Earthport Regulatory News (EPO)

26 Mar 2008 10:25

Earthport PLC26 March 2008 26 March 2008 Earthport plc ("Earthport" or the "Company") Adobe and Earthport collaboration to provide Trade Financing Solution Earthport, (EPO.L) the global payments utility company, is pleased to announcethat it is collaborating with Adobe Systems, (ADBE.US) to develop and market asecure trade financing solution as a product for the Financial ServicesCommunity. Adobe and Earthport will work together to develop a portal for the initialclient, a major UK financial institution which has already committed to theservice. The two companies are already working on a number of other strategicopportunities for this project with other major global financial institutions. It is estimated that the size of the market opportunity which will be availableto this product is colossal, "Cross-border trade is growing rapidly as morecompanies source goods and services globally. International trade doubled overthe past decade to $10.5 trillion in 2005" - Source Visa's cross border paymentsreport. James Bergman, Executive Director, Earthport, said: "This is an excellentopportunity for Earthport and Adobe to gain significant revenue and market sharewhilst facilitating trade. The collaboration with Adobe will ensureproliferation of this new and exciting product across the global FinancialServices Community which in turn will enable Corporates to trade securely witheach other through Adobe's escrow portal and Earthport's network of segregatedaccounts and unique technology platform." Adobe Systems commented: "This is a joint initiative, which both companiesbelieve will capitalise on Earthport's unique business model for bank-to-banktransfer and Adobe's long established and market leading capabilities for richcustomer engagement." -Ends- Earthport plc Mike Harrison, Executive Chairman +44 (0)20 7220 9700James Bergman, Executive Director +44 (0)20 7220 9700 Dawnay, Day Corporate FinanceNick Lovering +44 (0)20 7509 4570 Dawnay, Day Corporate BrokingAdam Pollock +44 (0)20 7630 4100 Financial DynamicsJonathon Brill / Annie Evangeli +44 (0)20 7831 3113 Any product enquiries should be addressed to:Matt O'Donnell, Earthport Plc Business Development: matt.odonnell@earthport.com This information is provided by RNS The company news service from the London Stock Exchange