NES Netstore

    
  NetStore PLC
  08 July 2008
   

 For immediate release   8 July 2008

    Netstore Plc ("Netstore")

    Netstore wins �5 million Six Year Contract Extension with 
    London Borough of Hackney 

    Netstore, a leading UK provider of IT outsourcing and IT security, today announces that it has won a contract extension with the London
Borough of Hackney ("Hackney" or "the Council") for a further six years for the provision of managed financials service worth �5million.

    Central to Hackney's decision to retain Netstore has been the formation of a close working relationship developed over the last four
years. During that time Netstore, together with Hackney, has cultivated an innovative partnership that has underpinned radical improvements
in the Councils financial management and service delivery. 

    Following Netstore's low-risk outsourcing model, the Council has implemented CedAr E5 Financials alongside significant business process
re-engineering. Improved financial control, electronic purchase ordering, electronic payments for citizens and smoother payment, all of
these processes have ensured that Hackney's transformation has been recognised by the Audit Commission. 

    Graham Kingsmill, Chief Executive Officer commented:

    "I am delighted to be announcing that Hackney has chosen to extend what has been an extremely fruitful relationship for both Netstore
and Hackney.  A six year commitment is almost unheard of in the IT industry as most customers look to three years as a typical contract
length. The fact that we have achieved a six year agreement is a strong statement, not only in the customers view of Netstore's capability
to deliver, but equally our ability to adapt successfully over time."

    John Delgado Head of Financial Systems for the London Borough of Hackney added: 

    "Netstore's public sector expertise has played an important role in achieving Best Practice and attaining consistent practices across
every Council directorate. By undertaking a long-term relationship with Netstore we can ensure that we build on this success and take it
forward The new contract will enable us to implement further enhancements to the financial systems, whilst at the same time giving our
customers and service providers, improved services and financial savings."

    For further information:
 Netstore plc (NES)              Tel:  0870 3006600
 Graham Kingsmill, CEO 
 David Memory, CFO
 Buchanan Communications        Tel:  020 7466 5000
 Charles Ryland /Jeremy Garcia
 Cenkos Securities              Tel:  020 7397 8900
 Ian Soanes


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