Jan 30, 2004

GoldSim Technology Group Forms New Company

Redmond, WA (USA) -January 31, 2004 - GoldSim Technology Group LLC, formerly a division of Golder Associates, an international group of engineering consulting firms, has been established as an independent company. The new company will continue to focus on providing state-of-the-art software, training and expert consulting to help organizations understand complex business, engineering and environmental systems and make better decisions in an uncertain world.

The company's flagship software product, GoldSim, and its associated consulting services revolve around the development, application and delivery of computer models that simulate the performance of complex systems in business, engineering and science. In general, the objective of such models is to simulate the future behavior of the system, and determine what can be done to improve its performance. These models are used to gain a diagnostic understanding of the system, ask "what if" questions about it, and evaluate alternative designs, policies, and plans. "GoldSim is particularly well-suited for quantitatively representing the uncertainty in real world systems. This allows our customers to gain a much better understanding of the range and likelihoods of outcomes for the various alternative plans and policies they are considering," says company President Ian Miller.

The current applications of the software are quite broad, ranging from evaluation of the safety of radioactive waste management facilities to economic analysis and long term strategic planning for manufacturing companies to prediction of the spread of infectious diseases. The GoldSim software is currently used by government organizations worldwide, including in the US, the UK, Germany, Japan, Spain, and France, to support strategic planning and policy-making with regard to complex environmental problems. The software is also being used to support risk management, strategic planning and policy analysis in many other industries, including mining, health care, energy, manufacturing and finance.

"We are very excited about the new company" says Miller, "as it will allow us to better focus on the continued development of the software, give us the flexibility required to interact with strategic partners, and help us to continue to attract top-notch software engineers and consultants."