Local Authority Software Provider Bought for £1.2m

Anite Group PLC 6 December 1999 Anite Group buys Local authority application software provider for £1.2 million Anite Group plc (the 'Company'), the IT consultancy, software and services business, announces that its wholly owned subsidiary, Imasys Local Government Limited ('ILG') has acquired from Business Computer Technology Limited the business known as 'ORBIS' and certain of the assets relating to such business for an aggregate purchase price of up to £1.24 million (the 'Acquisition'). Orbis develops application software which is marketed to Local authorities' revenues departments. These products will be marketed by ILG to its Local authority customer base. ILG is the market leader in the supply of workflow systems to Local authorities. The initial consideration payable for the Acquisition amounts to £1.09 million of which £640,000 is to be satisfied in cash and £450,000 is to be satisfied within 14 days by the issue of 506,757 new ordinary shares of 10p each in the Company subject to the production of a satisfactory report under section 103 Companies Act 1985 and, if such report cannot be produced, in cash. Additional deferred consideration of up to £150,000 is payable dependent upon future sales of ORBIS's products. Such additional consideration would be satisfied by the issue of further new ordinary shares in the Company, subject to the production of a satisfactory report under section 103 Companies Act 1985 and, if such report cannot be produced, in cash. Accordingly, an application has been made to the London Stock Exchange for 506,757 ordinary shares in the Company to be admitted to the Official List. Conditional permission to admit the new shares was granted on 3 December 1999 and dealings are expected to commence by 20 December 1999. These shares would rank pari passu with the existing issued ordinary shares in the Company. John Hawkins, Chief Executive of Anite Group, commenting on the acquisition said: 'The inclusion of Orbis within our portfolio adds revenue applications to our existing workflow offer to our Local authority clients.' For further information please contact: Anite Group plc John Hawkins, Chief Executive 0118 963 7708 Simon Hunt, Finance Director Ludgate Communications 0171 253 2252 Edward Macquisten/Reg Hoare
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