Mr. Adam Zaghloul reports

NTG CLARITY ANNOUNCES WORK VALUED AT $8.5M CAD

NTG Clarity Networks Inc. has followed up its strong second quarter results by disclosing that it has received new orders for a total of $8.5-million in new work and renewals from new and existing customers in the financial, government, information technology and telecom sectors.

Especially noteworthy in these orders is a three-year project to provide resources to a large system integrator. As the trend of rapid digital transformation continues across the Middle East, NTG Clarity is continuing to win work from others in the IT space which recognize its ability to mobilize large teams of experienced professionals quickly and at a competitive price. The breakdown of the work is as follows, with all customers in the Middle East:

• $7.5-million for new work on a three-year project to provide on-site resources to a new customer, a large system integrator (the growth margin for this project is estimated to be 41 per cent):
  • The company has received the purchase order for the first year for $2.27-million, and it will receive two other POs in one year and two years from now;
• $690,000 across multiple POs to provide on-site and offshore resources for existing customers in the government and financial sectors;
• $370,000 to provide customization of the company's NTGapps platform for an existing customer in the telecom sector.

"It's very exciting that another large system integrator is awarding a large three-year project to NTG," said Adam Zaghloul, vice-president, strategy and planning, of NTG Clarity. "With this $7.5-million multiyear project, NTG is expanding its major customers base and taking advantage of the rapid growth in the IT sector in the Middle East."

With the announcement of its second quarter results last week, with this exciting news, as well as with consideration of other contracts in their final stages of negotiations, it is reviewing its targets and guidance for the year and expects to be able to release updates in the near future.

About NTG Clarity Networks Inc.

NTG Clarity's vision is to be a global leader in digital transformation solutions. As a Canadian company established in 1992, NTG Clarity has delivered software, networking and IT solutions to large enterprises including financial institutions and network service providers. More than 700 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading enterprises.

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