Jade builds Australasian HR and Payroll business

3 October 2007

Christchurch, New Zealand

Jade builds Australasian HR and Payroll business through acquisition of Empower Masterpay

Jade Software Corporation Limited (Jade) announced today that it had acquired all the shares in Adelaide based, Australian HR and Payroll Services provider Empower Masterpay Pty Limited.

Jade Managing Director Dr Rod Carr said Jade had been providing HR and Payroll services in New Zealand for nearly 20 years. Its clients include Toll NZ, the Department of Conservation, Housing New Zealand, New Zealand Trade and Enterprise, the New Zealand Exchange Limited (NZX), Fuji Xerox and many other Government, Local Government and private sector organisations.

“Our decision to expand in Australia in a sector we are already involved in and to do so through acquisition is consistent with our overall strategy to grow organically, through channel partners and by acquisition in selected markets,” Dr Carr said.

Empower Masterpay has over 160 customers across Australia including David Jones, Just Jeans, RM Williams, Tasmania Government, ASX and Reuters, and manages the payroll for over 400,000 Australians.

The Chief Executive of Empower Masterpay Pty Ltd, Mr. Alan Greig, will continue as Chief Executive and no immediate changes are expected to staffing, branding or the core technology or service offerings.

Mr. Greig said, “The link with Jade will provide both organisations with the ability to service companies with staff on both sides of the Tasman and brings together significant industry experience in designing, implementing and servicing enhanced services such as employee self service, e-recruitment, complicated rostering and sophisticated management information to support talent management.”

Ms. Karen Dale, who manages JADE Star, Jade’s HR and Payroll business, will join the Board of Empower Masterpay and will work closely with Alan Greig to ensure customers and staff benefit from the association.

Ms Dale said, “The combined business will have a staff of 50, annual revenues approaching $10 million and the critical mass to invest further in product and market development in the Australian market.”

ABOUT JADE SOFTWARE CORPORATION

Jade Software Corporation (JSC) is a specialist technology services company with more than 25 years experience in helping organisations quickly respond to business, customer and supplier demands.

We create targeted solutions that enable responsive businesses to rapidly manage specific and complex information requirements. By combining our expertise and agile development methodology, we’ve enabled customers worldwide to deliver business-critical information that provides strategic impact with the reliability and robustness that comes from a mainframe computing heritage.

More than 3,000 organisations across Europe, North America, and Asia Pacific use Jade solutions to manage their specific information requirements. Our customers span multiple sectors, including logistics, shipping, finance and insurance, national security, health, education, human resource and payroll management, and enterprise risk assessment.

A privately owned New Zealand based company, Jade has offices in New Zealand, Australia, the United States, Canada and the United Kingdom.

For more information visit: www.jadeworld.com

ENDS

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