Parallel Technologies Corporation (PTC)

Announce Independent Validation & Verification (IV&V) Service

Pittsburgh, PA
November, 1998

New service adds to Parallel's current Year 2000 Parallel Testing, legal and audit compliance and pre-renovation testing (triage) offerings

Parallel Technologies Corporation (PTC), a leading provider of Year 2000 testing services, has released an independent validation and verification testing service, reconfirming PTC's place at the forefront of Year 2000 technology.

The IV&V service is an important addition to PTC's Year 2000 testing services. Viewed as one of the pioneers of Year 2000 testing, PTC is already one of the leading suppliers of Y2K Parallel testing and legal and audit compliance services. PTC also was the first company to promote parallel testing in a pre-renovation environment as an aid for risk management and triage. Utilizing one of the largest, state of the art data centers in the USA, along with one of the most extensive private worldwide networks, PTC tests converted Year 2000 codes via a number of production simulations. This was conducted in a full Y2K compliant environment and moved back into production at a fraction of the cost of conventional testing methods in a fraction of the time. The IV&V service also makes use of some highly sophisticated tools which allow the application to be captured and instrumented at the client's site and then moved to PTC's data center for testing.

"Simply put, IV&V is the result of asking "Did you do the right thing?" and "Did you do the thing right?" asked Dan Grant, President & CEO of PTC. "Unlike other suppliers of IV&V out there that are simply rehashing their impact analysis offerings, we believe that testing is the key issue in any IV&V engagement. We are delighted to see that the industry is beginning to come to the same conclusion, prompted in part by the lawyers and auditors that have always looked to testing as the real key to compliance. We are also delighted that clients are beginning to adopt our testing methodology which we believe is the most time and cost effective technique available in the Year 2000 industry."

Headquartered in Pittsburgh, Pennsylvania, Parallel Technologies Corporation is a privately held company with offices in Livingston, NJ, and London, UK, that markets Year 2000 conversion and testing facilities, and related services. PTC's clients can achieve Year 2000 conversions and testing utilizing offsite facilities without affecting their existing production systems.