ICONZ and X3 Agreement Major Step Forward

Media Statement

4th September 2006

ICONZ and X3 Strategic Agreement A Major Step Forward For NZ Software Development Company

X3, the Auckland-based expense management software development company has signed a distribution and hosting agreement with Asia Pacific hosting services company ICONZ. Under the deal ICONZ www.iconz.co.nz has agreed to host and distribute the X3 Expense Management Application www.x3corp.com . The initial targets for the software are ICONZ’s 45,000 customers throughout Australia and New Zealand.

ICONZ Chief Executive Officer Michael Spencer said `X3 is an ideal fit for ICONZ. We have a range of e-commerce applications but nothing in the Expense Management sector. We see significant growth opportunity within this sector’

X3 Director Peter Tanner added: `This is a major first for us. X3 is a software developer rather than a marketer so the skills and distribution reach that ICONZ offers as a strategic partner is a perfect fit for us.’

The agreement enables X3 to continue the development of new modules such as the soon to be released Mobile Phone Management Module. This module will take care of the time consuming work of allocating phone charges to customers and cost centres. ICONZ, with its renowned hosting capabilities, will provide a robust and secure facility with complimenting technical services.

ENDS

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