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Custima International
www.custima.com

FALLS CHURCH, VA., February 17, 1998 - Custima International has announced the acquisition of Dynamic Business Systems (DBS) in a cash deal. DBS supplies a full range of accounting, human resource management and payroll software. The deal will enable Custima to strengthen its position as a supplier to the utility and municipal market as well as allowing Custima to develop and service the market for commercial accounting applications. Following the acquisition, DBS will trade under the name Custima International Corporation.

DBS is based in Falls Church, Virginia (metropolitan Washington, D.C.) and boasts many commercial, municipal and utility clients, including:

• The City of Madison, with a population of 200,000, annual operating budget of $300 million and 2,600 employees.

• Chester Water Authority, which serves about 35,000 accounts in and around the city of Chester near Philadelphia.

• The Rogers Group, a regional manufacturer and distributor of road construction materials and quarry products with a turnover of approximately $370 million.

• Harmon Glass, a $650 million automotive and glass distributor with over 300 glass repair shops nationwide.

• WorldCorp, Inc., a $300 million air transportation company with over 1,500 employees in all the USA and around the world.

With the Custima International acquisition, DBS's software product portfolio has been re-branded under the name CUSTIMA Financials. The fully integrated system includes General Ledger, Accounts Payable, Purchasing, Payroll, Human Resources, Accounts Receivable, Inter-agency or Grant Billing, Inventory Control and Asset Management modules. In addition to meeting the needs of their commercial clients, this portfolio can cope with the special needs of municipal financial management. The system provides complete accounting and financial reporting in a multi-fund environment. Budget and encumbrance control are supported and detailed audit trails of all accounting activity are maintained.

Custima International has traditionally supported clients in the utility market where it supplies a leading customer information and billing system. DBS and Custima International already have a mutual client with Chester Water Authority. The take-over will enable Custima International to provide a fully integrated solution to the utility market while developing capabilities to target and service the commercial marketplace. 

Custima International's Chief Executive Officer, Barry Capal said: "We have always supplied the CUSTIMA Customer Information System to clients searching for a 'best of breed' solution and we will continue to do so. We recognize that some clients prefer to buy software suites rather than individual products, particularly when this means dealing with one vendor. The DBS acquisition means that Custima International can now offer accounting, customer information system, human resource management or payroll products for those clients who want the best in the industry - or a whole suite of software."

David Matthews, Vice President, responsible for Custima Financials commented "We look forward to being part of the Custima International Group as it will allow us to take a superb product and sell it to a wider market. Bringing a complete suite of accounting, payroll/human resources, and customer billing systems under one roof will enable us to provide our customers with a single vendor solution, should this be required."

Mr Capal added: "I am looking forward to working with the highly competent and professional workforce that DBS will bring to this deal."

DBS and Custima have developed their software using the same fourth generation language: PROGRESS. All Custima International's software packages can run with either PROGRESS or ORACLE databases.

Custima International plc is an international software applications provider for commercial and Electricity, Gas, Municipal and Water market places. It has major implementations in Europe, Africa. the Americas and Australia.

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