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US Prospects Lure Prophecy CEO
Released 8 August 2001

Multinational software innovator Prophecy International has appointed a US-based Chief Executive Officer to align its corporate structure with its strongest growth markets.
Prophecy's new CEO, Bruce Lakin, former Australian General Manager of Toshiba Information Systems Division, has undertaken a major corporate restructuring of the organization since he took up his post in early April.

Listed on the Australian Stock Exchange, Prophecy International has achieved significant international success with its pioneering Rapid Application Assembly software technology, e-Foundation.

Distributed in more than 20 countries in all major time zones, e-Foundation enables large enterprises to design, develop, and deploy mission-critical web-enabled business applications in record time by assembling "Lego-like" business objects.

Mr. Lakin, who oversaw Toshiba ISD Australia triple in size and increase market share by 35 percent, will commence his US tenure in Denver, Colorado, where Prophecy has a number of significant clients, including the State of Colorado.
"Prospects in the North American marketplace are particularly healthy," he said.

"As a result, Prophecy is expanding its direct sales resource in the territory to cover the US marketplace. This allows us to derive maximum benefit from the very large sales opportunities available in the Northern Hemisphere."

Prophecy has enjoyed success stories with companies in North America including EDS, Central Bank of Barbados, Missouri Basin Municipal Power Agency, Texas Natural Resources and Conservation Commission, and Bridgeport Hydraulics.

Mr. Lakin joins Prophecy with strong experience in managing multinational organizations. Previously, he has held positions including CEO of Sequoia Systems Asia Pacific, CEO of Wordperfect Pacific, various senior positions within UNISYS and as sales director with Honeywell Information Systems.

As well as expanding its North American sales and marketing activities, Prophecy is actively canvassing opportunities for its e-Foundation technology in the Government, Healthcare, Banking, Finance, and Insurance industries.

Prophecy International is also completely redeveloping its e-Foundation Rapid Application Assembly environment with the Java programming language. This will enable e-Foundation and e-Foundation-based applications to run on all major computing platforms.



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