Reliability expertise key in EPCOR's selection of Ivara

Burlington, Ontario, January 28, 2002 -- Ivara Corporation, a world leader in reliability driven maintenance, announced today an agreement with EPCOR Utilities Inc., based in Edmonton, Alberta, Canada. In this partnership with EPCOR Distribution and Transmission, and EPCOR Water Services Inc., Ivara will provide a complete reliability driven maintenance solution, which includes software and consulting services. This solution will support EPCOR's move to the next level of maintenance effectiveness, focusing on reliability.

"Ivara is very pleased with this partnership and we are looking forward to supporting EPCOR as it focuses on reliability to achieve its corporate goals," said Bill Shaw, president and CEO of Ivara Corporation. "EPCOR is one of Canada's top providers of energy and energy-related products and services. With Ivara's reliability driven maintenance solution, EPCOR will be well positioned to further leverage these competitive advantages."

EPCOR will be utilizing Ivara's unique reliability software (Ivara.EXP), along with its reliability consulting services and Enterprise Asset Management software (Ivara.EAM).

"Before choosing Ivara, we evaluated the leading maintenance software suppliers in the market," said Kevin Brown, vice president and chief information officer of EPCOR. "Ivara's focus on reliability within maintenance created an opportunity for EPCOR to quickly impact its strategic objectives. Ivara provides a unique combination of reliability expertise and enabling software technologies that we believe will help us to continue to distinguish EPCOR as a premier service provider."

"EPCOR was also impressed with the high level of satisfaction among Ivara's customers," continued Brown. "Ivara understood our needs and they directly demonstrated how they could support EPCOR's reliability focus and help us achieve our corporate objectives and support future requirements."

"EPCOR's partnership with Ivara is a great endorsement of our belief that asset reliability is now seen as a key requirement for success among asset intensive companies worldwide," said Shaw. "Leading industrial companies now look to maintenance to provide strategic benefits. Those that embrace a reliability focus will be the leaders of tomorrow."