Foresightgr Regulatory News (FSG)

14 Jun 2007 07:01

Focus Solutions Group PLC14 June 2007 Embargoed until 7am 14 June 2007 Focus Solutions Group plc ("Focus" or "the Group") Focus Solutions Group plc signs restructured licence agreement with Openwork Limited Focus Solutions Group plc (AIM:FSG), is pleased to announce it has signed arestructured enterprise licence agreement with existing client Openwork Limited,a financial services multi-tie distribution company. The enterprise licence agreement is for the Openwork Trading Platform (Openworkis the UK's largest stand-alone, exclusive multi-tied, directly authoriseddistribution network) and for multiple sales processes covering the MCOB(Mortgage Conduct of Business), ICOB (Insurance Conduct of Business) and COB(Conduct of Business) business streams. The contract is worth between £650,000 and £900,000 over five years and includeslicence, support and maintenance fees for several aspects of the Focustechnology product suite and a number of solutions. Neil Ratcliffe, IT and Business Change Director from Openwork said: "Focus werethe obvious choice for the new Openwork Trading Platform, as they have a proventrack record within the industry for supplying successful e-commerce solutions.We look forward to realising the same business benefits from this implementationas with previous sales solutions developed by Focus." Richard Stevenson, Chief Executive, Focus Solutions Group said: "Openwork ismaking real progress in the multi-tie market and we are very pleased to becontinuing our relationship with them. Keeping up to date with regulatoryrequirements is a big issue for organisations and Focus' technology providesthem with the flexibility to comply with the changing business requirements oftoday and the future. The contract restructuring underpins our confidence in ourexpectations for the Group." END Enquiries: Focus Solutions Group plc 01926 468300 Richard Stevenson - Chief ExecutiveMartin Clements - Finance Director Seymour Pierce LimitedMark Percy0207 107 8000 SmithfieldTania Wild/Reg Hoare0207 360 4900 Notes to editors: About Focus Solutions Group plc Focus is an established supplier of easily configured & re-usable componentbased software & business services, which enable faster, more effective & costefficient processing of complex customer transactions. Focus has helped some of the world's leading public & private sectororganisations to successfully automate their most demanding customer processes. For further information on Focus, please visit www.focus-solutions.co.uk. About Openwork Openwork is the UK's largest stand-alone, exclusive multi-tied, directlyauthorised distribution network. The concept was conceived in response to thechanges to the regulatory shape of the UK life industry. Openwork has over 2,500financial advisers' spread throughout the UK offering face to face advice toconsumers. For further information on Openwork, please visit www.openwork.uk.com This information is provided by RNS The company news service from the London Stock Exchange