AGM Statement

Focus Solutions Group PLC 27 June 2002 27 June 2002 Focus Solutions Group plc AGM Trading Statement Richard Jephcott, Chairman of Focus Solutions Group plc, will make the following statement today at the Company's Annual General Meeting: In the year to March 2002 we achieved significant revenue growth - an increase of 123% - expanding our customer base and broadening our solutions into new sectors of the financial services market. The acquisition of our partner in North America, MPO Group Inc, was a particularly significant step as it will enable us to exploit the growth opportunities of the North American and Pacific Rim markets. MPO has been renamed Focus Solutions Inc. The business is now fully integrated within the Group both commercially and technically, and a promising sales pipeline has been developed. It has launched its first solution as a result of its partnership with Milliman USA, a leading actuarial practice, offering life companies in North America and the Pacific Rim the ability to automate the new business sales process for insurance products from application through to administration, including electronic policy capture, underwriting, issue and fulfilment. Since the year end in March we have launched our new Multi Channel Advice (MCA) solution which will enable life and pensions companies in the UK to automate their complex sales processes across their distribution channels. This solution will be important in meeting the requirements of the new multi-tie groupings that will emerge in the market following the proposed changes to legislation due later this year. These changes would change the role of the IFA, with a new channel emerging where intermediaries will be able to represent a number of insurers. MCA is built using goal; technology, our XML toolkit. It will enable organisations to rapidly develop components that can be deployed in any distribution channel, (e.g. direct sales force, telemarketing centres, internet sites), and easily changed to support the branding requirements of partners, the introduction of new products or to respond to legislative changes. Good progress has been made in the first quarter ending June 2002 with revenues and costs in line with management expectations. The key challenge within the financial services market internationally continues to be the need to cut the costs of the complex sales process for life and pensions products against the backdrop of an increasingly demanding environment. Consequently the Board believes the Group is well placed to deliver its strategic objectives both in the UK and internationally, and remains confident about the outlook for the year. ends Enquiries Focus Solutions Group plc 01926 468 300 John Streets Claire Forrest Citigate Dewe Rogerson 020 7638 9571 Chris Barrie Sara Batchelor Notes to editors About Focus Solutions Group Focus Solutions Group is a specialist provider of sales automation solutions for the financial services industry. Through goal:technology, its XML based collaborative toolkit, Focus delivers straight through electronic processing to create a paperless sales process across multiple channels to market including IFA portals, websites, Extranets, direct sales and call centres. Focus has a portfolio of market facing propositions and services to help customers to implement and use technology effectively. Propositions are available for the Life and Pensions, Mortgage and General Insurance markets. Focus has specific expertise in Point of Sale systems, having developed RIO, Norwich Union's POS solution for their direct sales, tied agents and telemarketing channels. Focus customer base includes: Assureweb, Exchange FS, Friends Provident, IFAEngine, Legal & General, Norwich Union, Royal & Sun Alliance, Scottish Equitable, Scottish Provident, Scottish Widows, Skandia, Standard Life and Zifa. Focus recently expanded internationally by acquiring its US partner, MPO, to form Focus Solutions Inc. Focus Solutions announced its year-end results on 30.04.02, including revenues increased by 123% to £5.1m. For further information on Focus Solutions, please visit www.focus-solutions.co.uk. This information is provided by RNS The company news service from the London Stock Exchange
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