AGM Trading Update

RNS Number : 3592V
SQS Software Quality Systems AG
28 May 2008

SQS Software Quality Systems AG
Annual General Meeting and update on trading
28 May 2008

AGM trading update

SQS Software Quality Systems AG (AIM: SQS.L) ("SQS" or the "Company"), the global leader in independent software testing and
quality-management services, will hold its Annual General Meeting at 10.00 (09.00 UK time) this morning in Cologne. At the AGM, the Company
will give shareholders the following update on trading:
SQS is pleased to announce continued strong trading in the year to 31 December 2008, comfortably in line with management expectations
and despite the adverse currency impact of the recent decline in the value of Sterling1. Demand for SQS services remains robust in all
vertical markets, including financial services, as evidenced by the recent signing of a long-term contract with Anglo Irish Bank (announced
27 May 2008). The Company has not seen a slowdown as a result of current economic conditions, perhaps reflecting the importance of
independent software testing.
In line with our strategic goal to diversify into new vertical markets, we are pleased to announce the win of clients in three new
vertical markets - chemicals, gaming and the food & beverage industry - in addition to the ten verticals already served by SQS.
The number of long-term contracts continues to increase, as exemplified by the 12-month contract with Anglo Irish Bank.
Investment in new consultants continues to support SQS's rapid rate of growth. From 809 consultants at the end of 2007, the Company
expects to have hired a further 115 consultants before the end of June. In addition to the off-shore test centre in South Africa, SQS has
increased its global delivery capabilities with a new German and French-speaking off-shore centre in Cairo, Egypt. In addition, the recently
established "home-shore" testing centre in Goerlitz, near the border with Poland, is progressing well. Language and culture are the most
critical factors in the success of off-shore services and SQS is committed to providing world-class testing facilities on a global basis.
SQS continues to build upon its position as the world's leading independent software testing and quality-management company. The focus
remains on organic and acquisitive growth, as well as opportunities to expand its services across Europe and into new regions such as Asia
and the Pacific.
In its Annual General Meeting today, as well as other ordinary resolutions, SQS is seeking the approval of shareholders to buy back up
to 10% of the current share capital of the Company. Should the Company choose to buy back shares, those shares can be held in treasury and
used as consideration for the acquisition of companies.
Finally, the company is pleased to report that the special "double dividend" of EUR0.20 will be paid to shareholders tomorrow, 29 May.
Note1. Approximately 40% of SQS's total group revenues come from the UK. In the year to date, Sterling has weakened by approximately 14%
against the euro.
For further information please contact:
SQS Software Quality Systems AG +49 (2203) 91 54 0
Rudolf van Megen, CEO www.sqs-group.com
Ren Gawron, CFO
Altium 020 7484 4040
Nick Tulloch
College Hill 020 7457 2020
Sara Musgrave / Carl Franklin
Print resolution images are available for the media to view and download from www.vismedia.co.uk
Notes to Editors

SQS is the global leader in independent software testing and quality-management services. SQS consultants design and oversee quality
management processes during software and IT systems development and test the resulting products for errors and omissions.

Headquartered in Cologne, Germany, SQS now has more than 1,000 employees across Europe and in South Africa. The Group has a strong presence
in Germany (Cologne, Munich, Frankfurt, Stuttgart, Goerlitz and Hamburg) and in the UK (London, Woking, Birmingham, Manchester, Belfast),
Ireland, Netherlands, Switzerland, Austria, Egypt and South Africa. SQS also has a minor stake in an operation in Portugal and a partnership
operation in Spain.

SQS has three components to its service offering:
* IT professional services: within its broad range of software testing and quality-management services, SQS has enhanced its
offerings in the fields of management consulting (e.g. project and risk management), application intelligence, and outsourcing/off-shoring.

* Tools, licences, and maintenance: SQS's specialist range of software testing tools which work independently from and as add-ons to
the tools available from competitors has been enhanced by successful market deployment of version 8.0 of our SQS-Test Professional product.

* IT training and IT events: the training business was extended. Two certification schemes were established (INTCCM for
Configuration Management and IREB for Requirements Management); this will continue to result in additional courses including certification.
ISTQB and ISEB courses were updated for the new versions of the syllabus.
With more than 4,000 completed projects under its belt, SQS has a strong customer base including 36 FTSE-100 companies, half of the DAX
30 and nearly a third of the STOXX-50. It supports clients in a wide range of industries, including major corporations such as Deutsche
Bank, Deutsche Telekom, Barclays, BP, Boots, Credit Suisse, Volkswagen, and Daimler
The successful SQC conferences (Software and Systems Quality Conferences), held in Germany, the UK, Switzerland and in Ireland, are the
largest quality management and software testing events in Europe. The total number of delegates having attended in 2007 increased to 1,550
(2006: 1,470); the number of exhibitors increased from 82 to 88 while the number of sponsors stayed the same at 26.
www.sqs-group.com

This information is provided by RNS
The company news service from the London Stock Exchange

END

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