<PAGE> 1
EXHIBIT 99
August 2, 2000
Analytical Surveys, Inc. Pfeiffer Public Relations, Inc.
Michael Renninger Geoff High
Chief Financial Officer 303/393-7044
[email protected] [email protected]
ANALYTICAL SURVEYS RECEIVES EXTENSION TO WAIVER AGREEMENT
FROM SENIOR LENDERS
COMPANY ALSO RECEIVES PRESTIGIOUS AWARD FROM U.S. GEOLOGICAL SURVEY
INDIANAPOLIS, Indiana -- Analytical Surveys, Inc., (ASI) (Nasdaq National
Market-ANLT), today announced that its Senior Lenders have extended to September
30, 2000, the Waiver Agreement ASI received in June related to its bank credit
facilities. The previous Waiver Agreement was set to expire July 31, 2000.
"This extension is an important step in our financial and operational recovery
program," said Norman Rokosh, a corporate turnaround expert who was recently
hired by the Company as president and CEO. "We are making significant progress
in our efforts to develop and implement a successful recovery plan for ASI and
our Senior Lenders are abreast of our efforts. We believe this extension is a
vote of confidence in our strategy, and we expect that we can honor the current
terms of our credit facilities."
ASI also announced it has been recognized by the U.S. Geological Survey (USGS)
as a recipient of its prestigious "On Time Delivery Achievement Award." In
commending ASI for its performance, the USGS noted that "Analytical Surveys'
consistency has been demonstrated throughout the current five-year Digital
Orthophoto Quadrangle (DOQ) contract and is exemplified by the highly visible
Lehi, Utah Winter Olympics project." The USGS further noted that "Analytical
Surveys delivered the finished DOQ products for this project two months early
without any production rejections."
"We're very pleased to be working with the USGS and proud of the team for this
important recognition," Rokosh said.
Analytical Surveys is an industry leader in providing customized data
conversion, digital mapping and consulting services for the spatial data
markets. Geospatial data is used for a variety of applications, including the
creation of geographic information systems (GIS). A GIS is a high-resolution,
large-scale, richly detailed "intelligent map" that allows users to input,
update, query, analyze and display detailed information about a geographic area.
Geographic information systems are widely used by
<PAGE> 2
utilities, state and local governments, federal agencies and commercial
businesses to manage massive infrastructures effectively, to improve operating
efficiencies and to analyze future demand for facilities. The Company's
traditional markets have been utilities and state and local governments. The
Company also is expanding its target markets by offering a broad new range of
services.
THIS IS THE LAST ASI NEWS RELEASE THAT YOU WILL RECEIVE VIA FAX. TO IMPROVE
EFFICIENCIES, ASI IS TRANSITIONING ITS FAX LIST TO AN E-MAIL DISTRIBUTION
SYSTEM. IF YOU WOULD LIKE TO CONTINUE RECEIVING NEWS RELEASES, PLEASE E-MAIL
YOUR REQUEST & E-MAIL ADDRESS TO [email protected] OR CALL ALICIA ALEXANDER
AT 303-393-7044.
Certain statements made in this news release are forward-looking statements
within the meaning of the Private Securities Litigation Act of 1995. Results may
differ materially from the Company's expectations. A number of uncertainties and
other factors could cause actual results to differ materially from such
forward-looking statements, including, but not limited to, the possibility that
the Company will not be awarded contracts in the numbers, for the amounts, or at
the time that the Company currently expects, and therefore, that overall
contract volume does not increase. The forward-looking statements are also based
on assumptions related to the growth of the Company's consulting services, as to
which there can be no assurance. A more detailed description of factors that
could affect the Company's financial results are included in the Company's
Annual Report on Form 10-K and other filings with the Securities and Exchange
Commission.
###
