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Press Release

Nucleus Software, signs deal with GM

February 23, 2005 | Press Release
Nucleus Software has signed a large deal with General Motors' finance arm for installing its software FinnOne.
Nucleus has signed a deal in excess of $10 million with General Motors in Europe, Latin America and the Asia-Pacific region. Spread across four years, it has already been implemented in Italy.
Nucleus will install its software across 39 countries.
Speaking to CNBC-TV18, Vishnu Dusad, MD, Nucleus Software India commented on the GM finance order. He said, "This is an order which will run over a period of time and what is extremely important is that I am very proud to announce it on behalf of all my colleagues at Nucleus."

He added, "This is the first ever order for the size of the company of the General Motor which makes profits of $ 3 billion, to rule out this particular machine critical products in 37 countries all over the world. Latin America, Europe, as well as Asia Pacific. And this is machine critical for them in the sense that something like $ 300 million of profits that they make in international operation. That is going to be dependent on this particular product and best part is that they have done a due diligence over two years. The teams were visiting with our customers and talking to them in Tokyo, India, they have selected our products and we are very proud of this particular fact."

Commenting on the gains affecting the quarters in the near future, Dusad said, "I would request the viewers to consider the qualitative side which is machine criticality of the product. See, we have been working with the GM Corporation for the last four years and this particular deal is implemented for the next four years. And when a product is implemented at a enterprise level, it is a ten yearlong association. I guess numbers would happen may be next quarter onwards or next few quarters, that is when we will get to see the top line and bottom line impact."

About Nucleus Software

Nucleus Software Exports Ltd. is a publicly traded (BSE: 531209, NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders.

Nucleus Software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas. Its products facilitate more than 26 million transactions each day, managing over US $ 200 billion of loans and enabling more than 200,000 users logging in daily.

Nucleus Software’s flagship products, built on the latest technology are:
  • FinnOne NEOTM : The next-generation digital lending solution that is built on an advanced technology platform, designed to shape the future of lending across Retail, Corporate and Islamic sectors for banks and other financial service companies. The 10 time winner of ‘World’s Best Selling Lending Solution’, helps digitize the complete loan lifecycle.
  • FinnAxiaTM : An integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.
  • PaySeTM : The world's first online & offline digital payment solution designed and created with an aim to democratize money by making banking services available to the unbanked in remote geographies.
For more information, please visit : http://www.nucleussoftware.com

For Media related information, please contact:

Sunil Kumar Singh / Kiran Hans Khowal

Finese PR

Email: nucleus@finesepr.com
Phone: +91-9818363518 | +91-8375969143