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e-Foundation Creates New Prophecy
Released 13 December 2000

Australian software multinational Prophecy International (ASX:PRO) has revealed that most of its revenues now come from providing its e-Foundation e-commerce infrastructure for companies.

The company's breakthrough Rapid Application Assembly technology has unlocked entirely new markets for its products, both in Australia and internationally.

In the 1999-2000 financial year, some 80 per cent of its sales revenues came from either licensing of Prophecy's e-Foundation e-commerce business solutions infrastructure or from associated services. In past years, the company had generated virtually 100 per cent of its revenues from sales of its Prophecy Financials software, now Prophecy Classic.

Prophecy e-Foundation provides tailored e-commerce and back office solutions to dynamic growing enterprises through innovative object technologies. Clients include ANZ Bank and the South Australian Government in Australia, State of Colorado in the US, Barclays Bank in Barbados and Sofia Water in Bulgaria.

In line with its new emphasis on its e-Foundation products, Prophecy has commenced a major global marketing drive to build awareness of its new capabilities and has extended its executive management responsibilities to deliver this new message.

Executive director Alan Greig has taken responsibility for Global Marketing and Asia-Pacific sales while Luke McCauley has joined Prophecy as its Australasian Sales Director. Lawyer Paul Blewett has also joined the company as Group Legal Counsel, taking over responsibilities from co-founder Brian Calvert who has retired, moving to a non-executive directorship with the company.

Mr. Greig said Prophecy's new markets included telecommunications, banking and finance, insurance and defence industries. "e-Foundation has changed the fundamental nature of our business," he said.

"Whereas we started out selling just financial packages to large enterprises, these days we provide technology, tools, applications and services to broader markets.

"e-Foundation is about e-commerce enabling enterprises to deploy front-to-back solutions that are designed either from the ground up or to incorporate existing legacy information systems."

Prophecy's push for profile will see it taking a stronger "corporate citizen" role locally and overseas and particularly extending its sales presence in the US market.



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