Landmark Software Agreement

RNS Number:2392S
Formjet PLC
14 April 2008

                                                                   14 April 2008



                                    FORMJET PLC
                          ("Formjet" or "the Company")

                            LANDMARK SOFTWARE AGREEMENT

           Three-year contract guarantees minimum revenues of $1.18m


Formjet Plc, the AIM listed alternative software vendor, is pleased to announce
that it has signed an agreement with a major North American software vendor 
("Agreement").


HIGHLIGHTS


*        Three year white labelling contract

*        Worldwide software distribution

*        Minimum guaranteed revenue of $1.18m - irrespective of sales



The vendor, which cannot be named for trade confidentiality reasons under the
Agreement, has committed to a three year contract that will see certain titles
of Formjet's software range being white labelled and marketed as part of the
vendor's new software range due for worldwide distribution through its
established channels



The Agreement currently provides a minimum guaranteed revenue of $1.18m to
Formjet over a three year period irrespective of sales. The Board believes that
the Agreement will deliver revenues to the Company in excess of this amount. The
agreement will positively impact on this year's performance and is one of a
number of pipeline deals referred to in the Annual Report.



Commenting on the transaction Lyndon Chapman, Executive Chairman of Formjet,
said: "This is an important landmark for Formjet. Not only have our products
been identified as a credible alternative to market leading brands, but our
reputation has travelled to the heart of the software industry in North America.



"Our partner in this venture will be using its long established international
distribution structure to sell our software, which will be marketed under the
vendor's brand name."



                                      END





ENQUIRIES



Formjet Plc                                      Tel: 01293 848 860
Lyndon Chapman, Executive Chairman
Tony Lee, Chief Executive



Bishopsgate Communications Ltd                   Tel: 0207 562 3350
Maxine Barnes
Nick Rome
www.bishopsgatecommunications.com



Blue Oar Securities Plc                          Tel: 0207 448 4400
Romil Patel/Rhod Cruwys
www.blueoar.co.uk


Notes to Editors:



Formjet Plc



Formjet Plc is a UK-based company with a highly distinctive business model. It
acquires territorial rights to 'alternative' software products, and markets,
sells, distributes and supports these products in place of the vendor in
worldwide markets. The strategy has at its heart the proposition that the
Company can acquire product lines in territories of at least one country without
the expense of either product development or the creation of IPR. The Formjet
Group currently has three focussed strategies:





Alternative Products

*     Panda Software (UK) distributes Panda Software antivirus and security
products in the UK. With its high margins and recurring annual renewal revenues,
Panda is a major contributor to the Group's sales and profitability.

*     Ability Software International distributes a powerful suite of office
products. The Ability products form an integral part of the white label
opportunities that Formjet is creating. The Tesco Complete Office and Photo
Restyle products are amongst the best selling of their range

*     Diamond Discovery Software is a new accountancy range designed to grow
with its end user. The range complements Formjet's Panda and Ability software
offerings and will be sold under the Diamond Discovery Prelude and Formjet
Accounts brands.

*     EdAlive edutainment software will open up a new and growing market for
Formjet and will cover a range of subjects including maths, word skills and
spelling



Alternative Routes to Market

*     Formjet Innovations is the specialist distribution arm of the Formjet
Group focusing on its alternative product range and associated alternative
routes to market.  The focus here is on creating "white label" software,
targeting retail and brand leaders.


*     Research & Expansion - the focus here is on targeting new product ranges
and potential acquisitions as Formjet builds on recent business wins with Tesco,
Dell, Woolworths and Jungle247. With the ongoing opportunities of launching new
alternative products, and the need to expand/refresh the current products,
research and expansion will play an important role in developing the business.





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

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