FMJ Formjet (See LSE:TQC)

RNS Number:7097S
Formjet PLC
21 April 2008



                                                                   21 APRIL 2008

                                  FORMJET PLC

                  ("Formjet" or "the Company" or "the Group")

                                   (AIM: FMJ)

                           PANDA SOFTWARE (UK) UPDATE



                 Contract Extension and New Distribution Rights

The Board of Formjet, the AIM listed alternative software vendor, is pleased to
update the market with developments at Panda Software (UK).

Contract Extension

The Company's 100% owned subsidiary Panda Software (UK) has extended its
exclusive representation agreement with Panda Software for a further year, and
is now contracted until 2011. This agreement originally commenced in 2001.



The focus at Panda Software (UK) remains on strengthening its brand, profile and
competitiveness, with the aim of building on relationships with software
distributors and resellers. Panda Software (UK)'s customer base includes Dixons
Stores Group International, Tesco and Marks & Spencer.



New Distribution Rights

Additionally the Company has been awarded the rights to distribute Panda
Software in the Republic of Ireland ("Additional Rights"). This opens up a new
sales market for Formjet and the Additional Rights will initially run for a
three year period.

Last year Panda Software revenues across the Group increased by nearly 10%,
which made the UK one of Panda's leading international partners. This sales
growth was across both Formjet's retail and corporate sectors - with corporate
revenues growing by over 7% to make up a significant 45% of total Panda revenue.
Meanwhile, white label Panda sales rose by 67% during 2007 compared with 2006.

Lyndon Chapman Executive Chairman of Formjet said: "We are delighted to have
further strengthened our relationship with Panda Software. Our UK operations
continued to perform well last year, and the fact that we have extended our
exclusive relationship into a new territory is very pleasing. We hope that once
our operations in the Republic of Ireland are up and running that this region
will prove a useful addition to our portfolio."

ENQUIRIES:

Formjet Plc                               Tel: 01293 848 860
Lyndon Chapman, Executive Chairman
Tony Lee, Chief Executive
www.formjetplc.com

Blue Oar Securities Plc                   Tel: 0207 448 4400
Romil Patel/Rhod Cruwys
www.blueoarsecurities.co.uk

Bishopsgate Communications Ltd            Tel: 0207 562 3350
Maxine Barnes
Nick Rome
www.bishopsgatecommunications.com





Notes to Editors:



Formjet Plc



Formjet Plc is a UK-based company with a highly distinctive business model. It
acquires territorial rights to 'alternative' software products, and markets,
sells, distributes and supports these products in place of the vendor in
worldwide markets. The strategy has at its heart the proposition that the
Company can acquire product lines in territories of at least one country without
the expense of either product development or the creation of IPR. The Formjet
Group currently has three focussed strategies:





Alternative Products

*         Panda Software (UK) distributes Panda Software antivirus and security
products in the UK. With its high margins and recurring annual renewal revenues,
Panda is a major contributor to the Group's sales and profitability.

*         Ability Software International distributes a powerful suite of office
products. The Ability products form an integral part of the white label
opportunities that Formjet is creating. The Tesco Complete Office and Photo
Restyle products are amongst the best selling of their range

*         Diamond Discovery Software is a new accountancy range designed to grow
with its end user. The range complements Formjet's Panda and Ability software
offerings and will be sold under the Diamond Discovery Prelude and Formjet
Accounts brands.

*         EdAlive edutainment software will open up a new and growing market for
Formjet and will cover a range of subjects including maths, word skills and
spelling



Alternative Routes to Market

*         Formjet Innovations is the specialist distribution arm of the Formjet
Group focusing on its alternative product range and associated alternative
routes to market.  The focus here is on creating "white label" software,
targeting retail and brand leaders.



Research & Expansion

*         The focus here is on targeting new product ranges and potential
acquisitions as Formjet builds on recent business wins with Tesco, Dell,
Woolworths and Jungle247. With the ongoing opportunities of launching new
alternative products, and the need to expand/refresh the current products,
research and expansion will play an important role in developing the business.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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