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PRO ann: Banks of Prophecys e-Foundation

Document date:  Mon 14 Aug 2000
Published:  Mon 14 Aug 2000 15:44:13
Document No:  126098
Document part:  A
Market Flag:  Y
Classification:  Progress Report - Other

PROPHECY INTERNATIONAL HOLDINGS LIMITED       2000-08-14  ASX-SIGNAL-G

HOMEX - Adelaide                                                      

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The ANZ Banking Group has signed a contract worth an expected $4
million with Australian-based software multinational Prophecy
International.

The Asset Finance division (AAF) of ANZ has selected Prophecy's
e-Foundation rapid application assembly technology as a key part of a
major new software development project.

AAF will use e-Foundation as the major component in the development
of a new Internet-based solution for its finance and investment
systems.

As well as supplying the object-oriented e-Foundation software,
Prophecy will deliver professional services to assist with the
project, including training ANZ staff within Australia and those on a
special software development team in Bangalore, India.

The project, which has its major delivery milestones in the second
quarter of 2001, is expected to generate $4 million in revenue for
Prophecy International. Ongoing services for this significant new
partnership are estimated to produce $1 million annually for
Prophecy.

Prophecy International is an Australian-based company that develops
and distributes software for large and complex organisations
globally. With more than 75 per cent of its sales overseas, the
company has more than 850 installed sites worldwide. 

The ANZ agreement is a major local endorsement for Prophecy's unique
technology, representing a significant milestone in the acceptance of
its world-leading e-Foundation software as the cornerstone of large
development projects.

Prophecy won the business against competition from overseas-based
multinationals by conforming to strict internal technical and
integration criteria. A successful "proof of concept" phase showed
the flexible capabilities of the e-Foundation technology. 

Major attractions were e-Foundation's rapid "time to market" to
deliver complex solutions, the ability for these solutions to be
easily adapted to new market opportunities and its ability to
integrate with core products in use by Esanda.

Prophecy International executive director Alan Greig said the
successful selection by ANZ Banking Group demonstrated the
world-leading nature of Prophecy's technology.

"ANZ was very impressed by our ability to quickly and easily
reconfigure the e-Foundation technology to meet their business
needs," he said. "This is a vote of confidence in Prophecy and its
e-Foundation technology".

"The software developed in this project has significant appeal
internationally. Prophecy and AAF have agreed to work together to
capitalise on these commercial opportunities."

For more details about Prophecy International, call executive
director Alan Greig on (08) 8364 4411 or visit
http://www.prophecyopen.com/