@UK Update on @Australia

Nov 23, 2012

@UK PLC, is pleased to announce that following the launch of @Australia in September this year, the @UK sales team conducted a two month campaign to select prospects which culminated in a successful three week sales visit in October and November by @UK senior management.

The visit saw meetings with four of the Australian Regional Governments, covering areas as diverse as health, education, research, local government and economic development.

The visit confirmed that there is a real appetite for the Company's solutions, ranging from spend analytics through to the ecommerce marketplace with secure embedded payment.

To support and accelerate the roll out of this innovative solution the Company has engaged with a number of Australia's major banks, demonstrating the solution to their sales and product teams.

As a consequence of this activity, the Company has run a number of spend analytics test files and is actively engaged in providing proposals to prospects.

It is the Company's intention to establish a small team in Australia during 2013 and the Board believes revenues from Australia have the potential to be greater than UK revenues.

Lyn Duncan, co-founder of @UK commented,

"The visit to Australia was worthwhile, building upon all of the pre-sales work undertaken by the team. The Australian market is technically literate and understands the differentiated nature of our offering. The fusion of buyer driven eprocurement and genuine supplier ecommerce, underpinned by an active and engaged banking sector has the potential to become pervasive. Importantly, there is also a lack of legacy systems in place which traditionally slow down change and the uptake of new technology. We are therefore confident that these activities will deliver significant opportunities."