13 December 2000

Press Release: New Software Company ready for start-up Capital.

We wish to advise that Waitiri Capital has been mandated to raise start-up capital for Customer Information Technologies Limited (CIT). We believe that the customer relationship management (Customerite) software to be developed by CIT is an excellent opportunity to participate in the growing New Zealand IT sector. The Company is currently wholly owned and lead by Ian Mitchell who has over 30 years in the IT industry in New Zealand. Ian has previously served two terms as the President of the New Zealand Computer Society and more recently served as the CEO of PHAROS Systems Limited. Ian has vigorously researched the market in NZ and internationally and developed a software concept that we believe has the potential to become a leading software product worldwide. He already has four pre-sales commitments from potential IT customers.

The Company will put together a team of software developers all highly experienced in their fields to develop the Customerite software over a six month period. The software to be developed is based around the newly emerging Customer Relationship Management area.

Key features of this new software business are:-

Ø A team of highly skilled, motivated individuals with significant experience in international software development.
Ø A host of intellectual property including brand names, trademarks, domain names, employment contracts, relationships with intending customers, lease, unique business models/plans/processes.
Ø Forecast revenues to commence by month 4.
Ø A global market for software with initial focus on NZ, Australia and North America.
Ø Software will enable virtual operations – no staff – no premises – extended hours – allow tele-workers and sales people to always be working and to be close to their customers or to service customers in other time zones.
Ø No necessity for hardware; software can be fully hosted, added to a web site or brought in-house.
Ø Product support can be delivered worldwide at any time drawing on a knowledge base which is dynamically updated by every new question.
Ø Employee trust – 15% of the capital of the Company to motivate and reward performance.

For further information please contact Ian Mitchell at 09 528-3350 or 025 965-608.

Regards,

Ian Mitchell, FNZCS Ph: +64 9 528-3350 Mobile: +64 25 965-608