Neusoft, Mincom Partner to Boost EAM Market in China

Mincom-Neusoft Joint R&D Center Inaugurated in Nanjing

Nanjing, China-22 February 2006-Mincom and Neusoft inaugurates their first joint R&D Center in Nanjing today. As another successful partnership story between these two largest commercial software development companies in Australia and China, the launching of this R&D facility marks completion of localization of Mincom Ellipse, an enterprise asset management (EAM) solution purpose-built for asset-intensive companies. Both sides will jointly distribute localized Ellipse products into the Chinese market to provide asset-intensive enterprises in China with the world s leading asset management tool.

Neusoft and Mincom signed a cooperative business agreement In June 2005. The purpose of the agreement was to spearhead the introduction of Australian enterprise asset management (EAM) technology into Chinese marketplace by taking advantage of Neusoft s huge market share and industry experience as well as Mincom s leading management software for asset-intensive enterprises. Under the agreement, Neusoft and Mincom would build a joint development centre in Nanjing for long-term partnership. For the present, Neusoft has finished localization of Ellipse and is to offer it, together with support service, to the Chinese market via its nation-wide sales network. To help Neusoft with marketing and sales, Mincom will establish a sales office in Shanghai. It is learned that Mincom Ellipse will arm China s asset-intensive enterprises with the world s leading asset management tool.

Mincom Chief Executive Officer, Richard Mathews viewed the partnership with Neusoft as a very strong reflection of the potential demand in the Chinese market for most advanced technology around the world including Mincom products. As an important integral part of Mincom s strategic marketing plan for China, the establishment of the joint R&D Center, showing strong confidence of Mincom in the future growth of Chinese marketplace, helps to strengthen the strategic partnership between both sides and encourage more investment from Mincom. By forming this complementary partnership with Neusoft, the software giant with most industry knowledge in China, Mincom is expected to have its products localized and leveraged to satisfy the practical demands of asset-intensive enterprises in China in terms of application and performance with high quality service.

According to Senior Vice President of Neusoft Co., Ltd., Mr. Rong Xinjie, Neusoft is dedicated to providing total solutions to the Chinese government bodies and private enterprises. Currently, Neusoft, in addition to its national market presence and service support network serving more than 7,000 big customers inclusive of 3,000 large enterprises in China, has competitive advantages in co-operating with global IT enterprises with abundant experience in enterprise informatization relying on its most updated theories and success cases of management software implementation.

Neusoft has abundant experience in localization and we have successfully provided localization services (into Chinese, Korean and Japanese) for many international corporate partners. That is an important basis for our partnership with Mincom. Mr. Rong said.

Based upon a completed forward-looking plan for the development of EAM market in China, we chose Mincom as our global strategic partner for EAM solution operation. Our objective is to, by working together with Mincom that represents the best in the world and leveraging each other s strength, provide asset-intensive enterprises in China with better EAM solutions.

Background:

About Neusoft Co., Ltd.

Neusoft is a leading software and solution provider in China.

Founded in 1991, Neusoft Co., Ltd. was the first software company listed on Chinese stock market, and also the first Chinese software company to obtain CMM Level 5 and CMMI Level 5.

Neusoft possesses 20 holding subsidiaries, seven research and development (R&D) centers and has Virtual Headquarters in eight major regions. It also has offices and branches in more than 40 domestic cities, as well as in Hong Kong and Japan, forming the biggest marketing and service network and R&D and technical support system in the Chinese software industry.

Currently, Neusoft has maintained rather high market shares in telecom, social insurance, enterprise, electricity, and education. By establishing strategic partnerships with INTEL, IBM, Oracle, SUN, HP, EMC, NEC, BEA and many other prestigious companies, Neusoft has become one of the internationally competitive software companies.

About Mincom

Mincom Limited is an international company based in Brisbane, Australia with more than 25 years experience in providing business solutions to asset intensive industries such as mining, utilities, transport, defense and government in more than 40 countries.

It is the fourth oldest Enterprise Resource Planning (ERP) company in the world and has more than 1,000 staff in 20 offices across Australia, North America, South America, South East Asia, Africa, and Europe.