JADE SOFTWARE CORPORATION NEWS RELEASE

10 August 2007

Christchurch, New Zealand

New Era for JADE Stadium

Jade Software Corporation (Jade) today announced that it had agreed to relinquish its naming rights to Jade Stadium. Jade’s relationship with the stadium dates back to 1998 when the company agreed to buy the naming rights to the former Lancaster Park, a deal that enabled funding for the development of the new stand to be secured.

Dr Rod Carr, Jade’s Managing Director, said “Jade’s association with the stadium has worked well for both parties. With the stadium’s management about to embark on the next chapter of development; it is a good time for Jade to step aside and allow the repackaging of sponsorship and funding arrangements.

“We are particularly pleased that AMI, another Christchurch based company, will take over the stadium’s naming rights.

Jade’s sponsorship helped make the redevelopment of the stadium that began in 2000 a reality. That project, which saw the replacement of the old embankment with the new West Stand seating over 16,500, ensured the stadium became the South Island’s premier sports and entertainment venue.

Dr Carr said Jade was proud to have been involved with the stadium. However, given the nature of our business, naming rights were now likely to be more valuable to a business which has a retail brand and a domestic mass market.

The stadium’s management announced plans last year to increase the stadium’s seating capacity by 7,000 to 43,000 by replacing the Number 1 and 3 stands with a new East Stand to support the city’s role in the 2011 Rugby World Cup and the 2015 Cricket World Cup.

“Modernising the east-side stands and the other changes planned will increase the stadium’s seating capacity and improve its amenities. This will further enhance the stadium’s reputation and the substantial contribution the complex makes to the Canterbury economy. Securing the most cost effective funding package is in the community’s interests,” Dr Carr said.

ENDS

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