Palace Entertainment Extends Contract With Elcom Nation's largest family amusement and waterpark operator Extends Contract with Elcom for its Hosted eProcurement Solution, PECOS Internet Procurement Manager NORWOOD, Mass., July 13 /PRNewswire/ -- elcom, inc., the wholly-owned B2B eCommerce solutions subsidiary of Elcom International, Inc. (OTC Bulletin Board: ELCO and AIM: ELC and ELCS), today announced that Palace Entertainment, the nation's largest family amusement and waterpark operator, has elected to extend its contract with Elcom for an additional three years. Under the terms of the contract extension, Elcom will continue to provide Palace Entertainment with on going access to PECOS Internet Procurement Manager, Elcom's remotely- hosted, full circle, source to pay eProcurement system. Dale Ciciora, Palace Entertainment's Chief Financial Officer, said, "We are pleased to extend our contract with Elcom. We have been able to automate many aspects of our procurement process without the need for a large capital investment or any significant involvement of our internal IT organization. Our total cost of ownership has been very low because of PECOS' sophisticated administration system, which enables our personnel to control all aspects of the system without any professional services involved by Elcom or third party technical resources. The stability and responsiveness of the system has been exceptional and the continued evolution of PECOS has enabled us to address all categories of our spend. The net result has been very positive for our business." Robert J. Crowell, Elcom International Inc.'s Chairman and CEO, added, "In the current economic climate, controlling costs is an important aspect of running a successful business and we are pleased that our low cost, pay as you go subscription based pricing delivers high value to our clients. Palace Entertainment has proven that you do not need to spend millions of dollars in licensing fees and professional services to deploy a world class eProcurement system." PECOS Internet Procurement Manager(TM) (PECOS.ipm) is Elcom's best of breed eProcurement solution that automates the procurement process from sourcing through financial settlement. Hosted by Elcom on its company owned and operated data center, PECOS.ipm delivers high value at a low cost of ownership by eliminating the need for buying organizations to invest in infrastructure and B2B eCommerce transactional gateways. Offered on a subscription basis, PECOS.ipm delivers benefits to enterprises of all sizes and is redefining the way eProcurement systems are implemented. A unique aspect of PECOS.ipm is a comprehensive, self-service administrative system, which empowers designated business managers with the ability to define and refine business policies and rules without the need for third party technical assistance. As a result, buying organizations can embrace a continuous improvement approach to the implementation of procurement best practices with the confidence that they are in complete control of the system. About Palace Entertainment Palace Entertainment is the nation's largest family amusement and waterpark operator with over 15 million annual visitors and operates over 34 parks in the U.S. Palace Entertainment is located in Newport Beach, California. Additional information can be found at http://www.palaceentertainment.com/ About Elcom International, Inc. Elcom International, Inc. (OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:and ELCS) (BULLETIN BOARD: ELCO and AIM: ELC and ELCS) , operates elcom, inc., an international B2B Commerce Service Provider offering affordable solutions for buyers, sellers and commerce communities to conduct business online. PECOS, Elcom's remotely-hosted flagship solution, enables enterprises of all sizes to achieve the many benefits of B2B eCommerce without the burden of infrastructure investment and ongoing content and system management. http://www.elcominternational.com/ STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT Except for the historical information contained herein, the matters discussed in this press release could include forward-looking statements or information. All statements, other than statements of historical fact, including, without limitation, those with respect to the Company's objectives, plans and strategies set forth herein and those preceded by or that include the words "believes," "expects," "targets," "intends," "anticipates," "plans," or similar expressions, are forward-looking statements. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that the Company's expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties which could cause the Company's future results to differ materially from those anticipated, including: (i) the Company's history of ongoing operating losses; (ii) the overall marketplace and clients' acceptance and usage of eCommerce software systems, specifically the Company's PECOS eProcurement and eMarketplace systems, and demand therefor by public sector organizations in the U.K., the impact of competitive technologies, products and pricing, particularly given the substantially larger size and scale of certain competitors and potential competitors, control of expenses, revenue growth, and corporate demand for eProcurement and eMarketplace solutions; (iii) the consequent results of operations given the aforementioned factors; (iv) the possibility that the Company's revenues may not reach the level necessary to support positive cash flow and if so, the Company might need to raise additional working capital to fund operations in the future; (v) the availability and terms of any such funding to the Company, if available, and (vi) other risks detailed in the Company's Annual Report on Form 10-K, filed on May 10, 2004, as amended, in its Form 10-QSB for the first quarter of 2004 filed on May 14, 2004, and from time to time in its other SEC reports and statements. The Company assumes no obligation to update any of the information contained or referenced in this press release. DATASOURCE: Elcom International, Inc. CONTACT: Investor Relations: Web site: http://www.elcominternational.com/ http://www.palaceentertainment.com/

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