ADMEREX Announces Acquisition of Collections Software Provider CollectionWorks International

Sydney, Australia – As part of the company?s strategy to expand its software products and services in the international credit management industry, ADMEREX Limited has acquired the business, including customer contracts, accounts receivables, software products and all intellectual property, of Atlanta-based CollectionWorks International Inc [CWI].

The acquisition is subject to shareholder approval at ADMEREX?s Annual General Meeting.

CWI is a global provider of software and consulting services to the receivables management industry. Clients of CWI and its CW eXchequer™ receivables management software include:

• Standard Chartered Bank?s Middle East – South Asia Group,
• ABN AMRO,
• EnTie Bank,
• Diners Club,
• Union Bank-Pakistan,
• Hutchison Telecoms and
• KG Telecom.

The CW eXchequer™ software manages the primary aspects of the collections and receivables management process.

Chairman of ADMEREX, Mr. Ron Cotton, said the acquisition of CWI?s business strengthens the company?s growing product line of retail banking, clearing, e-commerce and payment solutions and gives ADMEREX an immediate presence in some rapidly growing geographical and vertical markets.

CWI?s business will be marketed under the MENCIUS™ brand. MENCIUS™ is the newly created financial services brand of ADMEREX.

About ADMEREX
ADMEREX (ASX:ADL) provides specialist consulting services and software systems that manage complex operations for retail banking including core banking systems, interfacing, clearing, cash management, application outsourcing (ASP), credit, receivables, e-commerce and payment.