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The change in the Board was prompted by breakthrough orders in the United States and the desire by the company to expand its business substantially in the coming year. The company is currently investigating options for the raising of development capital to finance international expansion of the business.

Concurrent with its international expansion, EPS is currently piloting the Application Service Provider (ASP) delivery of its property lease management software, EPS Professional. Full production launch is scheduled for April 2000. ASP delivery will substantially expand the company’s target market and provide it access to Internet based business economies and new business opportunities.

Commenting on his appointment as Chairman, Mr. Craig Welch noted that "EPS is an exciting company with an enormous potential. It understands its customers’ requirements as few others do. It has well tested software, with blue ribbon customers in Australia and the United States. The company is now using the Internet to deliver sales of a comprehensive software solution into ever larger market segments."

Brief profiles of the EPS board appear below:

Craig Welch (Chairman): Until recently Mr. Welch was Managing Director for leading software company, Sausage Software, where he continues as a non-executive Director. Sausage Software is a pioneer of web-authoring tools and the sale of software over the internet. Mr. Welch was part of the team that caused Sausage Software to expand successfully into e-commerce, multi-media / web development, professional services and ERP software. Mr. Welch also serves as a director of a number of other high-tech companies

Adam Ramshaw (Managing Director): Mr. Ramshaw has had more than ten years experience in advanced technology, holding a number of positions with Honeywell Limited in both Australia and the USA. More recently, he held senior positions in marketing and corporate finance for a leading publicly listed Australian company in the telecommunications industry.

Greg Macpherson (Founder and Executive Director): Mr Macpherson, the founder of EPS, has been actively working in the computer industry for the last 20 years in the areas of software development, sales and management. In July 1998 Mr Macpherson relocated to Sunnyvale California to commence sales of EPS software and services in the United States market. He was a co-founder of Solace, a provider of software solutions to the finance industry.

John Allen (Non-Executive Director): Mr Allen was a partner of a major Australian law firm for 16 years. He is currently an Executive Director of Technology Transactions Ltd, where he provides strategic corporate advice on business structuring, fundraising and complex commercial transactions. Mr. Allen is also a Senior Vice President of the Australia China Business Council, a member of the Australia China Council and a Director of CITIC Australia Pty Ltd.

Eastcoast Property Software Pty. Ltd. (EPS) is a global company, based in Australia, delivering excellence in store asset development and ongoing performance management. EPS assists its customers to maximize the return from their property assets. With sales in the United States and Australia, EPS has been successful in securing high profile companies such as Coles-Myer, David Jones, Dick Smith, Jamba Juice and Charlotte Russe as customers. The company has offices in Sydney, Chicago, London and Silicon Valley.

For further information, please contact:

Adam Ramshaw Managing Director Tel: (61 2) 9419 8356 Mob: 0416 040 566 aramshaw@eps.net.au

Ben Jarvis Financial & Corporate Relations Pty Ltd Tel: (61 2) 9235 1666 b.jarvis@fcr.com.au