Portrait Software AGM statement

Source: Portrait Software

Portrait Software plc (London: PST), a leader in Customer Interaction Optimisation, will hold its Annual General Meeting at 11am today at which John O'Connell, Chairman of Portrait Software, will make the following statement:

"I am pleased to report that sales to date in the current financial year are
ahead of where they were last year and trading remains on track to achieve full
year expectations. Building on the progress made last year, we have continued to
extend our reach into our key vertical markets through the execution of our
stated strategy of forming relationships with specialised industry partners.
During the period we have made excellent progress with developing new
partnerships and will announce more specific news in this regard in the near

"We continue to gain traction in the Customer Interaction Optimisation market
with our set of innovative software products. These include our recently
acquired Quadstone analytics product set and our combined product offering,
Portrait Interaction Optimizer. Contract wins in this area since the start of
the year include Wells Fargo, an existing EDGE customer, and Bloomingdales. In
addition, Fiserv CBS Worldwide continues to grow its sales of Aperio (powered by
Portrait), with solid prospects for further sales growth.

"Generally, we continue to see the market moving in our direction. Optimising
customer service and increasing sales effectiveness through inbound customer
interactions are fast becoming focus areas for businesses of all types around
the globe. In the banking sector there is also a resurgence in interest in
customer channel renewal and multichannel collaboration. Our products are
ideally positioned and we believe we have the right product propositions at the
right time in a growing market. Crucially, we have fantastic endorsement from
our customers, partners and industry analysts to back this up.

"We are also announcing that Mr. Hugh McCartney, Non Executive Director will be
retiring by rotation today from the Board of Portrait. He has recently accepted
a CEO position based in California which will require his full time attention,
accordingly he is not standing for re-election. Hugh has been an immense help to
us since he joined the board in February 2003 and we would like to thank him for
his considerable contribution and wish him well in his future endeavours."

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