MUL multiemedia limited

MUL - Coles Myer

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    www.multiemedia.com
    [email protected]
    multiemedia limited ABN 12 003 237 303 ASX Code “MUL”

    Multiemedia signs significant software agreement with
    Coles Myer subsidiary – Harris Technology

    Thursday, 23 rd May 2002

    Multiemedia (ASX:MUL) has signed an agreement with Harris Technology, a Coles Myer
    subsidiary and Australia’s leading online technology retailer, to incorporate Multiemedia website
    construction software into the retailer’s new online service - Harris Web Builder - a do-it-yourself
    web building and e-commerce capability for small and medium-sized businesses.
    Harris Technology will deploy ZoneStudio technology developed by Multiemedia in Harris Web
    Builder (http://htwebbuilder.com/) which will enable small and medium businesses to create
    websites from the comfort of their own home or office for a fraction of the usual cost of
    commercial web development.
    Businesses can choose from an entry-level branding and brochure website from $29 per month,
    to a fully-fledged e-commerce enabled ‘shopping’ site accommodating credit card transactions
    starting from $69 per month.
    The agreement is very significant for Multiemedia Limited, if over time, the parties can attract the
    40,000 customers envisaged. The average selling price for the product is expected to be in the
    order of $500 per annum per customer. More importantly, these customers pay monthly, so the
    revenue stream is ongoing for the life of the agreement. Given Multiemedia has already
    developed this product and support costs are low, the impact for profitability should be extremely
    positive.
    Harris Technology will undertake an aggressive marketing campaign to promote a product that
    managing director, Ron Harris, believes will generate on-going revenues for the two companies,
    whilst at the same time providing an innovative and cost-effective resource for small and medium
    businesses.
    “Harris Technology is a customer service driven technology supplier and the new Web Builder
    site adds a very important component to our services for customers requiring online business
    solutions,” said Harris at the launch of the site.
    According to Adrian Ballintine, Group Managing Director and CEO of Multiemedia, “This deal is
    a great endorsement of Multiemedia’s ability to develop and market software and should provide
    an immediate impact to our cash flow and bottom line.”
    Harris Technology will actively promote the Harris Web Builder site using links from its website
    (http://www.ht.com.au/), in spot advertisements in its catalogue (distributed to 300,000
    customers monthly), television advertising, and on other Coles Myer websites.
    Contact:
    Mr Adrian Ballintine
    Group Managing Director & CEO
    Multiemedia Limited
    Tel: 03 9603 3200
 
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