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July 12, 2008

Mincom Limited Reports Record Profit

Software revenues up 96%

DENVER--(BUSINESS WIRE)--Mincom Limited, Australia’s largest commercial software developer and global provider of software to asset intensive industries, today reported a record full year profit of $22.171 million before tax and non-recurring costs including acquisition related transaction costs for the year ended 30 June 2007, almost double the 2006/07 financial year result of $11.311 million.

The company recorded total revenues from all sources of $230.153 million, a 15.8% increase over the 2006/07 financial year result of $198.814 million. This included full year 2007 software revenue of approximately $62.707 million, up 96.3% on the previous year (2006/07: $31.951 million).

This result was driven by strong performance across all regions of the company, and represents the company’s second year of record results in its 28-year history.

Mincom Chief Executive Officer Richard Mathews said, “We are very proud of this result and our continued trend of strong growth and performance across all our regions and core verticals of mining, utilities, government, transportation and defence.”

“Our growth is a direct result of increased sales to both large national and off-shore customers who understand how our products and services can facilitate the business outcomes they are looking for across their operations and on a global scale,” Mr. Mathews said.

Among some of the regional highlights for the financial year:
  • Australia: Mincom secured major new contracts with the Australian Defence Force, Queensland Government, Victorian Government, Transgrid, Rio Tinto Coal and Western Power.
  • North America: Mincom secured major new customers including Valley Metro Rail and East Bay Municipal Utility District and extended its relationship with Newmont Mining and Xstrata Nickel signing new contracts.
  • Latin America: Mincom secured major new customers in Xstrata Copper, Sunshine Argentina and Minera Quellaveco.
  • Eurasia: In Russia, Mincom added new contracts with Giproshakht Limited, Vorkutaugol and extended its partnership with Norilsk Nickel.
  • South Africa: Strong growth was experienced with Mincom’s Intelligent Mining Solution products into Mopani Copper Mines and Lonmin Platinum.
Mr. Mathews said, “During the financial year, we completed three company and technology acquisitions of Conversant, Karjeni and JKMetAccount solution, adding valuable development resources to our organization and strengthening our solution footprint in our core verticals.”

“Mincom’s strong business performance and innovation also saw us recognized as Australian Exporter of the Year for Information and Communications Technology (ICT) and Queensland’s smartest company at the Premier of Queensland’s Smart Awards. These awards underline our company philosophy which is all about partnering with our customers and continually seeking better solutions and ways of working.”

“We will continue to formulate strong industry-focused strategies while using our newly acquired financial strength to continue to invest in our products, markets and customers,” he said.

In May 2007 the company was fully acquired by EAM Software Finance Pty Ltd - a subsidiary of Francisco Partners, a leading global technology-focused private equity firm.

About Mincom

Mincom Limited is an international company based in Brisbane, Australia with nearly 30 years experience in providing business solutions to asset intensive industries such as mining, utilities, transport, defence and government in more than 40 countries.

The company has more than 1,250 staff in 18 offices across Australia, North America, South America, South East Asia, Africa, and Europe. For more information about Mincom, visit: 

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