[Apr. 13, 2004  Hong Kong]— China' s number one enterprise management solutions provider, UFSoft, today announced that it is changing its name to "Ufida", in a move that symbolizes the company' s transition from a China-focused ERP vendor into a global solutions provider.

This rebranding exercise, Ufida's first global announcement, and its decisive entry into the international enterprise management software space, reflects the growing demand for enterprise software solutions around the world. International Data Corp. (IDC) reported that in China alone, that market has grown 20.7% over the previous year, reaching US$299 million in 2004, while the ERP applications market is expected to grow modestly through 2007 at a compound annual growth rate of 3.3%, hitting $28 billion by 2007.

"The software market has evolved; product and services must now work hand in hand to deliver value to enterprises. Ufida will develop along this strategic direction," said Wang Wen-jing, Founder and CEO,Ufida.
"We are fully prepared, and excited to meet bigger challenges ahead as we evolve from a domestic software company into an international market leader. We are proud to mark this transition by adopting our new name, Ufida – with 'U' referring to you, our valued customers and 'fid' being the root for 'fidelity'. The new name reinforces our company's pledge as a trusted partner for our customers," Wang added.

    Global expansion
To reinforce its global expansion and to support its vision of becoming a world- class software company and one of the top 50 global software vendors by 2010, the company has upgraded its Hong Kong office into a regional headquarters, supporting operations in Greater China and Southeast Asia. The company currently manages over 50 branches in China, Hong Kong and Japan with distributors in Thailand and other countries. Its customer base includes multinational corporations from developed countries, Japan- and Hong Kong-based SMEs and numerous China customers with overseas operations demanding management solutions to support cross-border operations or overseas businesses.

Part of Ufida's globalization plan was to provide products in different languages and comply with international standards while enhancing its application program interface and international functionalities. Crucial to this is the hiring of local and foreign staff with international market experience in its regional headquarters and overseas offices to enable global management and operational standards.
The company will also boost its relationship with both regional and global industry players by creating a series of partner program to bolster its 400,000 customer base. Moreover, the company is currently building a sprawling Ufida Sofware Park in Beijing, China, which can house over 10,000 software engineers. Construction of the complex will finish in 2006.

"The global economy has changed rapidly over the past few years. China's entry into the WTO and the formation of the Closer Economic Partnership Agreement between China and neighbouring cities presents greater opportunities for both domestic and foreign companies, which means tighter competition. Ufida is committed to affirming its local expertise while strengthening its presence in the Asia Pacific region, and ultimately the international market," said Wu Qiang, Vice President for International Markets, Ufida.

Ufida will strengthen its operation in five focused markets, namely Greater China and Southeast Asia, Northeast Asia, Middle and West Asia, South Asia and the Pacific region. The Hong Kong office will operate as the headquarters for Greater China & Southeast Asia, including Macao, Taiwan, Singapore, Thailand, Malaysia and other countries.

    Market and technology leadership
Established in 1988 as a 2-man operation, Ufida has grown to become China's undisputed leader in ERP, enterprise management software and financial software markets from 2002 to 2004, according to reports from leading global research agencies IDC, CCID Consulting and China Computer World Research (CCWR). In 2004, Ufida captured 21.9% of the ERP market in the PRC, according to CCID Consulting.
Listed in the Shanghai Stock Exchange in 2001, the company has achieved an impressive annual turnover of nearly US$88 million last year.

Ufida offers a comprehensive range of industry-specific enterprise management solutions, including U8 Enterprise Application Suite for SME customers, Financial Assistant Suite for small-size companies and NC groupware solution for large corporations.

Ufida enterprise management solutions cover manufacturing, purchasing and sales, financial management, human resources, supply chain management, collaboration, performance management, business intelligence and customer resources management. Supporting its extensive enterprise management modules are a range of professional services that provide added value to growing multi-site customers including IT consulting, maintainance and support, training and IT outsourcing.

To beef up its offerings, the company has established technology alliances with the world’s leading IT vendors, including Microsoft, IBM, Sun Microsystems, Intel and HP, that resulted in enhanced development of Ufida's cutting-edge enterprise software solutions.

About Ufida
Ufida Software Co. Ltd., one of the leading providers of management software solutions in Asia, is recognized as an outstanding software company producing high quality products and professional services to a vast customer base of over 400,000 in China and the Asia Pacific Region.

Focused on the global market, Ufida delivers a wide range of management software products covering accounting, ERP, SCM, CRM, HR and other vertical industry solutions such as e-government, finance, and asset management. Recognized as the No. 1 provider of management solutions in China over the past five years, Ufida is a holder of ISO9002 certification and one of the six China companies to obtain CMM Level 5 certification.

Based in Beijing and listed in the Shanghai Stock Exchange (SSE:600588), Ufida manages over 50 branches and offices in China, Hong Kong and Japan with regional headquarters located in Hong Kong.