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Prophecy Opens Up Eastern Europe
Released 15 November 2000

Australian software multinational Prophecy International has dramatically extended its penetration of the rapidly evolving Eastern European software market through two major agreements.

Prophecy Europe has concluded an agreement to deploy its financial software at Sofia Water, the privatised provider of drinking water, water for industrial use, and drainage and water environment protection in the capital city of Bulgaria.
Prophecy has also appointed the systems integration arm of the listed Altec Group to distribute its e-Foundation software in Romania, Bulgaria, Albania and Moldavia. Founded in 1985, the Altec Group, listed on the Athens Stock Exchange, is an IT conglomerate with 1800 staff, US$250m turnover and US$50m profit.

The Altec company, Sysware, is also assisting with the translation of Prophecy's software into Cyrillic, which further enhances its prospects in Eastern Europe.

Prophecy International's e-Foundation suite of financial and enterprise integration applications enable clients to rapidly design and deploy robust enterprise-wide solutions that handle both traditional and e-business transactions.

The announcement of these sales successes in Eastern Europe coincides with strong performance for Prophecy in other regions, including Asia Pacific and the Americas.
In Australia, Prophecy International recently announced it had signed an agreement worth $4 million with ANZ Bank. The ANZ Asset Finance group will use Prophecy's e-Foundation software to develop a new generation of Internet-enabled applications for its finance and investment systems.

In the US, Internet travel agency is using the ProphecyOpen software to manage finances for its integrated online and offline travel group.

Prophecy International executive director Mr. Alan Greig said Eastern Europe was a natural progression for the company. "The economic reconstruction of this region is requiring a lot of privatisation and corporatisation, for which software is vital," he said.

"Although they previously used computers extensively, most applications were built in-house, whereas now they are more open to purchasing packaged applications.

"The flexibility of ProphecyOpen and its multi-language capability means it is able to integrate with both existing legacy applications and, further down the track, e-business systems that may be planned."

Sofia Water is also implementing Chrystal, a UK built Human Resource application that was developed using Prophecy's e-Foundation software technology.


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