RS2 Software plc - Interim Directors’ Statement

On 14 May RS2 Software published its Interim Directors’ Statement explaining that the Company recorded slightly lower results during the first quarter of 2009 compared to those registered in the same quarter last year. Moreover the Directors’ stated that it revised its projections for 2009 as banks curtail budgets in response to the financial crisis.

Despite the slowdown, RS2 has maintained its client base and does not expect any major repercussions. Furthermore the Company continues to receive requests for proposals and is currently in negotiations with prospective clients.

In their statement, the Directors reiterated the two significant objectives achieved this year as part of its expansion strategy. RS2 set-up its office in Jordan which is now serving as a regional office for the Company’s Middle Eastern clients. In addition the Company officially launched its new Philippines office which will serve as a cost-effective support centre while establishing a foothold in the Asian Market.

The Directors concluded by stating that operations continue at a steady pace and the Company is actively engaged in new marketing and networking efforts although with a more cautious approach.

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