Richmond Software Press Release

London & Munich, 11th April 2005

Richmond Software are pleased to confirm that the Schulte Group has selected the Odyssey solution to provide the company’s seven global ship management centres with comprehensive treasury functionality across its business activities, with an emphasis on deal and cash management, liquidity forecasting, reporting, interfacing and IFRS/IAS39 compliance.

Odyssey will be utilised by multiple users based in Germany, the UK, Cyprus, Hong Kong and Bermuda to provide a true global cash picture.

Kevin Grant, Director at Richmond Software, commented, "Richmond Software are delighted to add the Schulte Group to our wide and varied client base. Yet again Richmond has been selected due to the quality of it products, the experience of its staff and our determination to provide a level of service to our clients not equalled by our competitors."

Garry Vernon, Project Manager of the Schulte Group added "We have really put Richmond to task through this selection process and are pleased to say that all the reasons why Richmond appealed to us originally still stand true. The honest and open partnership we have built allows us to focus on a successful implementation."

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