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Prophecy Gets Good Oil with ME Ally
Released 11 April 2000

Soaring oil prices are good news for ASX-listed software multinational Prophecy International which expects a significant boost to sales from a recent Middle Eastern partnership with Al Yousuf Universal.

As a strategic Business Partner, Al Yousuf Universal, the leading e-business solutions provider in the Middle East, will represent Prophecy throughout the Arab region, covering countries including the Gulf Emirates, Saudi Arabia, Kuwait and Sri Lanka.

Al Yousuf Universal and Prophecy will work together to "Arabise" Prophecy's enterprise software solutions to meet the needs of local institutional and corporate customers in the utilities sector. The massive increase in oil prices during the past year means major expenditure on utilities infrastructure is proceeding in the region.

Prophecy International Chief Executive Ed Reynolds said the agreement was significant because it provided a prominent and proven partner in the region.

"This partnership gives us representation at the highest level with one of the most successful and diverse group of companies in the region," he said.

Al Yousuf's participation in Prophecy's global reseller network is the latest recognition of Prophecy's international appeal. Last month Hong Kong Shanghai Bank announced it had joined the Prophecy share register with a holding of more than five per cent.

"Prophecy presents the next level of technology which other companies are striving to achieve," said Atif Yusuf, general manager of Al Yousuf Universal, at the signing ceremony that sealed the partnership, "It currently offers the only ERP solution in the world that is object-oriented. In real terms, this allows Prophecy to run highly efficient and sophisticated solutions faster and at a fraction of the cost."

Prophecy is the world leader as a provider of software solutions that allow utilities companies to web-enable their services, both internally and to their customers. Prophecy has a client base covering 24 countries. More than 10 million consumers worldwide are being serviced using Prophecy solutions.


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