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MoneyWorks Hits 100 Store Target In Canada

MEDIA RELEASE

MoneyWorks Hits 100 Store Target in Canada

Auckland - June 25 2007: Takapuna based Cognito Software, developer of the MoneyWorks range of accounting software, today announced that it had reached the milestone of having its products available in over one hundred retail outlets throughout Canada - including the prestigious Apple stores.

"We are four months ahead of sales forecasts and extremely pleased with the acceptance that MoneyWorks is getting in Canada. It has been a hectic 6 months, setting up an infrastructure and support systems to handle the increased volumes," said Dr. Grant Cowie, Managing Director of Cognito Software.

Cognito Software first announced its international expansion plans in October 2006 when it entered a strategic marketing and sales agreement with Argyle and BroadStreet Inc. - a company that specialises in developing technology sales channels in North America.

It has taken on responsibility for the Canadian and American channel distribution for the complete line of MoneyWorks products - including MoneyWorks Cashbooks, Express, Gold and Datacentre.

Dr. Cowie went on to say, "This was a critical step for us, as we transition from a New Zealand company with a primary focus on the Australasian market to one that exports and markets on the world stage."

Mr. Robert Broadhurst, Manager of Canadian Operations, commented, "We have only just begun. The MoneyWorks family of products is being broadly accepted because they work - they are seriously good accounting solutions for small to medium sized businesses. This is not a hard sell; quality at a reasonable price is a winning combination."

Cognito Software Ltd. first developed its accounting software solutions in 1992.

"With an installed base of over 15,000 registered customers in over forty countries, we felt it was time to formally bring MoneyWorks to North America. Complimenting our efforts, we are now shipping Version 5 with many new international features including multi-currency. Our unique strength remains that we provide very serious accounting software solutions to the full market of Macintosh- and Windows-based businesses, from small home office through to twenty plus concurrent users. We are very happy with our progress to date and eager to embrace continued expansion," said Dr. Cowie.

ENDS

About MoneyWorks

First released in 1992 for Apple Mac computers, MoneyWorks has evolved into a powerful, cross-platform business management platform for small to medium business. MoneyWorks products are designed to inter-operate with other systems (such as FileMaker Pro, Excel, Access, Delphi), making MoneyWorks a natural accounting hub for larger, integrated systems. MoneyWorks products are now used by more than 15,000 organisations in over 40 countries.

About Cognito Software

Cognito Software is based in Auckland, New Zealand and launched the first MoneyWorks accounting system in February 1992. Designed from the ground-up to provide the best possible GST support for both data entry and GST reporting, MoneyWorks products are localised or self-localising for GST/VAT in Australia, New Zealand, Canada (including support for Provincial Sales Tax), U.S.A, Nepal, South Africa and the U.K. or self-localising for GST/VAT in Australia, New Zealand, Canada (including support for Provincial Sales Tax), U.S.A, Nepal, South Africa and the U.K.

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