Washington, DC August 1999 -- In a recent issue of the Federal Computer Week, Propsect Technologies' outstanding work is highlighted with the Federal Maritime Commission (FMC). In an in-depth article it describes that, “[in the previous state] . . . every time a carrier signs a deal to transport goods for a shipper, it must file that contract with the FMC. A preliminary estimate by the FMC shows that carriers stand to save $2.5 million over the next five years as a result of the change to Internet filing.”

Specifically, the article goes on to say:

“The Federal Maritime Commission has decided to eliminate a dial-up system that carriers have used for the past five years to file service contracts and change to an Internet-based system that will enable them to use off-the-shelf software to file their contracts in standard word processing formats.”

“The FMC announced the decision to move to the Internet-based Service Contract Filing System (Servcon) in a notice published in late July in the Federal Register. “

“Under the rule, the agency will complete the transition from the Automated Tariff Filing and Information system to the new Internet system by Oct. 1, at which point it will discontinue ATFI.”

The article describes:

“. . . the new Internet-based application, developed by Prospect Technologies Inc., is expected to reduce the amount of paperwork and to make it possible to manage the increasing number of service contracts”.

Bill Lewis, President and Chief Executive Officer of Prospect Technologies, said Servcon uses ‘some of the latest and most tested and tried’ security methods, including many of the same technologies used by the Defense Department. In addition, Servcon information that moves over the Internet is protected by the latest encryption technology. “

"It was a requirement of the law that we be able to do this in a secure manner," Lewis said, adding that Prospect Technologies’ chief technologist, Chris Williams, gained much of his expertise during nine years at the National Security Agency.”

Prospect Technologies has experienced explosive growth in the past year by more than doubling its base of clients which now includes the U.S. Coast Guard, Americas Society, Council of the Americas, Department of Defense, SAIC, Herb Gordon Auto World, The Third World Foundation, National Presbyterian School, and Princeton University.