Nucleus Software and GMAC sign licensing deal

New Delhi, February 23, 2005: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: NSEL), a leading global provider of integrated software products for banks and financial institutions, today announced that it has entered into a licensing arrangement for its flagship product FinnOne TM with General Motors Acceptance Corporation’s international operations.

Under the terms of the contract, Nucleus Software has granted a Corporate Software License for FinnOne TM to GMAC’s international operations for a rollout in Europe, Latin America and Asia Pacific.

Commenting on the contract, Vishnu R Dusad, Managing Director, Nucleus Software said, "We are extremely happy to announce this landmark deal for our software product, which is the result of hundreds of man years put in by our Software engineers. Nucleus Software has focused for years on product development for the BFSI vertical and had earlier implemented the product in the Asia Pacific region for GMAC. The proposed rollout across Europe, Latin America and Asia Pacific regions would encompass mature markets and further enhance our understanding of the processes and product functionality requirements across the globe."

"Nucleus is a proven supplier to the financial services industry, as supported by the composition of their blue chip client portfolio. Their systems development technology is deemed to be one of the key enablers to support GMAC’s objective of implementing best-practice systems and processes across its International Operations" says John Robert Jones, Vice President GMAC. "We expect an even better quality in our customer service and a reduction of our operating expense", adds Jones.

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