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Prophecy Appoints New CEO
Released 14 March 2001

Australian-based software multinational Prophecy International (ASX:PRO) has aligned its corporate structure with its strongest growth markets by appointing a new Chief Executive Officer located in the United States.

Prophecy's new CEO , Bruce Lakin, former General Manager of Toshiba (Australia) Information Systems Division (ISD), will take up his post in early April, and will initially work from Prophecy Americas current head office in Denver, Colorado. Bruce Lakin comes with extensive industry experience, having in 5 years grown the local Toshiba business by some 200% and increased market share to 35%.

Previous positions held by Bruce include CEO of Sequoia Systems Asia Pacific, CEO of Wordperfect Pacific, various senior positions in marketing, general management and sales within UNISYS and as sales director with Honeywell Information Systems. Bruce is a very experienced executive in the IT sector and comes with excellent credentials of success within large multinational companies.

In announcing these changes today, Chairman Bob Shaw said "The Board recognizes the need to increase our presence and sales penetration in the major global market sectors and we have aggressive growth plans. Bruce comes with an impressive track record of driving and achieving growth".

"The changes reflect Prophecy's focus on specific segments of the market where our products stand out, on its push to raise the profile of the company through increased pro-active marketing, and on strategic partnerships".

"Our e-Foundation product suite has appeal across the enterprise with technically advanced e-Business solutions for the Web to the Back-Office. In addition e-foundation will open up partnership opportunities to address specific vertical markets across the world. The combination of Bruce's leadership, expanded marketing activities, managed key alliances and our new and unique Java based products place us in a strong position to achieve the growth plans for the company".

Bruce Lakin said "I am excited about the potential of Prophecy. The product set has universal appeal and applicability. It will be successful in the selected global markets and this will result in outstanding growth for Prophecy in the near future."

Outgoing CEO, Ed Reynolds will take on responsibility for worldwide strategic agreements and partnerships in his new position of Director Global Partnerships.

As part of the corporate restructure, Executive Director ,Alan Greig has also assumed new responsibilities, including Asia-Pacific regional sales. Corporate marketing initiatives, including product direction will be Alan's responsibility. This area will be getting a major boost in Prophecy's drive for growth.

In its recent half-year financial results, Prophecy International announced it is expanding the sales and marketing activity, particularly in the Northern Hemisphere to fully realise the revenue potential of its products.

Prospects in the North American marketplace are particularly healthy and as a result Prophecy is expanding its direct sales resource in the territory to cover the West Coast and the North East regions, so that maximum benefit can be derived from the very large sales opportunities that are available in the Northern Hemisphere.

The Board believes that by moving its unique products to the Java environment, a very much larger market will open up for the company and is determined to provide the structure and staffing that will maximize these opportunities, particularly in the larger overseas territories.



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