looking good

One of Australia's most successful software development companies,
Technology One, said today it had signed nine new contracts in the
month of December, contributing to a total of 23 new clients signed
for the half year. This result made the month one of the strongest
ever in number of new sales.

Of particular interest was the company's first sale to a major
Victorian Government agency, the Environmental Protection Agency
(EPA), where Finance One is replacing Oracle. This sale represents a
major step forward for Technology One's campaign to provide its
products to the Victorian State Government that has, until now, been
effectively closed to other suppliers of financial software

Another important Government contract achieved was the Public Trustee
Queensland, the largest public trustee in Australia, which did not
follow the State Government's mandated SAP direction in deciding that
Finance One was a better fit for their organisation.

Over the six months the company further increased its dominance in
the local government market with new business from Baulkham Hills
Council, Marlborough District Council (NZ), City of Burnside, City of
Port Adelaide/Enfield, Tamworth City Council and the City of
Stirling.

Also recently achieved were new deals for Student One with Insearch,
an Australian-based international education supplier, and the
Australian Graduate School of Management (AGSM) signing on for the
software.

General commercial was also very strong with new business signed with
high profile organisations such as Red Rooster, Prime Infrastructure
and the Salvation Army.

The overseas markets continued to perform well with two new clients
signed in New Zealand and one new client and significant upgrades for
established clients in Malaysia. Of particular significance was the
further progress into the New Zealand local government market with a
sale to the Marlborough District Council.

Other new clients during the first half include:

* State Services Commission (NZ)* State Records SA
* BP-Valley Fuel Ltd * Telwater Pty Ltd
* Enertrade * Access Queensland
* Harbourside NZ * Australian Ethical Investment
* Teliti Computers Malaysia * Australian Wine & Brandy Corporation

According to the company's CEO, Mr Adrian Di Marco, "We are now
seeing some results from the pipeline we have built up, with clients
committing to their new software before the end of the year."

"Our sales team have shown great determination and skill to overcome
the current market conditions, breaking into new markets such as
Local Government in New Zealand, strengthening our dominance in
Australia's Local Government market and continuing the growth in the
new, but very promising market sectors such as Retail, Health and
Utilities."

Mr Di Marco said the company was on track at the half year to meet
general market consensus forecasts for the full year.

"In times like these it is those companies with solid foundations
such as reputation, quality, commitment to service, experienced and
committed employees, and cash in the bank that will prosper when the
market turns around."

Further information: Adrian Di Marco, CEO, Technology One Ph:
(07) 3377 7300