March 31, 2003

OTCO GOES INTERNATIONAL

OTCO has entered in to a Joint Venture Agreement with ENEM-OMNI Companies of Bangladesh for marketing software products and services in Bangladesh. The agreement was signed on 31 March 2003 in Dhaka by Mr. Neo G. Mendes, the Managing Director of EMEM-OMNI Companies and Mr. Raghav Biliya, the Director of OTCO International Ltd. This will lead to setting up of a Software Company in the name of OMNISOFT Limited in Bangladesh with joint equity holding. ENEM-OMNI Companies are a reputed business house in Bangladesh with wide spectrum of business activities. With the proposed OMNISOFT Ltd. operation, they will be entering technology arena too.

Bangladesh is a home and ocean too of micro finance operation. With OMNISOFT operation there, OTCO will introduce their prime end-to-end ERM solution made specially for the micro finance NGOs to the local organizations in Bangladesh.

In addition, the other software products and services of OTCO such as HRMS, Payroll, Financial Accounting, Fixed Assets, Budgeting, Purchase & Inventory Management, Call Taxi Operation Management, Church Management, School Management etc. will also become available to Bangladesh clients through OMNISOFT Limited. The customisation support and after sale product support will be provided locally from Dhaka office of OMNISOFT Limited.

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