update of earnings for 2003

Will the strength in price continue tomorrow???


RECKON LIMITED 2003-06-19 ASX-SIGNAL-G

HOMEX - Sydney

+++++++++++++++++++++++++
As outlined in the Chairman's address at the Annual General Meeting
held last month, during 2003 Reckon has been focused on consolidating
the turnaround in performance achieved in 2002.

In particular, this improvement in the performance of the Company is
being driven by:

* The release of new versions of existing products;
* Offering new products and services to our customers;
* Educating the accountant market about the benefits of our products
and services;
* Targeting small businesses as they embrace business for the first
time;
* Increasing the product offering to medium sized businesses; and
* The ability to concurrently release the same version of major
products developed by Intuit as are sold in the US and Canada.

In addition to the above, Reckon has continued to improve the
efficiency of its operations and reduce product and administration
costs generally.

Reckon continues to be confident that these initiatives will have a
positive impact on the company's performance for the six months to 30
June 2003. The Company advises that, based on internal management
accounts, it expects the net profit after tax for the six months
ending 30 June 2003 to be in the order of $2.2m-$2.4m. This compares
with the actual net profit after tax for the corresponding period
last year of $0.245 million (excluding a $1.002 million one off
adjustment due to a change in accounting policy a reported net
profit after tax of $1.247 million).

Also as flagged in the Chairman's AGM address, the Company advises
that it is on track to release the following during the second half
of the year:

* A new version of Payroll Premier, the most widely used stand-alone
payroll solution in Australia.
* Version 6 of QuickPOS, our point of sale solution that has been
developed and designed specifically for small to medium-sized
retailers.
* CashBook 2004.
* QuickBooks Enterprise Solutions, a new product designed specially
for medium-sized enterprises of between 20 and 150 employees.

For further information, please contact:

Clive Rabie
Reckon Limited
(02) 9577 5946
[email protected]