Subsidiary's Acquisition of Sheridan Systems Ltd

Anite Group PLC 9 March 2000 ANITE GROUP PLC ACQUISITION OF SHERIDAN SYSTEMS LIMITED Anite Group plc ('Anite'), the I.T. Systems consultancy, today announces that it has agreed, through its newly- formed subsidiary, Anite Public Sector Limited, to acquire the entire issued share capital of Sheridan Systems Limited ('Sheridan'). The consideration is £1.5m payable on completion, together with an earn-out not exceeding £4.1m based on profit and cash targets up to April 2002. £1.3m of the initial purchase consideration is payable in cash, the balance being met by the issue of Anite ordinary shares. Anite Public Sector Limited is the Group's fast-growing consultancy and solutions business within the public sector. Sheridan is the market leader in providing software-based solutions supporting key business functions within a local authority's Social Services department. Its SWIFT solution, released in March 1999, has won nine out of eleven Social Services tenders issued since the launch. Sheridan's solutions include the provision of software within the functions of Case Management, Resource Management, Finance and Personnel to Local Authorities throughout the United Kingdom. John Hawkins, Chief Executive Officer of Anite said 'The Group has taken another important step in building its Public Sector portfolio with this acquisition. It builds on recent acquisitions in a number of vertical markets and strengthens Anite Public Sector Limited's capabilities as a supplier of joined-up software and services in Local Government. By combining our e-commerce enabled workflow products with the core Sheridan application software, Anite will be able to create additional web enabled solutions for the Public Sector'. For further information, please contact: Anite Group plc www.anite.com/profiles/imasys.htm John Hawkins, Chief Executive Officer 0118 945 0129 Simon Hunt, Group Finance Director Ludgate Communications Edward Macquisten 0207 253 2252
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