ReadSoft strengthens existing Fortune 500 customer relationship through expanded agreement worth $330,000 USD

ReadSoft strengthens and expands existing business commitment with a North American-based Fortune 500 industrial equipment and manufacturing company. The new deal is an expansion of ReadSoft`s accounts payable automation solutions to additional business segments and is valued at $330,000 USD. The next step of the roll-out is targeted for the first quarter of 2010.

The Fortune 500 multi-industry company continues to roll out ReadSoft`s solutions into various business segments. The company is committed to continuously improving its environmental performance, and therefore put an automation solution in place to reduce paper and provide a more electronic procedure, along with making the accounts payable processes more efficient, controlled and visible.

Based on the existing ReadSoft implemented solutions and its world-leading position with thousands of users worldwide, the customer continues its roll-out of ReadSoft`s solutions to not yet implemented countries. The intent is for all business segments around the world gain the efficiencies that have accompanied ReadSoft`s accounts payable optimization solutions in other parts of their organization.

"ReadSoft is very pleased to partner with this organization to improve the efficiency of accounts payable processes in all its operations," comments Jan Andersson, CEO of ReadSoft. "This deal demonstrates ReadSoft`s leading position, commitment to customer satisfaction and shows that our end-to-end solutions provide the benefits our customers are looking for."

For additional information, please contact

ReadSoft AB
Jan Andersson, CEO
Phone: +46 708 37 66 00
Johan Holmqvist, Vice President, Corporate Communications
Phone: +46 708 37 66 77
Email: johan.holmqvist@readsoft.com
                      

About ReadSoft
ReadSoft is a leading global provider of software solutions for Document Automation. ReadSoft’s software enables companies to automate document processes such as data entry, classification, ERP matching, workflows, e-invoicing etc. The results are faster and less expensive document processing, and increased control. ReadSoft is by far the world’s number one choice for invoice automation solutions. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the Nasdaq OMX Nordic Exchange Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.