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New owners and management at Watermark

Veenendaal, April 22, 2005 -- As per today a syndicate of new management and financial investors has signed a definitive agreement with the shareholders of Watermark to take over Watermark. Completion of the transaction is expected to take place shortly.

The new management consists of Tom Stolk, as new CEO and Frank van der Woude as new COO. Both Stolk and van der Woude have extensive experience in senior management positions in the international software and services business at Fujitsu, Philips and Imtech. The financial investors are ABN AMRO Capital and Prime Technology Ventures.

The syndicate will make capital available to Watermark to further strengthen the company’s leading market position for both the SSA-Global and the Microsoft Business Solution business across Europe.

Tom Stolk comments that: “We are glad to start as new management and investors in Watermark. Watermark holds an excellent market position and brand image with Microsoft Business Solution products as well as with the SSA Global products. Watermark employs world-class people working on both local and cross-national customer projects. As new management we will continue to build upon the strategy as a competitive Pan-European organisation that can deliver state of the art industry solutions for our target markets. The contribution of two strong financial partners will give us the ability to accomplish our strategic goals”.

Former CEO Wim Heijting states: ‘’I am very pleased with this transaction and the capital that will be made available to Watermark by the new shareholders. It will contribute to further increase the footprint of Watermark in its current markets with Microsoft Business Solutions and SSA Global and accommodates continuous growth in its core countries. We have built, on top of our SSA Global business, a new business unit of Microsoft Business Solutions that today is amongst the top 3 global players.“

The new management team will be in place as of today and will be located at the premises of Watermark in their Veenendaal office in The Netherlands.

Financial details will not be disclosed.

Watermark has 460 employees serving over 1200 local and international customers. For the last five years the highly qualified consultants of Watermark accomplished more than 1200 projects throughout Europe. With 23 local offices in 12 European countries and a global network of implementation partners Watermark has a significant international presence. Watermark has its headquarters in Veenendaal, The Netherlands.

Watermark is the specialist in implementing ERP, CRM as well as PDM, Supply Chain Systems, and E-Business applications from vendors like Microsoft Business Solutions and SSA Global. Through the years Watermark developed and now successfully executes a standard Multinational Pan-European implementation methodology WaterProof.

Publisher Contact Information:

+31 (0) 318 582 700

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