General Motors Awards Logistics Contract to NuTech Solutions, Inc.

    DETROIT & CHARLOTTE, N.C.--Aug. 13, 2002--NuTech Solutions, Inc., a provider of predictive analytics and profit optimization technology products to Global 1000 companies, announced today the signing of General Motors , as a customer for the company's Vehicle Distribution System (VDS).
    The announcement comes after successful beta testing of the system at two additional major auto finance organizations, and marks the general availability of the Vehicle Distribution System (VDS) software application.
    As an adaptive, self-learning system, NuTech's Vehicle Distribution System (VDS) is constantly taking actual values, such as auction prices and transportation costs, and adapting to the new data for a more precise distribution method.
    "Every leasing company in the world is interested in maximizing the resale value of off-lease vehicles," said NuTech Solutions' CEO Matthew Michalewicz. "Based on a myriad of adaptive technologies such as genetic algorithms, ant systems, and evolutionary strategies, VDS is able to optimize the distribution of off-lease vehicles so that profits are maximized."NuTech's other recent successes include the signing of several key customers, as well as the appointments of Lech Walesa, the former President of Poland, and Hugh McColl, Jr., the former Chairman and CEO of Bank of America , to its board of directors.

    About NuTech Solutions, Inc.

    NuTech Solutions, Inc. provides predictive analytics and profit optimization software products for Global 1000 companies in the financial services, manufacturing, and retail industry, as well as for government organizations. Based in Charlotte, N.C. and with offices around the world, NuTech's products produce measurable increases in financial performance for its users. The company's current client roster includes Ford Motor Company, Bank of America, Siemens, BB&T, Chevron, BMW, Beiersdorf, U.S. Department of Defense, Corning, the Polish National Air Force, FujiTec, and Unilever.

    Forward-looking (safe harbor) statement

    Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes", "plans", "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.