris, said, “This acquisition represents an important first step in our strategy to grow and expand our serviceable markets. Harris has a history of success in servicing utilities operating in mid-sized markets with effective CIS and financial management systems.

“However, the majority of the North American public power and water utilities markets are concentrated in segments servicing less than 5,000 metered connections. The Spectrum product line provides a robust technology solution with high functionality delivered at a price that can meet the fiscal constraints of these local distribution providers.”

Jerry Canada, Vice President of the new Spectrum division, explains the value Harris contributes to the Spectrum business line.

“Harris brings the resources, experience, and business alliances from operating at a national level to a segment traditionally serviced by small, regional players. The Harris commitment to service, investment in R&D, and long term customer relationships provides a strong foundation on which to grow in an under serviced market.”

Under the terms of the deal, Harris acquires all of the operating and non-operating assets of MCS Spectrum, including 11 employees, the complete suite of Spectrum products – utility billing, fund accounting, payroll, property tax billing and collections, municipal courts management, and an inventory management system – and all in process research and development.

Harris is a provider of utility Customer Information Systems (CIS) billing, and financial management software. Since 1976, Harris has focused on providing feature turnkey solutions to public power and water markets throughout North America.

For further information on Harris Computer Systems visit www.harriscomputer.com, or call the contacts below. For more details on MCS Spectrum visit www.mcsspectrum.com.

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