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Richmond Software Press Release

London, 18th October 2004

Richmond Software Limited, the Treasury solutions supplier, has announced a buoyant 15% increase in turnover for the fiscal year ended 31st March 2004. According to Kevin Grant, Director of New Business Development, “We are continuing to deliver a strong double digit growth rate, and our world-wide sales pipeline indicates that we will sustain or perhaps exceed our 2004 performance levels throughout the current year.”

Richmond’s recently signed new clients include:

· British Vita
· Grosvenor
· Sharp Electronics Corporation
· Taylor Nelson Sofres
· TI Automotive
· Warner Music

And the following existing clients have contracted for significant expansion of their existing Richmond solutions:

· Bank of Ireland
· Chelsea Building Society

Richmond has expanded its professional team with eight new hires, to ensure that the needs of new and existing clients are anticipated and fulfilled. Ailsa Gollan has joined as a Senior Consultant, bringing with her a wealth of experience in accounting, treasury and treasury technology. Three new executives have joined our award-winning client support team; they will be located in London and Munich. The Development Team has expanded by two new programmers, who bring additional .net skills and experience into the group. Nirmala Raju has been appointed Head of the Quality Assurance Department.

The company’s market leading position in the provision of treasury management technology solutions recently received strong independent validation through Richmond Software being recently voted number 1 in three of the six TMI 2004 Professional Awards for Excellence in Treasury Management – Best Treasury Workstation categories:

· Best Cash Management Solution;
· Best ASP / Technology Outsourcing Provider;
· Best Client Support Services Provider.

At their September meeting, Richmond Software’s Board of Directors expressed satisfaction with the company’s continued organic growth. The Board have endorsed the Executive Directors’ Strategic Plan for commercial and technological evolution, designed to carry Richmond Software through the next five years as a successful, independent, global financial software company.