Nexus Telocation Systems project with IMServ could be cancelled

GIVATAYIM, Israel, Aug. 22, 2002 — Atlanta Gas & Light Co. (AGL) has given Invensys Measurement Services LLC (IMServ) a notice that it was terminating their agreement, NexusData Inc. and Nexus Telocation Systems Ltd. announced Thursday.

The parties are in discussions about the notice, which was issued July 27. If the agreement is terminated, the consequences could be severe for Nexus’ business, the company said.

Nexus Telocation Systems Ltd. develops manufactures and markets low energy and cost effective wireless communications and location based information systems through the application of digital spread spectrum technologies.

Nexus Telocation security services business is performed through business partners in Israel, Venezuela, Argentina, and Russia . NexusData, a fully owned subsidiary of Nexus Telocation Systems Ltd., provides low-cost, wide area data collection and information management for the utility industry. The company offers an end-to-end automatic meter reading solution, which includes wireless meter modules, wide area receivers and data management center.

SOURCE: Nexus Telocation Systems Ltd.


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