Highlights

· Trading in the year in line with market expectations

· StatPro Revolution annualised recurring revenue more than trebled to US$2.5 million (£1.5 million) at 31 December 2012 (2011: US$0.7 million/£0.5 million)

· StatPro Revolution now has 21 fund administrator partners (2011: 10), a key target market for the service, including 6 of the major operators (2011: 1)

· Successful Placing completed in November 2012 raising £5.8 million (net of expenses)

· Group had net cash of approximately £3.7 million at 31 December 2012 (2011: net debt £3.4 million)

We are pleased to report that trading in the year was in line with market expectations. Renewal rates for StatPro Seven remain high at around 92% (2011: 92%) and Group revenue and adjusted EBITDA are in line with expectations. Continued positive operating cash flow, combined with the Placing in November 2012, which raised £5.8 million (net of expenses), has enabled the Group to eliminate its debt (whilst keeping the facility in place). Net cash was approximately £3.7 million at 31 December 2012 compared with net debt of £3.4 million at the end of 2011.

StatPro Revolution

The good progress with StatPro Revolution, our cloud-based portfolio analysis platform, continued into the final quarter, with annualised recurring revenue more than trebling in the year to US$2.5 million (£1.5 million) at 31 December 2012 (2011: US$0.7 million/£0.5 million). Perhaps more importantly, two further significant distribution partners have been added, the first being a major UK-based fund administrator and, post year end, a global top 10 US-based fund administrator. As a result, we now have 21 fund administrator partners for StatPro Revolution (2011: 10), a key target market for the service, including six of the major global operators. We expect these distribution partners to be a major provider of new StatPro Revolution clients.

All StatPro Revolution clients have the potential to add many more pd many more portfolios as they increase their use of the service.

New features and functionality will continue to be added during 2013 and, as outlined in our announcement on 9 November 2012, we plan to increase expenditure on development, client services, sales and marketing in 2013 to add momentum to the service.

Focus on cloud technology

StatPro's investment in cloud technology means that we are strongly placed compared to our peers to exploit the new technology shift. The breadth of the potential market and the innovative business model we have adopted will help change the way portfolio analysis is consumed in the market.

Outlook & Notice of Results

We believe that our investment in new technology will yield benefits and enhance our competitive advantage. Overall, we believe that with our high level of recurring revenue coupled with the early success of StatPro Revolution we can look forward to 2013 with confidence.

The Board will provide an update on the outlook for trading in 2013 with the Company's preliminary results on Wednesday, 13 March 2013.

Justin Wheatley, Chief Executive, commented: "We are seeing a growing awareness in the global asset management industry of the requirement to increase oversight of trading activities. StatPro Revolution's ability to provide highly detailed portfolio analytics, instantaneously and concurrently to multiple parties through the use of cloud technology places it at the forefront of this shift in the industry. We are extremely pleased with the traction we are gaining in the key fund administrator market and are confident in the prospects of the Group."