Press Release

31_07_2008   TOREX REPORTS YEAR END FISCAL YEAR 2008 RESULTS

Q4 Figure Cements Torex First year of Success

DUNSTABLE, UK – 31st August, 2008 – Torex Retail Holdings Limited (Torex™), the leading European-based global provider of software and solutions to the extended retail marketplace, today announced financial results for the fourth quarter and full year ended June 30, 2008.

Revenue for the fourth quarter was £56.4 million. Product sales for the quarter were £21.3 million compared to £19.4 million in Q3, an increase of 10%. Maintenance revenues were up 2% to £19.6 million, and Services was £15.4 million.  Pro-forma EBITDA, excluding certain non-recurring transformation costs, was £ 4.2 million, up 75% from the prior quarter.

Revenue for the first full fiscal year was £217.7 million with product sales of £76.0 million.  Maintenance revenues were £74.9 million and Services revenues were £66.7 million. Cash and cash equivalents as of June 30, 2008 were £38 million.

“It is pleasing to see that our expansion strategy of acquiring market share and developing customer share continues to make progress. Not only are we winning new business we also completed our first acquisition with the purchase of Alphameric Hospitality on July 1st 2008. This purchase further strengthens our proposition to the hospitality market place and offers the opportunity to open up the product offering to the wider Torex customer base,” said Mike Greenough, Chairman and CEO of Torex.

The Torex customer community expanded in the fourth quarter with new and existing clients, including TJ Hughes, Ethel Austin, Furniture Brands International and Torfs committing to the Torex solutions portfolio.

“Many of the new deals completed within the final quarter were as a result of our strategy to cross sell and up-sell from products within our extended portfolio,” added Graeme Cooksley, President and COO of Torex.  “I feel confident that we are now well positioned for growth and look forward to building on our success in the next fiscal year.”