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Vebnet (Hldgs) PLC (VBT)

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Wednesday 12 May, 2004

Vebnet (Hldgs) PLC


Vebnet Holdings PLC
12 May 2004

                              VEBNET (HOLDINGS) PLC
              Acquisition of the rights to Spektra Group Limited's
                   open transaction server ('OTS') technology

Vebnet, the leading provider of flexible benefits technology in the UK, is
pleased to announce that on 7 May 2004 it acquired the rights to Spektra's OTS

OTS was developed by Spektra as an innovative B2B integration platform,
primarily for the financial services industry. OTS has been developed using J2EE
technology and has been designed specifically to manage industry standard
message formats. OTS is the first and only software product certified by the UK
financial services industry body Origo, as supporting Origo's own messaging

Under the terms of the agreement, Spektra retains the right to license the
technology overseas and in UK markets outside Vebnet's core market. Vebnet has
paid Spektra a modest consideration for the acquisition of these intellectual
property rights. In addition, Spektra will earn royalties on Vebnet sales which
utilise OTS.

Gerry O'Neill, Vebnet's Chief Executive Officer, stated: 'The acquisition of the
rights to OTS gives us the capability rapidly to develop and deploy interfaces
to product providers conforming with industry standards. The demand for closer
back-end integration is something that we are hearing from more and more of our
clients. The inclusion of the OTS into our technology significantly enhances our
offering in the employee benefit market and the transaction gives Vebnet
exclusivity in the application of the OTS technology in our core market.'

Gordon Stuart, Spektra's Managing Director, said, 'The deal with Vebnet is an
excellent one for both companies. It marks the successful transition of Spektra
from a service company to a seller of intellectual property and opens up
significant new opportunities for both Spektra and Vebnet.'


Vebnet (Holdings) plc
Gerry O'Neill (Chief Executive Officer) 0131-270 5502

Spektra Group Limited
Gordon Stuart (Managing Director) 0131-718 6004 or 07785-330883

Bankside Consultants Limited (PR to Vebnet)
Charles Ponsonby 020-7444 4166

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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