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Strathmore Invests in Global Online Promotions

Strathmore Invests in Global Online Promotions

Auckland – Tuesday, 1 February 2000 –Strathmore Group Limited (NZSE: SMR) today announced that it has agreed to invest $550,000 in Global Online Promotions (GOLP), with an option to increase this to $2 million to acquire a stake of up to 33.3 percent.

Other shareholders of GOLP are private investors including Cullen Investments, senior management and a privately owned Melbourne-based technology company.

GOLP is an Internet e-commerce initiative that provides online solutions to the retail sector. The product, currently under development in New Zealand and expected to be ready to market in three months, has considerable potential to expand in international markets.

GOLP’s founders and management team include Chairman, Chris Aiken, one of the original founders of ComputerLand and a director of several technology and retail companies, and Director, Marketing and Strategy, Chris Berryman, who has considerable international experience in the e-commerce sector.

“In order to protect a first-to-market advantage we will not provide further details about Global Online Promotions until product development is completed and partnership agreements have been finalised,” says Phil Norman, Chairman of Strathmore Group. “We expect to be able to do this early in the second quarter.”

About Strathmore Group Limited

Strathmore Group Limited is a technology investment company with approximately $11 million of shareholders funds. 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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