Transoft Launches Australian Outsourcing Subsidiary

Transoft expands further in Australian Market

Cary, North Carolina, (PRWEB) November 10, 2003 --Transoft International Inc., the recognized leader in currency management solutions for banks of all sizes worldwide, have entered into a joint venture with LKS Pty Ltd in Melbourne, Australia. LKS has successfully been optimizing cash costs for Australian institutions in the last 5 years for such clients as Bendigo Bank Ltd.

Transoft Currency Management Services Pty Ltd. (TCMS) will initially offer optimization services to the Australian market using Transofts software products. OptiCa$h is in use across six continents, creating cost optimized recommendations for ATMs and branches.

The combination of Transofts best-in-breed OptiCa$h software and LKS years of local outsourcing experience, both with proven track records, creates an unbeatable combination. We have been able to drive unique efficiencies such as ATM rebanks in the 14-15 % range with extremely few cash outs. TCMS will be able to offer these services at lower costs than internal efforts", says C. H. Saw, Director of TCMS.

Tony Rowe, Director of Transoft Asia-Pacific Pty Ltd. adds, Transofts commitment to the Australian market place is further strengthened by this approach. Several years ago we established ourselves locally with technical support, and after years of talking about outsourcing, its time has come -- we have surveyed the market place and move now to address an identified need."

Transoft established this JV with an eye to the global market place, where several partners around the world, such as NCR and Diebold, already offering OptiCa$h services may benefit from TCMS OEM services in areas where it is not practical to establish local service centers for Currency Management. Bo H. Holmgreen, President of Transoft International, Inc. commented: This is a natural extension of our decade worth of world-wide expertise in Currency Management. Lately Transoft has entered into consulting and outsourcing with several partners, and we expect TCMS to further boost their efforts. Our emphasis is on cost minimization and high cash availability. Both TCMS and the underlying tools in OptiCa$h can proudly display this complete dedication to bottom-line cost orientation."

Transoft International, Inc. develops end-to-end currency management solutions for the banking industry. These solutions manage and optimize cash levels within the vault, branch and ATM networks. With customers spanning 6 continents, Transofts solutions manage cash for nearly 100,000 ATMs and branches. These solutions are offered directly to customers as
in-house systems or via partners.

Transoft International, Inc.
Turid Kaehny
919.678.9192
turid.kaehny@transoftinc.com
###