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Prophecy Builds on Strong BASIS
Released 4 March 2003

Prophecy International has enriched its appeal to the multi-billion dollar utilities market with a powerful customer management product aimed at energy and water companies.

The Australian based software multinational (ASX:PRO) announces the acquisition of basis2 a web-enabled billing and customer management solution that allows utilities to dramatically lower the cost of serving their customers.

Prophecy has acquired the intellectual property rights to the product from Brisbane based business partner, Helix Systems, with which it has had a joint venture partnership in the development of utility solutions for the past eight years. The acquisition was funded primarily through the issue of 1.2 million Prophecy shares and a capped royalty on future basis2 licence sales.

basis2 provides Prophecy with an opportunity to build new revenue streams from the deregulated and multi-product utilities markets. The very large worldwide utilities market offers enormous potential for a functionally comprehensive Customer Information System (CIS) built on technology from Oracle, the world's second largest software company.

The Energy Information Administration Division of the US Department of Energy states that USA retail electricity sales in 2001 exceeded US$210bn, while the USA Water and Sewerage market was worth US$32.1bn in retail sales. As billing and customer management systems are a core requirement for utilities, significant investment in new systems is justified especially in a competitive market. Licence fees are often in excess of A$1million with services to match.

The launch of basis2 will leverage the extensive utility experience Prophecy has developed selling and implementing its internationally successful utilities product, BASIS, which is used by organisations in Australia, Asia and the US.

Prophecy International CEO Alan Greig said the availability of basis2 provided an exciting upgrade path for the company's existing BASIS customers. "Our customers have been keen to know our development plans for BASIS, having enjoyed the rich functionality that it offers. We are very pleased to announce basis2 today" he said.

"Not only is basis2 designed for our current BASIS clients with migration services provided by Prophecy" continued Mr Greig, "but also other utility organisations will greatly benefit from its Customer service emphasis and its applicability to the multi-product and deregulated markets."

Mr. Greig said the need for utilities to deliver better customer service but at a lower cost was a key driver in the design of basis2. "Expectations for customer service constantly increase, so basis2 is the flexible tool that enables utilities to meet and exceed those expectations," he said.



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