NASA.L Regulatory News (NASA)

26 Sep 2006 07:04

Nasstar PLC26 September 2006 Nasstar plc wins outsourcing contract with Corvus Capital Inc Nasstar plc ("Nasstar" or "the Company"), which supplies business software overthe internet, today announces a new 2 year contract with AIM listed CorvusCapital Inc ("Corvus"), Andrew Regan's international investment company. Corvus,through its subsidiary CVS Management Limited, has agreed to extend itsoutsourcing arrangement with Nasstar by entering into a new two year contract,the terms of which provide that all of Corvus' IT requirements are beingoutsourced to Nasstar including email to Blackberry and mobile phones, internetconnectivity, networks at Corvus' offices, web hosting and hosted applicationsincluding Microsoft Exchange, Microsoft Office and accounting software. AsNasstar supplies software over the internet, access to Corvus's softwareapplications such as email and accounts will be over a secure internetconnection. Under the contract Corvus will pay a monthly rental based on usageof the software. Nasstar was admitted to AIM in December 2005. The Company is an ApplicationService Provider supplying software over the Internet. The service involveshosting applications such as email, Microsoft Office, accounts software and CRMsystems from a purpose-built data centre, providing a centralised supply ofsoftware applications accessible over the Internet. Customers pay for usage on amonthly basis, making delivery of core IT services a utility. As set out in theAIM Admission document, Nasstar proposes to grow its business both organicallyand through acquisition. Charles Black, Chief Executive of Nasstar said "We are delighted that Corvus have committed to a long term arrangement. Ourhosted applications, including Microsoft Office and Exchange, provide greatflexibility to Corvus. With our hosted model of service provision there is noneed for us to be set up servers on site or install Microsoft software. Ourservice is centrally controlled and supported which makes it easy to support andscale up quickly for new users." Sam Glover, Head of the Technology investment team at Corvus, said "Nasstar provides a completely scaleable outsourced ASP solution which allows usto focus on investment. Nasstar are also supplying a number of our investeecompanies with similar fully hosted ASP services which have helped reduce the IToverhead, streamlined operations and provide 24/7support at relatively low costwhich is visible on the bottom line. A number of our other investments arelikely to follow suit as the benefits are obvious and setup and transfer of datato the Nasstar service has proved to be painless. In some cases companies andtheir staff have been set up with dedicated server space, Microsoft Exchangebased email and Microsoft Office in a matter of minutes. We look forward toworking with the team at Nasstar who we are confident will support us throughour planned growth over the next two years. Further Information Nasstar plcNasstar is an Application Service Provider which supplies software over theInternet. For further information on Nasstar visit www.nasstar.com Corvus Capital Inc Corvus Capital Inc is listed on the London Stock Exchange AIM. For furtherinformation on Corvus visit www.corvus.com Contact information Nasstar plc Charles Black, Chief Executive cb@nasstar.com 0870 240 1634 - Telephone Corvus Capital Inc John Bick 0870 389 6999 - Telephone W.H. Ireland Limited Ruth Gifford or Tim Cofman 0121 616 2101 - Telephone The information contained herein is restricted and is not for release ordistribution in or into the United States of America, Canada, Australia, theRepublic of South Africa, the Republic of Ireland or Japan. This press release has been issued by Nasstar plc and is the sole responsibilityof Nasstar plc and has been approved for the purposes of Section 21 of theFinancial Services and Markets Act 2000 by W.H. Ireland Limited ('W.H. Ireland')of 11 St James's Square, Manchester, M2 6WH. W.H. Ireland, which is regulatedby the Financial Services Authority, is acting as the nominated adviser forNassar plc and will not be responsible to any other person for providing theprotections afforded to clients by W.H. Ireland or for providing adviceregarding the Placing. This information is provided by RNS, the company news service from the LondonStock Exchange. This information is provided by RNS The company news service from the London Stock Exchange