SYG synergy equities group limited

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    SYNERGY EQUITIES GROUP LIMITED 2002-10-22 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Synergy Equities Group Limited ("SYNERGY" or "the Company") is
    pleased to announce that the Company's wholly owned subsidiary,
    Synergy Business Solutions Australia Pty Ltd ("SYNERGY Australia") is
    to internally undertake the preparation of a formal Corporate
    Business & Marketing Plan ("Business Plan") for the "online website
    ticketing & payment authorisation solution" ("SYNERGY Ticketing").

    BACKGROUND

    SYNERGY Australia has recently executed a Memorandum of Understanding
    with the Royal Perth Yacht Club of Western Australia (Inc) (as
    announced to the ASX on 17 October 2002), to provide the club with
    SYNERGY Ticketing. This affords SYNERGY Australia the opportunity to
    further develop and enhance its base SYNERGY Ticketing solution, such
    that additional value added services can be provided.

    The Company's Board of Directors has agreed that a Business Plan is
    to be developed for SYNERGY Ticketing by 20 December 2002. It is
    intended that the Business Plan will be completed by SYNERGY
    Australia and accepted by the Company's Board, prior to the
    commencement of the commercialisation of SYNERGY Ticketing to the
    wider market in late January 2003.

    Remembering, SYNERGY Australia is the preferred supplier of "payment
    and web ticketing solutions" for Box Office Computing Systems ("BOCS
    Ticketing") in Australia and as such, process credit card ticketing
    payments for the Sydney Opera House through the SYNERGY TradeCentre /
    SYNERGY DataCentre in real-time. SYNERGY Australia is therefore well
    experienced with these types of requirements.

    INTRODUCTION

    A document referred to as the "Scope of Future Business Direction for
    SYNERGY Ticketing" has been prepared. This document outlines the
    proposed approach to the preparation of the Business Plan. The
    Company's Board has confirmed that the outline in the document is
    suitable for the intended purpose.

    TERMS OF REFERENCE

    The terms of reference is to prepare the Business Plan incorporating
    researched and available information into a professional document
    that is to be used for implementing, managing and monitoring the
    commercialisation of SYNERGY Ticketing for the next two (2) years.

    The Business Plan may also be used to establish a business format for
    the preparation of plans for other technologies developed by SYNERGY
    Australia for commercialisation in the future. The Business Plan will
    be a wide ranging strategy document and will be developed from an
    analysis and understanding of all aspects of the technology, its
    commercial benefits and opportunities with specific attention to
    technical quality, market orientation and implementation.

    SCOPE

    The scope of the Business Plan will be detailed accordingly and
    include the following:

    * Statement of purpose;
    * Business profile;
    * History of products & services;
    * Philosophy;
    * Business mission;
    * Corporate goals;
    * Product description;
    * Technology & Human resources;
    * Operational details;
    * Corporate structure & management;
    * Financial plan;
    * Action plan & implementation schedule;
    * Analysis of risk; and
    * Appendices.

    TIMETABLE

    It is envisaged that SYNERGY Australia will complete the Business
    Plan over a nine-week period commencing during the week ending 27
    October 2002 and concluding no later than Friday 20 December 2002.
    SYNERGY Australia and the Company's Board have agreed specific
    milestones and checkpoints. It is further envisaged that the final
    document will be formally approved by the Company's Board prior to
    commencement of business operations in January 2003.


    R Moir
    MANAGING DIRECTOR


 
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