Nasstar plc wins outsourcing contract with Corvus Capital Inc

Added: (Tue Sep 26 2006)

Pressbox (Press Release) - Nasstar plc (“Nasstar” or “the Company”), which supplies business software over the internet, today announces a new 2 year contract with AIM listed Corvus Capital Inc (“Corvus”), Andrew Regan’s international investment company. Corvus, through its subsidiary CVS Management Limited, has agreed to extend its outsourcing arrangement with Nasstar by entering into a new two year contract, the terms of which provide that all of Corvus’ IT requirements are being outsourced to Nasstar including email to Blackberry and mobile phones, internet connectivity, networks at Corvus’ offices, web hosting and hosted applications including Microsoft Exchange, Microsoft Office and accounting software. As Nasstar supplies software over the internet, access to Corvus’s software applications such as email and accounts will be over a secure internet connection. Under the contract Corvus will pay a monthly rental based on usage of the software.



Nasstar was admitted to AIM in December 2005. The Company is an Application Service Provider supplying software over the Internet. The service involves hosting applications such as email, Microsoft Office, accounts software and CRM systems from a purpose-built data centre, providing a centralised supply of software applications accessible over the Internet. Customers pay for usage on a monthly basis, making delivery of core IT services a utility. As set out in the AIM Admission document, Nasstar proposes to grow its business both organically and through acquisition.



Charles Black, Chief Executive of Nasstar said
“We are delighted that Corvus have committed to a long term arrangement. Our hosted applications, including Microsoft Office and Exchange, provide great flexibility to Corvus. With our hosted model of service provision there is no need for us to set up servers on site or install Microsoft software. Our service is centrally controlled and supported which makes it easy to support and scale up quickly for new users.“



Sam Glover, Head of the Technology investment team at Corvus, said
“Nasstar provides a completely scaleable outsourced ASP solution which allows us to focus on investment. Nasstar are also supplying a number of our investee companies with similar fully hosted ASP services which have helped reduce the IT overhead, streamlined operations and provide 24/7support at relatively low cost which is visible on the bottom line. A number of our other investments are likely to follow suit as the benefits are obvious and setup and transfer of data to the Nasstar service has proved to be painless. In some cases companies and their staff have been set up with dedicated server space, Microsoft Exchange based email and Microsoft Office in a matter of minutes. We look forward to working with the team at Nasstar who we are confident will support us through our planned growth over the next two years.



Further Information:

Nasstar is an Application Service Provider which supplies software over the Internet. Please visit http://www.nasstar.com

Corvus Capital Inc is listed on the London Stock Exchange AIM. Please visit http://www.corvus.com



Contact information:



Nasstar plc

Charles Black, Chief Executive

cb@nasstar.com

0870 240 1634 - Telephone



Corvus Capital Inc

John Bick

0870 389 6999 - Telephone



W.H. Ireland Limited

Ruth Gifford or Tim Cofman

0121 616 2101 - Telephone



The information contained herein is restricted and is not for release or distribution in or into the United States of America, Canada, Australia, the Republic of South Africa, the Republic of Ireland or Japan.



This press release has been issued by Nasstar plc and is the sole responsibility of Nasstar plc and has been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000 by W.H. Ireland Limited ('W.H. Ireland') of 11 St James's Square, Manchester, M2 6WH. W.H. Ireland, which is regulated by the Financial Services Authority, is acting as the nominated adviser for Nassar plc and will not be responsible to any other person for providing the protections afforded to clients by W.H. Ireland or for providing advice regarding the Placing.



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