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Strathmore Takes US$1,000,000 Stake in Haht

Strathmore Takes US$1,000,000 Stake in Haht’s Global E-Commerce

Auckland – Wednesday, 26 January 2000 – Internet and technology investment company, Strathmore Group Limited (NZSE:SMR) today announced that it has invested US$1 million to secure stakes in Haht Software Inc and Haht Asia Inc, developers and regional distributors of leading business-to-business e-commerce Web applications.

North Carolina-based Haht Software is a leading provider of a new category of Internet software applications that enable companies to simplify and distribute information stored in enterprise systems to employees, customers and suppliers. Haht Asia, which has offices in Sydney and Tokyo, has agreements, the majority exclusive, to sell and service Haht applications in countries in East and South Asia, the Pacific and South Africa.

Strathmore will invest US$500,000 as part of a US$1.5 million funding round to expand the sales and support activities of Haht Asia. The investment will represent 9.11% of the company’s issued share capital when the finance round has been completed.

“We will take a position on the board of Haht Asia to directly assist further business penetration in the region,” says Strathmore Chairman, Phil Norman. “This will enable us to create additional shareholder value for Strathmore.”

As part of this investment Strathmore has also secured the opportunity to participate in the pre-IPO funding round for Haht Software Inc., led by San Francisco-based investment bank Chase, Hambrecht and Quist. Strathmore has invested US$500,000 out of a total funding round of US$15 million. Further information about Haht Inc is available on www.haht.com

“As a result, this is a strong mirrored investment into a regional opportunity leveraging off a US pre IPO investment,” says Norman.

“It meets the criteria we outlined in the investment strategy presented at last month’s AGM. We have taken a strategic stake in a fast-growing business in Australia/Asia and are also participating in an attractive US B2B e-commerce company pre-IPO. It also provides Strathmore with an opportunity to co-invest with leading US venture capital funds and investment banks.

“Haht’s products are already in global use,” says Norman. “With established partnerships with major international vendors, good management and proven business models, Haht is well-positioned in the high growth enterprise systems market. The placement addresses an opportunity in both e-commerce and information technology investment, two core focus areas for Strathmore.”

Haht Products and Customers

Haht’s e-Scenario software applications impact key relationships and transactions throughout the e-commerce life cycle. They integrate with existing IT infrastructure in real-time, providing a solid architectural foundation and an open framework for integrating best-of-breed components. They can be rapidly and cost-effectively deployed to Web-enable existing enterprise systems. Customers gain rapid e-business benefits and improved ROI.

The e-Scenario software solution set comprises the HahtSite application server platform, a high-end architecture, a rapid development environment and a full life cycle management tool for e-business that facilitates real-time integration between e-commerce sites and back-end enterprise systems.

Applications combine transaction capabilities with one-to-one content and can support personalised text, graphics and database content. They can be integrated “out of the box” with existing enterprise systems, including SAP R/3, and run on the HahtSite server to provide a strong platform for e-business expansion. Their flexibility and open-architecture preserves company investments in putting information on-line.

Haht has a base of over 500 HahtSite and e-Scenario customers spanning multiple industry segments including financial services, government, manufacturing, technology and telecommunications. Customers include AT&T, Deloitte and Touche, EDS, J.P. Morgan, Kimberley-Clark, Kohler, Lockheed Martin, Nortel Networks, Prudential, SAP, SABRE, Southwestern Bell, Starbucks and United Technologies.

About Strathmore Group Limited

Strathmore Group Limited is a technology investment company. It targets Internet, e-commerce and information technology companies with potential to deliver accelerated growth in shareholder value by competing in global markets. It provides finance, strategic advice and a network of relationships to assist technology companies to migrate internationally. It also manages a high-tech incubator fund that enables smaller companies to grow to the point where they are ready for such a migration.

ENDS

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