Softline Announces New Head of North American Operations - (5/1/2002)

Softline Announces New Head of North American Operations

Murray Aston to lead both BusinessVision and AccountMate

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San Francisco, Calif. (May 1, 2002) With the successful completion of its planned first phase of North American market penetration, marked by strong sales for both AccountMate and BusinessVision, Softline Software, the North American division of Softline Ltd. South Africa, today announced the appointment of Murray Aston as president of Softline Software North America. Aston is the founder of, and has served as president of, BusinessVision, which was acquired by Softline in 2000.

The announcement signals the planned streamlining of Softline Software, with Aston's charter including leadership at both AccountMate Software and BusinessVision, and heralds the start of Softline's phase two plans for continued growth in North America.

In addition to operations in South Africa and Australia, Softline has three subsidiaries in North America. BusinessVision and AccountMate provide Softline with the ability to offer products that address the entire spectrum of business sizes, from small and medium up to the mid-market. Softline's third subsidiary Datafaction, is a focused provider of accounting software solutions to the entertainment and related industries.

Aston has been selected to lead Softline's next phase of growth in North America, a phase that targets solid, profitable growth by enhancing and enlarging partnerships with channel members, as well as ongoing development of the subsidiaries' product lines.

"Murray Aston will lead Softline's North American operations during this exciting growth phase," said Ivan Epstein, chief executive officer of the Softline group. "Murray's cumulative knowledge of the accounting software market, together with his experience in growing and maintaining a loyal, profit-generating partner channel, will be key in guiding Softline's North American subsidiaries."

According to Epstein, Aston's proven track record in successfully building a profitable, reseller-based accounting software company will further enhance and add to the growth of Softline Software moving forward. With the addition of Aston, the combined experience of the enhanced team based at AccountMate will be important for Softline Software's continued growth and expansion in the U.S.

"I welcome this opportunity to lead two successful yet distinct companies," said Aston. "Moving forward, the two companies will share critical-path resources, where tactically appropriate, ensuring that we will both continue to lead the market with a full range of accounting and related business software, and meet the needs of our current and future clients. AccountMate is well established in the mid-market providing the best source code modifiable product in our industry. BusinessVision, with its many accolades, will enjoy ongoing success as it focuses on targeting the gap that exists in the small to medium accounting market. In line with this strategy, we will continue to place a strong focus on assisting Business Partners to grow and thrive alongside both businesses."

Softline will make several important product and corporate vision announcements during the AICPA Tech 2002 conference, to be held May 5-8, 2002 in Washington, D.C.

"Upcoming announcements will underscore Softline's strong resolve to build on recent successes and demonstrate how we plan to move confidently toward a future where Softline's North American subsidiaries will compete even more effectively in the accounting and e-business markets," Aston added.

Steven Rostovsky, who previously served as president of Softline Software, and Ben Tse, who for 18 years led AccountMate Software, have both stepped down from their roles after successfully completing charters undertaken with the acquisition of their businesses by Softline Ltd.

"I'm particularly pleased and excited to see Murray Aston taking on this larger role in North America, guiding not only his original BusinessVision product, but also the AccountMate product," said Randy Johnston, executive vice president of K2 Enterprises. "His vision and leadership should help take the AccountMate product, under Softline Software's guidance, to previously unattainable levels."

"The continuing success of Prism Visual Software and other AccountMate Business Partners is significantly tied to the ongoing growth and vision of AccountMate/Softline," said Lorraine Keating, president of Prism Visual Software, an AccountMate Business Partner, third-party product developer, and one of ComputerWorld's Top 100 Emerging Companies for 2002. "The appointment of Murray Aston offers the promise of improved communication and responsiveness. Murray's success in growing a VAR channel business is proven and I find this very encouraging for all AccountMate Business Partners."

Brian Kleinman, president of Datafaction, will continue to lead Datafaction going forward.

About Softline

Softline (JSE: SFT) is a developer of accounting and payroll software applications. Operations provide accounting, payroll and e-commerce software and related services to small and mid-size businesses. Softline has a well-established market position in South Africa, Australia, the USA and Canada. More than 335,000 businesses, encompassing approximately 5.2 million individual users, utilize its applications. Research and development is core to Softline's business ensuring that Softline is able to further its position in an increasingly competitive global software environment. For more information about Softline and its operations visit http://www.softline.co.za.

Copyright © 2002 All Rights Reserved.
AccountMate Software, A Softline Company

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