MXL LIMITED. 2002-10-10 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++
MXL has signed an agreement with Softline Company for the
distribution of MXL's eMinerva into the Russian Federation.
Softline is one of the leading suppliers of licensed software to the
Russian and Commonwealth of Independent States. Softline has been
operating since 1993 and has been awarded status of Microsoft Gold
Certified Partner. Softline has a distribution network of over 500
software dealers throughout its geography and has a catalogue
circulation list of 30,000 to I/T and business decision makers. The
signing of this agreement can be attributed in some way to the
recently announced partnership between MXL and Microsoft Business
Solutions.
The Russian and contiguous markets are vast with potential business
opportunities measured in the thousands. MXL expects to initially
sell 200 licenses per year which would generate $6m in license fees
p/a. Ongoing enrolment fees, should the targeted license sales be
met, would generate $12m p/a in total over three years.
Work will begin in November 2002 promoting eMinerva. into the Russian
market. MXL has targeted the first quarter 2003 for the release of
the Russian translated version of eMinerva. This will be the first
version of release 4 of eMinerva to be translated from English.
Updating on otheractivities, MXL continues to work with Microsoft on
a number of strategic issues with a preliminary proposal already with
one state government in Australia for its school education system. If
successful this will generate $6m in annual enrolment revenues. A
second government tender is due shortly. Discussions are also nearing
conclusion with a Microsoft partner as a potential distributor of
eMinerva in Australia. MXL remains on track for the integration of
the Microsoft general ledger package for beta testing in January
2003. The completed package will be the first flexible web-based one
step product for financial and management control of education
institutions.
A number of other substantive issues are under negotiation both in
Australia and internationally and these will be announced once they
have reached finality.
R Clements
CEO
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