TGR Tirupati Graphite Plc

RNS Number:0511M
10 Group PLC
12 June 2000

 
10 GROUP PLC 
INVESTMENT IN SOFTWARE COMPANY 
PLACING TO RAISE #0.5 MILLION 
 
10i, the new IT, Internet, media and telecommunications investment fund,
today acquired a 30 per cent stake for #100,000 cash in Aqua E-Commerce Ltd
(www. aquaecommerce.net). 10i was launched by 10 Group, the AIM-listed
e-commerce, media and publishing group, earlier this year.

10i is also contributing #70,000 towards the working capital of the company,
which has developed Internet software called Aqua. The product, which
integrates with Sageline 50, the UK's most popular accountancy software, is
aimed at small and medium sized businesses that wish to add full e-commerce
functionality to an existing or new web-site.
 
The Aqua sales order processing (SOP) system, which is totally integrated
with an e-commerce system, transcends anything that is currently available
from Sage. Unlike existing Sage systems, it can be managed offline and
produce a very sophisticated web site.
 
One of the key features of the new SOP system is that information is only
entered once - when a customer places an order on-line, the identical
information downloads to the appropriate sales modules in the Sage accounting
package. When orders are placed, the SOP system can be synchronised with the
web site either continuously if there is a permanent connection to the
Internet or periodically if not. Orders can be automatically posted to the
accounts system, thus providing a full integration.
 
Andy Moore, Chairman of 10 Group plc, commented: "We are delighted with our
latest investment, which we regard as a significant asset for the future.
Sageline 50 currently has approximately 250,000 users in the UK. Aqua also
integrates with Quick Books, another popular accounting program. Until the
announcement of Aqua, e-commerce systems of this sophistication, which
integrate with Sage accounting, were not available."
 
Mr Moore that said 10 Group planned to introduce its own ISP and portal,
www.10.co.uk, in the near future, which would also enable this product and
others to be sold on line.
 
10 Group Plc has also raised #500,000, before expenses via a placing of 20
million shares at 2.5p each with Ellis & Partners.


 
For further information please contact:
 
Andy Moore
Chairman
10 Group Plc
Tel: 0121 234 1310
Mobile: 07836 722840
 
 
Issued on behalf of 10 Group Plc by Fred Bromwich, Citigate Dewe Rogerson,
tel 0121 631 2299. Mobile: 07770 741500


END

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