Jade Secures Multi-Million Pound Deal In The UK

PRESS RELEASE FROM JADE
30 January 2002

Jade Secures Multi-Million Pound Deal In The United Kingdom

Christchurch, New Zealand. 30 January 2002. Jade Software Corporation CEO Sir Gil Simpson announced that Skipton Building Society, the 6th largest building society in the UK with assets of £6.2 billion stg, have made a strategic decision that all of their future computer systems will be based on Jade technology.

"The first major project is a multi-million pound transition of their mainframe systems to JADE, which will deliver the Society significant savings in ongoing operating costs and provide a web-enabled information technology platform," said Sir Gil.

The decision also incorporates the systems requirements of Homeloan Management Limited, a wholly-owned subsidiary of the Society and the largest outsourcer of mortgage processors in the UK.

John Goodfellow, Chief Executive of Skipton Building Society, said it was an important decision for their organisation. "Our board of directors has spent considerable time and effort analysing the future IT strategy and requirements of our organisation, and believe Jade is the right partner with the right technology with which to move forward."

"We have worked with Jade over the last three years to build all of our new systems and the outcome has been very good. The Society now has the confidence that Jade has the right technology to take our organisation into the future".

The Society, who have been using Jade's technology for three years including applications for Mortgages, Investments and Customer Relationship Management, are now Jade's largest UK customer.

Jade are also in the process of developing a new branch automation system for the Society's 80 branches throughout the UK.

"The Society is an organisation that understands that the effectiveness of information technology must be judged primarily on how it helps them better meet the needs of their customers," said Sir Gil.

"As we continue our expansion into the United Kingdom, an organisation of the Society's size and reputation is extremely important to us as it proves we have the products and the people to develop large computer systems that deliver real value to our customers."

ABOUT SKIPTON BUILDING SOCIETY

Skipton, the UK's 6th largest building society, is one of the nations established financial services providers. Founded in 1853, Skipton Building Society continues to offer a range of attractive mortgage and investment products and is dynamic in its approach to growing its business. In particular, Skipton has embarked upon a successful diversification strategy, leading the way in "modern mutuality", benefiting members not only through group activities, but through product and services enhancements.

Over the years the Society's customer base has grown to accommodate the needs of many thousands of people, with 80 branches across the UK, and Skipton Group is now comprised of 16 businesses including the Society.

ABOUT JADE

Jade Software Corporation Limited is an international software company based in Christchurch, New Zealand. It produces an enterprise application development suite called JADE, and enterprise software products for market sectors such as healthcare, higher education, ports and banking.

A privately owned New Zealand company, Jade employs 350 people in New Zealand, Australia and the United Kingdom. The company's founder and Chief Executive is Sir Gil Simpson.

In November 2001, Jade announced an initial round of $12.2 million in financing from the issue of convertible notes to a number of New Zealand and offshore investors and an intention to offer shares publicly by early 2003.

For more information visit www.discoverjade.com

ENDS

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