Earthport Regulatory News (EPO)

28 Apr 2008 07:00

Earthport PLC28 April 2008 28 April 2008 Earthport plc ("Earthport" or the "Company") Strategy Update Earthport plc, (EPO.L), the global payments utility company, is pleased toannounce it will be establishing a number of regional sales offices. This is inaccordance with the Company's strategy to support increasing global demand forits technology. The Company today announced it has set up the first of these, asales office in the USA to handle the growing demand for the Company's services.The sales office will be run by experienced individuals from the MLM andFinance industries. The sales office will be structured as a joint venture called Earthport USALimited, a UK registered company, with the Company retaining majority ownership.Direct costs will be borne by the venture partners and all customers willcontract directly with Earthport plc. Early signs indicate that the first twelve months revenue from Earthport USALimited will exceed $2M. The Company has signed a contract with Xennsoft, one of the leading providers ofspecialised software for the MLM market, to include the Earthport UPN in theirproduct range, creating transactions for the Company with every client thatXennsoft signs up. In addition Nuskin, signed on 7 December 2006, has begun to increase itstransactions opening up new territories and increasing its numbers significantlyon a monthly basis. A number of other widely regarded and established clients in other parts of theworld who will deliver substantive revenue are in the later stages of commercialnegotiation with the Company. The Company will shortly be adopting a similar sales office model in Australasiaand the Pacific Rim as well as the Middle East. James Bergman, Executive Director, stated: "Setting up these sales officesdemonstrates that the momentum is building and the hard work over the last twoyears is beginning to bear substantial rewards. Having teams on the ground inthese regions will facilitate communication with existing and prospectiveclients which will enable additional revenue expansion." Mike Harrison, Executive Chairman, commented: "This is a cost effective way ofextending our reach to support our top tier customers and premier prospects inthese geographies." -Ends- Earthport plc +44 (0)20 7220 9700Mike Harrison, Executive ChairmanJames Bergman, Executive Director 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 This information is provided by RNS The company news service from the London Stock Exchange