Jade Secures Contract With UK Mortgage Servicer

JADE SOFTWARE CORPORATION PRESS RELEASE
For immediate release
Christchurch, 14 May 2004:

Jade Secures Million Dollar Outsourcing Contract With Premier UK Mortgage Servicer

Following the successful transition of its core systems to the JADE platform, Homeloan Management Limited (HML) - one of Britain’s largest third-party financial service providers handling assets to the value of over $NZD58 billion - is now contracting IT development to Jade Software Corporation.

As part of an ongoing project with HML Jade will resource and manage a team of JADE programmers in New Zealand, capitalising on the team’s experience with the technology and competitive rates, as well as its close cultural ties and shared business values. The time difference, which allows overnight development for next-day testing in the UK, will also significantly reduce development and implementation time and therefore costs for future JADE projects.

“The decision to outsource to Jade follows an assessment of all options including sourcing development from India. Jade offers the best ROI through the provision of a total package including top quality, mentored JADE programmers and round the clock development productivity at little or no risk,” says HML IT Director, Chris Wood. “Our proven track record with Jade means we are confident the New Zealand developers are productive and creative and can help us to hit the ground running.”

Comprising one manager and six JADE developers, the team will be based at the Jade Development Centre in Christchurch, utilising the office facilities and provided with servers and secure network connectivity to cater to ongoing requirements as specified by HML. With an initial 12-month contract, the move to outsource ensures enforced standards and increased levels of requirement specifications, improving any future development of HML’s highly complex, mission-critical JADE systems.

Jade successfully completed a multi-million dollar contract with HML earlier last year following the organisation’s decision to convert its existing core LINC systems, running on mainframes, to the highly flexible JADE platform, significantly reducing data processing costs, while improving efficiency and service to its clients..

Jade has been involved in IT development work for UK companies for two decades and operates predominantly within the financial services, health and logistics sectors. This outsourcing announcement marks another in a string of significant deals in the UK for Jade, with clients including Skipton Building Society and English Welsh and Scottish Railways, relying on JADE technology to enhance their ability to create, implement and support their applications.

Jade’s new contract also showcases New Zealand’s outsourcing capabilities, and leverages the recent ‘Outsource2NZ’ initiative, designed to promote the country’s exporting potential. Launched at the Gartner Outsourcing & IT Services Conference in London last month, Outsource2NZ, comprising a co-operative of major players in the New Zealand IT industry, administered by ITANZ with strong support from the New Zealand Government.

JADE technology has provided financial and other organisations, in the UK and world wide, with all the benefits of running their businesses on a single platform while reducing risk and overhead costs. For more information visit www.jadeworld.com

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ABOUT JADE SOFTWARE CORPORATION

Established in 1978, Jade Software Corporation is an information technology research and development organisation, with more than 20 years' experience supplying enterprise scale software solutions to large businesses and government organisations. The company produces; JADE - an integrated computing platform, products for the Healthcare, Higher Education, HR and Payroll, Ports and Shipping sectors, Systems Management, and provides Custom Development Services. A network of distributors and channel partners sells the company’s products and services to companies throughout Asia-Pacific, Europe and North America.
A privately owned New Zealand company, Jade employs over 300 people throughout New Zealand, Australia, the United States and the United Kingdom. The company's CEO is Dr Rod Carr and founder and President is Sir Gil Simpson.

For more information visit: www.jadeworld.com

ABOUT HML

Homeloan Management Limited is the UK’s foremost provider of systems and process outsourcing solutions to the mortgage sector. Handling assets of £21.5 billion for over 30 blue chip clients, HML is currently based in Skipton, North Yorkshire and employs over 950 people. It was formed in 1988 and is a wholly owned subsidiary of Skipton Building Society.

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