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7 December 2000


Plexus International Limited (“Plexus”) has returned a group record level of sales for the month of November. The consolidated total value of all direct sales for November 2000 was approximately A$4,000,000. Indirect sales, that is, electronically and call centre facilitated transactions achieved through the Plexus supplier network, amounted to a further A$1,100,000. The total of all transactions for the month can be contrasted with the reported total revenue for the 1999/2000 year of A$2,858,111.

The gross profit margin for direct sales has been steadily improving since the beginning of the financial year. The average margin for direct sales during November exceeded 18%.

Plexus Executive Chairman, Ray Hammond, said, “Plexus is an innovative company in the fields of insurance services and e-procurement. November’s achievement confirms that we have a business model that produces strong revenue growth at a margin that would be the envy of most retailers. It has taken some time and a great deal of effort; but we now have a business that is producing results”.

The improvement in trading results follows a major restructure of the business earlier this year. The renewed focus on developing insurance, audit and claims management systems appears to be entirely vindicated. The new Claims Information Network (CIN) continues to exceed client procurement expectations in both Australia and the UK, and is now underpinned by “best-of-breed” computing technology.

In addition, the continuing development of “Fraud Assist” (provisional patent applied) interactive insurance fraud detection software has generated wide international interest from the insurance community. The Directors believe this service will be a major source of revenue in the latter part of 2001.

At a retail level, Plexus and its UK based operating subsidiary, U-plex plc (“U-plex”), are focussing operations almost entirely around the provision of shopping services through long-term agreements with affinity groups. This strategy eliminates marketing and customer acquisition costs, and delivers rapid growth in turnover.

The early success of U-plex underpins the planned completion of a second round capital raising from key European investors in the first half of 2001; leading to a listing on the main board of the London Stock Exchange (under Chapter 25) later in that year.

For further information, please contact Peter Bartleet on 08 9226 3033 or via email at peterb@plx.com.au.

5 December 2000

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