Contract to Build Web Portals for Tarsus Group

Parity Group PLC 16 March 2000 Parity to create e-commerce infrastructure for Tarsus Group Contract to build web portals for five business sectors Parity Group plc, the e-business and software services group, has been awarded a contract by Tarsus Group, the internet-led media group, to build an internet portal for each of its five key business sectors. The project, which will be carried out by Parity Solutions' web design team, is intended to enable Tarsus to reach new markets and transact business over the internet. In addition to receiving a contracted fee of £200,000 for developing the sites, Parity has entered into an agreement with Tarsus under which it will receive a share of the e-commerce revenues generated. Under this arrangement, Parity will receive a maximum total consideration of £850,000. Commenting on the contract, Keith Jennings, Managing Director of Parity Solutions, said, 'This is the first of a number of similar contracts we are developing, in which Parity will receive a fee to cover development work plus additional ongoing payments based on e-commerce revenues generated for our clients. It is another example of the initiatives we are taking to generate new revenue streams outside of our traditional time and materials business.' For further information: Parity Group plc 0207 776 0800 Michael Harrington Financial Dynamics 0207 831 3113 Giles Sanderson/Jon Earl Note to editors: Parity Group plc is an e-business and software services group with over 40 offices in the UK, mainland Europe and the USA. In the last year, Parity Solutions has become a leading supplier of e-business solutions, a position reinforced recently with the acquisition of Interactive Developments, TMS and Comtec. Within the last month, Parity has also announced new ASP partnerships with Infobank and edocs to develop on-line procurement and billing systems, targetted initially at the utilities sector. Tarsus provides business media including exhibitions, conferences and publishing for the printing, food, marketing, education & training and clothing sectors. The development of the new web infrastructure for these communities will enable Tarsus to offer its existing and new customers a range of business-to-business e-commerce services and content, enabling them to reach new markets and transact business over the internet.
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