Losses from One-off Costs

RNS Number:4578Y
Formjet PLC
15 February 2006


For immediate release, 15 February 2006

                                        
                                  Formjet Plc
                                        
                  ("Formjet" or "the Company" or "the Group")
                                        
                      Increased Losses from One-off Costs


Formjet, the AIM listed alternative software vendor, announces that it expects
the loss for the year to 31st December 2005 to be significantly in excess of
current expectations. The increased loss is principally due to one-off,
exceptional costs and increased provisions occasioned by the closure of
Cambridge based operations and the relocation of all Group business units to
Crawley, West Sussex.

Commenting on the announcement, Finance Director Tony Lee said "The Board has
reviewed its policy on the treatment of exceptional costs and provisions and
considers it would be prudent to write off all one-off costs arising in the last
financial year. This will provide a clean foundation from which Formjet can
exploit its opportunities in the current year."

He added "The Board remains confident that expectations for 2006 are realistic
and achievable."

Recent board changes at Formjet include the appointments of Tony Lee as Finance
Director in December 2005 and James Heyworth-Dunne as a non-executive director
and Chairman in January 2006.

Lyndon Chapman, the Group's CEO said "I believe that our restructured Board
contains the right mix of skills and experience and is already providing
improved controls, which should lead to enhanced performance."



For further information please visit www.formjetplc.com or contact:

Tony Lee, Finance Director             Simon Hudson
James Heyworth-Dunne, Chairman         Clemmie Carr
Formjet Plc                            Tavistock Communications
Tel: [phone]                      Tel: [phone]



Notes to editors

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 we can
acquire product lines in territories of not less than a country without the
expense of either product development or the creation of IPR. The Formjet Group
currently has four product lines: Panda Software and Filestream are UK licences
and Ability and Software Dialog are worldwide.

Formjet reaches a customer base of more than 250,000 direct customers and in
excess of 3,000 corporate clients. This market penetration has been achieved
through careful research into relevant territories and then applying the most
suitable routes to market, whether through distribution and/or reseller
partners, or via direct sales. Formjet acquired SouthCoast Distribution, a
specialist OEM provider to system builders in July 2005.



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

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