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Technology Stocks : MGHI - Mirage Holdings Inc. -- Ignore unavailable to you. Want to Upgrade?

To: T A P who wrote (24)	4/2/1999 3:39:00 PM
From: T A P	Read Replies (1) \| Respond to of 38

MGHI NEWS!!! Network Solutions (Pvt.) Ltd. ('Netsol') Has Been Appointed as the First Distributor for SAGE Software in Pakistan SANTA MONICA, Calif., April 1 /PRNewswire/ -- Mirage Holdings, Inc. (OTC Bulletin Board: MGHI - news; ''Mirage'') today announced that its subsidiary, Network Solutions (Pvt.) Ltd., has been appointed as the first distributor of Sage software products and support services for a huge and untapped market in Pakistan. Sage is headquartered in Newcastle, U.K. and is the World's largest supplier of PC based accounting systems. Sage is a publicly traded company in the U.K trading under the symbol SGE. Mr. Naeem Ghauri, Managing Director of Netsol UK, Ltd., successfully negotiated the appointment of the distributorship for the related company Network Solutions (Pvt.) Ltd. Mr. Ghauri commented, ''We believe there is a tremendous opportunity to launch the Sage accounting systems in virgin markets like Pakistan. This is a region where small to medium size companies typically only use some form of in house accounting systems. The Sage accounting systems, which have been recommended by a number of accountants in Pakistan, are designed to simplify management accounts, internal accounting controls and procedures for end users.'' He continued, ''with a solid marketing and launch plan, Netsol could penetrate the Pakistani markets targeting small to medium-size businesses and accountants. This breakthrough development will add a new profit center for Netsol and also technologically complement Netsol's existing product lines.'' Sage is a U.K based software company which develops and markets a range of software products, targeted towards small to medium sized businesses with a choice of progressively more comprehensive solutions. Their series of products provide complete accounting solutions from a sole-proprietor to multi-million dollar corporations. This comes not simply from the easy-to-understand, easy-to-use and flexible design of the products, but from access to the knowledge base and services of the world's largest supplier of PC accounting solutions. Sage currently looks after more than 1,000,000 small businesses around the world, with market leading positions in the UK, France, Germany and the US. Sage recently acquired a US based software developer, State of The Art, a leading vendor of accounting software through the US VAR channel. This provides Sage with an important strategic presence in the US market place. The new relationship of Sage with Network Solutions (Pvt.) Ltd., is not just limited to the Pakistani market but will be expanded to India, Bangladesh and other markets in the region. Based on the initial success of the Pakistan launch, Sage has in principal, agreed to award distribution rights to Network Solutions (Pvt.) Ltd., to resell their products in these markets as well. Mirage Holdings, Inc. presently owns 51% of Network Solutions (Pvt.) Ltd. and 43% of Netsol UK, Ltd. As announced earlier, Mirage is in the process of acquiring the 100% of both Network Solutions (Pvt.) Ltd., and Netsol UK, Ltd. Included in this material are 'forward-looking statements' within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements would prove to be correct. For further information, please visit our Investor Relations Web Site: www.mghi.com or contact: Najeeb Ghauri of Mirage Holdings, Inc., 310-395-4073, or 310-395-3073, najeeb@mghi.com. SOURCE: Mirage Holdings, Inc. T A P has received 30K shares of MGHI from Clearweather Investments Ltd. for services provided for a period of 6 months For a complete write-up on other Turn Around Picks go to T A P profile for url.