MYOB Premier Offers Multi-Currency Accounting and Robust Inventory in an Affordable Package; Substantial Upgrade Also Includes Professional Time Billing.

ROCKAWAY,N.J.--(BUSINESS WIRE)--August 2,1999--

MYOB US, Inc. today announced the release of MYOB Premier Accounting Version 2, featuring Multi-Currency accounting, Multi-price level Inventory and Professional Time Billing. These solid new features and its continued Year 2000 compliance combine to make Premier the preferred accounting solution for growing businesses and their accountants. MYOB Premier delivers a powerful solution to small to mid-size businesses - including most of the features and functionality of the mid-range leaders. And at under $500, it's about one fourth the price.

ACCURATE MULTI-CURRENCY ACCOUNTING - EFFORTLESSLY 

Small businesses currently account for 30% of U.S. exports. MYOB Premier Version 2 responds to their needs and to the special needs created by e-commerce and the advent of the Euro, by providing strong and accurate multi-currency accounting at a fraction of the price of other multi-currency packages.

MYOB Premier allows companies that deal in multiple currencies to sell and purchase goods and services in foreign currencies and track foreign currency asset and liability accounts. Premier users can use foreign currencies to transact sales and purchases, enter customer payments and pay vendors, make general journal entries, write checks and make deposits. MYOB will keep track of exchange rates at the transaction level to assure accuracy, automatically post realized gains and losses and report on unrealized gains and losses.

"Premier is the right solution for those who see that the world wide web is creating a global small business market." said Christopher Lee, President, MYOB US, Inc. "It's a product that reflects the demand for powerful functionality at an affordable price."

ROBUST INVENTORY TO MANAGE YOUR PRODUCT LINE EFFICIENTLY AND EASILY

Recognizing that effectively managing your product line can result in significantly more sales, MYOB has substantially revved up Premier's inventory capabilities. Premier's new multiple price levels allow managers to map out pricing and sales strategies based on quantity price breaks and by customer status. 3 user-defined lists per item are searchable on reports and the addition of 3 user-defined text fields allows the tracking of whatever item specific facts are pertinent to the user. Now more than ever, MYOB's flexibility makes it easy for the user to customize information for better and more efficient inventory management.

PROFESSIONAL TIME BILLING - STRONG ACCOUNTING BEHIND EASY DATA ENTRY

First introduced to the small business accounting market by MYOB Accounting Plus, MYOB's Professional Time Billing is the number one feature credited with MYOB's hottest upgrade sales to date. "The response to MYOB's time billing has been nothing short of phenomenal," said Dale Rolley, Director of Sales & Marketing. "We've obviously fulfilled the Time Billing needs of many of our professional users."

The success of MYOB's Professional Time Billing has been its focus on flexibility for those who need to customize billing structures. Premier allows users to bill by customer, employee or activity and to enter billing by single activity slip or all at once in a daily log. It also allows billing in units as well as hours and includes the options of automatically rounding up or down or to the nearest user-defined increment. Premier users can track both billable and non-billable time. Very important to most professionals who bill by time, Premier accurately tracks write-offs and carryovers, giving the user the flexibility to defer, donate or cancel billing for time spent, while maintaining a complete audit trail of the original time.

MYOB PREMIER AVAILABILITY

MYOB Premier is a fully integrated, double entry, multi-user accounting system featuring general ledger, checkbooks, sales & receivables, purchases & payables, payroll, time billing, inventory and contact card file. MYOB Premier is available on Windows and can be ordered direct from MYOB US, Inc. by calling Customer Service at 800-322-MYOB(6962) or from MYOB Partners - independent professionals who recommend, implement and support MYOB products. MYOB Partners include Certified Consultants, Accountant Club members, Premier Resellers and Consultant Associates. A directory of MYOB Partners can be found on the MYOB US, Inc. web site at www. myob.com/us, or by calling MYOB Customer Service.

MYOB Premier sells for $449 and includes a license for 3 simultaneous users and one year Premier Membership, including toll-free technical support, payroll tax tables and all product upgrades and updates produced during that time.

ABOUT MYOB US, INC. AND MYOB PRODUCTS

The MYOB family of products also includes MYOB Accounting Plus for Macintosh and Windows. MYOB Plus is a robust multi-user ready product for growing businesses and includes time billing and payroll. Like all MYOB products, MYOB Plus is a fully integrated, double entry accounting system.

MYOB US, Inc. is one of the MYOB family of companies and has been on the front lines of the micro-computer information revolution since 1983. With affiliates and publishing partners worldwide in the United States, Canada, Australia, the United Kingdom, New Zealand, South Africa, Singapore and Malaysia, the companies have helped more than 350,000 small businesses manage their finances more efficiently.

MYOB US, Inc.'s home page on the World Wide Web can be found at www.myob.com/us.

MYOB and the MYOB logo are trademarks and M.Y.O.B. is a registered trademark of MYOB US, Inc.