US Technology Giant Recognises Kiwi Excellence

SPECTRUM RESOURCES LIMITED
NEWS RELEASE

6 July 2000

US Technology Giant Recognises Kiwi Excellence

NZSE listed software investor Spectrum Resources Limited has scored a home run with its first acquisition, WEL Technology Limited.

WEL Technology, an innovative New Zealand software company, has secured a million dollar licensing deal to supply specialist software to one of the world's largest technology companies. The deal with US software giant, Lucent Technologies (formerly part of AT & T), is a major breakthrough for the Hamilton-based company. WEL Technology is a software development company specialising in complex billing solutions and Customer Management Software. The company caught the attention of Lucent while exhibiting at a US trade show. Spectrum Resources Limited says WEL Technology will integrate its complex Customer Management Software, PV2 (www.pv2.com) into Lucent's flagship billing product, the award-winning Arbor/BP. The licensing deal is worth $NZ1.33 million. Spectrum executive director Rob Levison says this will be the first time that WEL Technology Customer Management Software solutions have been used in the telecommunications area, and their first use outside the Utility area.

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"This marks the start of a whole new business sector for WEL Technology," he says.

"It also signals the launch of a cooperative understanding between WEL Technology and Lucent.

"WEL Technology's success vindicates the current Spectrum business model, whereby market dominating vertical software companies are scaled into larger markets like the United States, attracting the attention of companies like Lucent."

Lucent is the 7th largest technology company in the United States, the 12th largest stock in the Standard & Poor's 500 index and has a current market capitalisation of US$195 billion or NZ$414 billion. The company has around 140,000 employees in 90 countries and territories.

Spectrum Resources Limited is a New Zealand company dedicated to investing in the B2B e-commerce area with particular emphasis on vertical market software. It is a late stage investor, taking majority or control positions in investee companies to add financial, marketing and management expertise.

FOR MORE INFORMATION, CONTACT: Rob Levison Director Spectrum Resources Limited Phone: (09) 374 4223 Mobile: 021 954 004 Email: rob.levison@spectrumnz.com

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