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Prophecy of Global IT Success Fulfilled at 20-Year Milestone
Released 20 February 2000

Australian software innovator Prophecy International this week marks 20 years of worldwide software success with a celebration at its Adelaide-based headquarters.

South Australia's Minister of Information Economy, Dr Michael Armitage, along with the State's industry leaders, will attend the event, on Wednesday, February 23.

Prophecy's 20th birthday celebration pays tribute to a company that has built a strong reputation worldwide for its innovative business software solutions.

Founded in South Australia in 1980, Prophecy has grown from a company of two people to employ more than 80 staff in offices in Australia, the United Kingdom, the United States, Singapore and Malaysia.

Its internationally successful software products are developed at its worldwide headquarters in Adelaide and distributed globally through an international distribution network that employs more than 1000 people and covers more than 20 countries.

The company's ProphecyOpen Business Software, Rapid Application Assembly and Utility Billing software solutions are installed at more than 850 sites for some 350 customers worldwide.

Prophecy International, which listed on the Australian Stock Exchange in 1998, has shared its global success with its shareholders, many of whom are located in SA. Since listing, the company's share price has increased from an issue price of 75 cents to a peak of more than $5.20.

Last year Prophecy International achieved worldwide revenues of $13.2 million from strong sales of Prophecy's flagship ProphecyOpen Business Software and its breakthrough ProphecyOpen Object Framework development software.

Also, Prophecy International secured its largest client in its home state when the South Australian Government selected Prophecy from a field of multinational suppliers to build its Emergency Services Levy (Fixed Property) Collection System.

Prophecy chief executive officer Ed Reynolds said the company had built a strong reputation for innovation as well as globally successful software during the past two decades.

"We have built intellectual and entrepreneurial wealth as well as financial success from a base in South Australia," he said.

"In the ESL project, we competed head to head with overseas software companies, yet our software was selected as offering the best value for Revenue SA.

"This is a fabulous lesson for anyone who thinks Australia has to follow technology trends. It shows Prophecy is leading the world with its software."



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