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First UK Sale of basis2 and Positive Cash Position

Prophecy International Holdings Ltd. advises that the provisional FY2003-2004 results continue the progress the company has been making back toward profitability. A positive cash flow for the year is the first sign of the upward trend and provides a good base to start the new financial year.

In line with the new financial year's budget predicting an upward trend for revenue is the announcement of the first basis2 sale in the UK. Cambridge Water has selected the basis2 Billing and Customer Information Systems from Prophecy International. The systems will be delivered and supported by our Business Partner, Imass Ltd, who have over 60 person-years of billing experience and are one of the largest dedicated Utility IT teams in the UK. The selection is against competition from the two most popular products currently in use in UK water-only companies.

Martin Greasley, Cambridge CFO comments:

" Imass and Prophecy approached us with a new and exciting product that immediately impressed us with its scope and modern technology. It is clear to us that the product offers facilities to manage customers, meters and revenue that can help us meet the challenges facing UK water companies and to deliver the service our customers expect. We are reassured by the commitment, depth of experience and knowledge demonstrated by Imass and Prophecy and the fact that we have had a good relationship with Imass for a number of years."



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