RNS Number:9320T
ServicePower Technologies PLC
07 January 2004



                         SERVICEPOWER TECHNOLOGIES PLC

                       ("SERVICEPOWER" OR THE "COMPANY")

                                 Contract Award

ServicePower, the recognised market leader in artificial intelligence based,
field service scheduling applications, today announced it has signed a major
agreement with General Electric Consumer & Industrial, referred to as GEC&I; a
business unit of the General Electric Company, by which ServicePower and GEC&I
will develop an innovative state-of-the-art system for processing and managing
GEC&I's warranty claims and to manage the dispatching of work to key segments of
GEC&I's independent servicers across the US.

Since 2001, ServicePower has been providing state-of-the art scheduling software
for GEC&I's employed field service technicians. ServicePower will now expand its
relationship with GEC&I by providing warranty management solutions. The signing
of this agreement heralds significant step forward for the business and provides
an important underpinning for the growth of ServicePower.

Further details of the contract are as follows:


* it is estimated the contract will generate revenue in excess of 10 million
pounds over a 5-year period with the revenue stream starting from February 2004;

* it is the largest contract award in the history of the ServicePower Company
and provides a decisive breakthrough in ServicePower's service contract
scheduling model;

* ServicePower will soon begin managing services despatches for part of GEC&I
major appliance, consumer electronics and personal computer service needs, a new
business area for ServicePower;

* GE and ServicePower will together develop a step improvement of GE's digital
Eta service dispatching system which, when implemented, will offer 10,000 third
party servicers, and major manufacturing companies, a more efficient means of
managing their consumer service

* Chris Smith, previously General Manager of GEC&I Warranty Management, has
agreed to join ServicePower as CEO of this new business. He will be recruiting
other senior executives from the warranty industry to ensure the Company has the
quality and depth of management to ensure this project is a success.

The US market for an electronic claims processing and dispatch system to
independent servicers is huge; research shows 40% of all service work done in
the US is carried out by independent servicers. The Directors believe it will
give the Company the opportunity to demonstrate the "Fulcrum" business concept
to manufacturers and independent servicers across the US, with the support of
GEC&I.

David Brisco, CEO said, "the signing of the agreement with GEC&I is a
significant event for the Company as it gives ServicePower the opportunity to
become the major service supplier to the independent servicer marketplace in the
US; in fact the company has already signed a Memorandum of Agreement with
another major US appliance manufacturer. I expect to announce further details
within the next few weeks. This new business opportunity will mean ServicePower
will evolve from a software supplier to a total service provider with its
attendant regular monthly revenue and cash".

This gives the Directors confidence for 2004 and beyond and the Directors look
forward to further updating the market in the near future.

Note: ServicePower refers to the company and SERVICEPower refers to the product.



Contacts:

David Brisco, Chief Executive Officer            Tel: 0161 476 2277
ServicePower Technologies PLC
Barry Welck non-executive Chairman               Tel: 07831 396539

Tom Price/Michael Brennan                        Tel: 020 7071 4300
Evolution Beeson Gregory Limited




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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