Applied Terravision Systems Inc. Announces the Acquisition of Acdat System Services, Ltd.

Apr 30, 2001, 01:00 ET from Applied Terravision Systems Inc.

    CALGARY, April 30 /PRNewswire/ - Applied Terravision Systems Inc. ("ATS")
 (CDNX: TER) announced today that it has acquired Acdat System Services, Ltd
 ("Acdat") for; $3,000,000 cash and 3,750,000 shares for an aggregate purchase
 price of $6,000,000 Canadian, including a positive working capital of
 approximately $900,000 resulting in a net acquisition cost of approximately
 $5,100,000. Acdat, an eight-year old private Calgary company, is on pace for
 Fiscal Year Ended August 01, 2001 Gross Revenues of $4.6 million, with an
 EBITDA of approximately 25 percent and Earnings after Tax of approximately 10
 percent. Based on this performance estimate the Acdat acquisition will be an
 accretive transaction for ATS shareholders with an approximate 7.5 percent
 increase in expected earnings on a fully diluted basis.
     Acdat's solutions offer today's progressive companies an efficient means
 of collecting, managing and reporting field production data.
     "With the completion of the acquisition of Acdat, Applied Terravision is
 the only company with a production management solution that starts at field
 data capture and ends at the financials," said ATS President and CEO Bob
 Tretiak. "The combined power and strategy of the merged company in conjunction
 with future development of the Acdat software with the ATS production/revenue
 accounting suite provides industry with a leading Production Management
 solution, serving the needs of both production operations and financial
 accounting from the same data source."
     "We are excited about the new ATS", said Acdat President Mel Konno. "Our
 combined technical skills, business skills and outsourcing capabilities will
 provide several key advantages to our existing and future customers in the
 flexible management of their production data and in the improved efficiency
 and lower operating costs."
 
     About Applied Terravision Systems Inc.
     --------------------------------------
     ATS provides proprietary enterprise e-Solutions, focusing on the
 Application Service Provider (ASP) and Business Function Outsourcing (BFO)
 delivery models. ATS's e-Solutions give customers the ability to manage
 financial, operational, ownership and asset management functions in the
 petroleum and trust management sections. The ATS customer base includes over
 600 companies worldwide. ATS was formed in Calgary, Alberta, in 1986 and is
 publicly traded on the Canadian Venture Exchange Inc. (CDNX) under the symbol
 "TER" with operating offices in Calgary, Dallas and Houston. This news release
 and more information are available at www.atsi.com.
     In accordance with the Safe Harbor provisions of the Private Securities
 Litigation Reform Act of 1995, Applied Terravision Systems Inc. cautions that
 statements in this press release which are forward looking and which provide
 other than historical information involve risks and uncertainties that may
 impact the company's actual results of operations.
 
 

SOURCE Applied Terravision Systems Inc.
    CALGARY, April 30 /PRNewswire/ - Applied Terravision Systems Inc. ("ATS")
 (CDNX: TER) announced today that it has acquired Acdat System Services, Ltd
 ("Acdat") for; $3,000,000 cash and 3,750,000 shares for an aggregate purchase
 price of $6,000,000 Canadian, including a positive working capital of
 approximately $900,000 resulting in a net acquisition cost of approximately
 $5,100,000. Acdat, an eight-year old private Calgary company, is on pace for
 Fiscal Year Ended August 01, 2001 Gross Revenues of $4.6 million, with an
 EBITDA of approximately 25 percent and Earnings after Tax of approximately 10
 percent. Based on this performance estimate the Acdat acquisition will be an
 accretive transaction for ATS shareholders with an approximate 7.5 percent
 increase in expected earnings on a fully diluted basis.
     Acdat's solutions offer today's progressive companies an efficient means
 of collecting, managing and reporting field production data.
     "With the completion of the acquisition of Acdat, Applied Terravision is
 the only company with a production management solution that starts at field
 data capture and ends at the financials," said ATS President and CEO Bob
 Tretiak. "The combined power and strategy of the merged company in conjunction
 with future development of the Acdat software with the ATS production/revenue
 accounting suite provides industry with a leading Production Management
 solution, serving the needs of both production operations and financial
 accounting from the same data source."
     "We are excited about the new ATS", said Acdat President Mel Konno. "Our
 combined technical skills, business skills and outsourcing capabilities will
 provide several key advantages to our existing and future customers in the
 flexible management of their production data and in the improved efficiency
 and lower operating costs."
 
     About Applied Terravision Systems Inc.
     --------------------------------------
     ATS provides proprietary enterprise e-Solutions, focusing on the
 Application Service Provider (ASP) and Business Function Outsourcing (BFO)
 delivery models. ATS's e-Solutions give customers the ability to manage
 financial, operational, ownership and asset management functions in the
 petroleum and trust management sections. The ATS customer base includes over
 600 companies worldwide. ATS was formed in Calgary, Alberta, in 1986 and is
 publicly traded on the Canadian Venture Exchange Inc. (CDNX) under the symbol
 "TER" with operating offices in Calgary, Dallas and Houston. This news release
 and more information are available at www.atsi.com.
     In accordance with the Safe Harbor provisions of the Private Securities
 Litigation Reform Act of 1995, Applied Terravision Systems Inc. cautions that
 statements in this press release which are forward looking and which provide
 other than historical information involve risks and uncertainties that may
 impact the company's actual results of operations.
 
 SOURCE Applied Terravision Systems Inc.