PROHA AND BASWARE AGREE ON CO-OPERATION

PROHA AND BASWARE AGREE ON CO-OPERATION Proha Plc and Basware Plc agreed on world wide co-operation. Proha will offer Basware e-Flow PIP purchase invoice processing software and Target products as ASP service in the Financial Management business area. In addition, both Proha's ASP service and electronic invoice handling service BREVe will be joined with Basware's myeflow.com electronic invoicing service. Proha also has a right to sell BasWare e-Flow PIP and Target products in countries, where they are offered as ASP service. "This agreement strengthens the services of Proha's Financial Management business area" commented Juha Tommila, a Director of Proha. "Especially, the combination of BREVe and e-Flow creates a complete service chain and brings added value to the customers. Instead of creating a service for invoice scanning the whole process can be outsourced". The agreement is a significant opening for Basware in the ASP markets. The international distribution of Basware products will extend and the company will get the possibility to offer its solutions to market segments where it has not operated on before. In addition, the co-operation will speed up the start of electronic invoicing service business and will give new potential to the use and development of Basware products. BasWare in a nutshell BasWare Corporation is a profitably growing international software vendor, which develops, markets, and sells software that supports e-Business and financial control. Of its products, BasWare e-Flow PIP is the market leader in the Nordic countries as is BasWare Target in Finland. The group has subsidiaries in Sweden, Germany, Great Britain, and the Netherlands. In 1999, BasWare's net sales were FIM 27 million and in January-September 2000 net sales grew 76%. The number of personnel is over 100. Proha in a nutshell Proha is a fast growing, profitable, internationally operating software and service company. Proha concentrates on management in the Internet age. The key business areas are Project Management, Financial Management, and Internet Technologies. The pro forma net turnover of the Proha Group is over FIM 500 million in 2000. Over 4/5 of the net turnover originates from outside Finland. The Group employs over 600 people over 400 of which work abroad. Proha Plc Pekka Pere President & CEO More information Proha Plc Pekka Pere President & CEO +358 (0)20 4362 000 pekka.pere@proha.fi www.proha.fi BasWare Corporation Hannu Vaajoensuu CEO +358 (0)9 8791 7250 hannu.vaajoensuu@basware.com www.basware.com DISTRIBUTION: Helsinki Stock Exchange Major Media ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/16/20010116BIT00760/bit0001.doc http://www.bit.se/bitonline/2001/01/16/20010116BIT00760/bit0002.pdf