$1.7 Million Contract Expands Long-Term Client Relationship
Dallas, October 3, 2005 -- Tyler Technologies, Inc. (NYSE: TYL) announced today that the city of Warwick, Rhode Island has selected Tyler's Assessment and Tax Division to conduct a full revaluation of 43,000 real and personal property parcels and to provide upgraded assessment administration software. The total value of the contract is approximately $1.7 million. The City's revaluation will begin in October 2005, with appraisal and software implementation work continuing through April 2007.
Warwick is the second largest city in Rhode Island, with a population of over 85,000. Founded in 1642, Warwick is comprised of more than 30 historic villages.
The new agreement expands Tyler's successful relationship with the city of Warwick, which began in 1997 when Warwick purchased Tyler's Integrated Assessment System (IAS). This new contract provides for a move to Tyler's state-of-the-art iasWorld browser-based software, along with the addition of a new module to manage personal property.
Tyler's iasWorld software utilizes superior technologies to provide industry-leading functionality for data maintenance, field operations, customer service, and interface between offices and third-party applications. iasWorld was most recently chosen as the statewide solution for New Jersey's integrated assessment and tax administration needs. Warwick's upgrade to iasWorld will result in improved integration and streamlined processes between City departments.
Andrew Teed, president of Tyler's Assessment and Tax Division, said, "We have enjoyed an excellent relationship with Warwick for the past eight years, and we appreciate the confidence the City has shown in Tyler continuing that relationship. There is nothing more important to us than building client relationships by consistently providing outstanding service."
Tyler's Assessment & Tax Division is the nation's largest provider of mass appraisal and property tax software and reassessment outsourcing services. Since its founding in 1938 as the Cole Layer Trumble Company, the Division has provided appraisal outsourcing services and property tax administration software to over 1,200 assessing jurisdictions in the United States and Canada.
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler's client base includes nearly 6,000 local government offices throughout all 50 states, Canada, Puerto Rico and the United Kingdom. Forbes Magazine named Tyler one of the "200 Best Small Companies" in America in 2004.More information about Tyler Technologies can be found at www.tylerworks.com.
Tyler Technologies, Inc. has included in this press release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economic conditions, changes in the budgets and regulatory environments of the Company's customers, risks associated with the development of new products and the enhancement of existing products, the ability to attract and retain qualified personnel, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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