Absa Investment Management Services signs major licensing deal for Bravura's TalisTrust and Sonata Business Services

31 December 2007 Absa Investment Management Services signs major licensing deal for Bravura's TalisTrust and Sonata Business Services

SYDNEY, Australia; 31 December 2007 - Bravura Solutions (Bravura, ASX: BVA) has signed a major new licensing agreement with AIMS, a subsidiary of the leading South African banking and financial services institution, Absa, for a major upgrade to its registry systems.

Under the deal, Bravura's unit registry offering, TalisTrust will replace AIMS' existing administrative systems and consolidate multiple applications on a single platform. The new system will enable AIMS to administer a more diverse range of financial products, automate transactional processes and better manage its growing customer base.

Mark Kitching, Chief Operating Officer of AIMS said: "Our decision to purchase TalisTrust follows an intensive evaluation of competitive offerings, prompted by strong growth of AIMS' business.

"TalisTrust will simplify our existing administrative environment, delivering significant time and cost savings. This will enable us to better focus on our growing client base and service delivery."

"Bravura is delighted to extend its relationship with AIMS, which has contributed significantly to our strengthening presence in the South African market," said Iain Dunstan, Group CEO and Managing Director, Bravura Solutions.

"Bravura's success in South Africa is largely due to the ease with which our products comply with South African requirements and enable companies, like AIMS, to seamlessly integrate their businesses across geographic destinations and legal jurisdictions."

"The deal with AIMS reflects our growing global footprint and commitment to the expanded EMEA region's financial services sector and it will generate over $3 million in new licence and services revenue during calendar year 2008."

As a result of the TalisTrust deal with AIMS, Bravura will recruit additional staff to provide local support and expand Bravura's range of offerings to the South African market.