Readsoft AB

Readsoft AB (STO:RSOFB) ReadSoft and Ultimus have signed a global partner agreement to start promoting each other's solutions. Together, the two companies will be able to offer customers unique solutions for improving document related business processes.

Readsoft AB (STO:RSOFB) ReadSoft has signed a global partner agreement with HP. The cooperation will initially target SAP markets in the US, UK, France, Benelux, Germany and Spain. The software will be sold by HP and offered as part of its multifunction printer (MFP) business solutions for Accounts Payable Automation.

Readsoft AB (STO:RSOFB) ReadSoft has received an order from a large pharmaceutical company in the U.S. The solution from ReadSoft, which is integrated with the company's SAP system, will automate and optimize the handling of tens of thousands invoices annually. The order is worth approximately USD 265,000.

Readsoft AB (STO:RSOFB) ReadSoft has received an order worth approximately USD 550,000 from one of the world's largest manufacturers of equipment for electrical power distribution, industrial control and automation. The solution from ReadSoft will automate and optimize supplier invoice processing and will also integrate with the SAP® system that is presently being deployed at the customer. The agreement covers the processing of hundreds of thousands invoices annually throughout the company's U.S. operations.

Readsoft AB (STO:RSOFB) Rémy Cointreau Group has decided to invest in ReadSoft's invoice processing solutions for SAP® to make their invoice processing more efficient. The agreement covers the processing of approximately 70,000 invoices annually at the group's French offices. The new, automated work process will be put into production during April 2009.

Readsoft AB (STO:RSOFB) A world leading chemical company in Germany has decided to invest EUR 325,000 in ReadSoft's invoice processing solutions for SAP®. The solution from ReadSoft will automate and optimize supplier invoice processing at one of the company's European Shared Service Centers and will also integrate with the customer's SAP system. The roll-out of the solution is expected to start before the end of this year and covers the processing of almost one million invoices annually.

Readsoft AB (STO:RSOFB) Total E&P Indonesie, a subsidiary of the multinational oil and gas company Total, is investing in electronic invoice processing from ReadSoft. The agreement covers the processing of approximately 72,000 invoices annually and is the first deal that ReadSoft closes on the Indonesian market. The new, entirely automated, work process will be put into production during the fourth quarter of 2008.

Readsoft AB (STO:RSOFB) One of Sweden's and Europe's largest energy companies has chosen to invest more than EUR 220,000 in ReadSoft's CLASSIFY and INDEX solutions. Together the solutions will be used to automate the handling of over half a million documents annually. In addition to its cost-saving benefits, the investment provides the company with the ability to more effectively serve its customers.

Readsoft AB (STO:RSOFB) Focuses operations in response to weakend market * The turnover for the first nine months increased by 11% to SEK 401.8 (362.7) million * Results EBITDA for the first nine months was SEK 7.6 (4.7) million * Results per share for the first nine months were SEK -0.64 (-0.12) * The turnover for the third quarter increased by 2% to SEK 127.9 (125.9) million * Results EBITDA for the third quarter was SEK 3.8 (3.0) million * Results per share for the third quarter was SEK -0.36 (-0.14) * Cash-flow from the current business for the first nine months was SEK 52.0 (19.6) million * ReadSoft has decided to focus its development resources on three product areas and to implement a savings program to cut down costs by SEK 40-45 million. The total non-recurring costs for these actions are estimated at SEK 20 million. SEK 10.8 million will be charged to the third quarter earnings and is write-downs for activated software development costs.

Readsoft AB (STO:RSOFB) The ongoing global financial crisis makes future market predictions very difficult. Therefore ReadSoft has decided to take action and focus its development resources on three product areas; SAP, Oracle and Capture. At the same time, a savings program in order to cut down costs by SEK 40-45 million is put into action. These measures include a staff reduction of 50-60 employees. The total non-recurring costs for these actions are estimated at SEK 20 million. Approximately half will be charged to the third quarter earnings, and the rest to the fourth quarter earnings 2008.