AGM Statement

Manpower Software PLC 8 October 2001 FOR IMMEDIATE RELEASE 8 October 2001 MANPOWER SOFTWARE PLC ('the Company') AGM STATEMENT Manpower Software puts more sales resources into military markets Manpower Software plc announces that it has reviewed its strategy in the light of the 11 September terrorist attacks and, in light of the current economic climate, has decided to increase its focus into military markets for its manpower scheduling software. At the Annual General Meeting of the Company held today, Robert Drummond, Managing Director, said 'We have thoroughly reviewed our cost base and have identified additional savings in areas other than sales and marketing, which remain of vital importance in order to ensure continued growth of the business. Some of these savings we are investing immediately in additional sales and marketing effort in the military markets which we know and where our prospects are good. The atrocities in the USA have had an effect on the cruise industry which currently is a major market for our software. So far, we have not lost any major prospective orders and we are proceeding cautiously with our plans to establish a modest operation in Miami to support our cruise clients. It is still too early to judge the longer term effect of 11 September on our overall profit prospects, but the timing of orders from the cruise industry may be affected and may have an impact on our first half results to 30 November 2001. The measures set out above are intended to minimize any such downturn.' The Company has seen a significant improvement in trading results in the year ended 31 May 2001, with revenues up 72% and losses cut from £2.8m to £0.7m. All the resolutions proposed at the Annual General Meeting were duly passed without amendment. END
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