rogues: the sweet irony, page-3

re: macrae chat Yes this was a he who has the last loud laughing stock..

off the radar for most

I guess you read this by now...
...........

j:\users\cosec\publrel\prl-0001\octopus dispute resolution 110706.doc
DATE 11 July 2006
CONTACT Glen Smith
PHONE +61 8 9273 1100
FAX +61 8 9273 1208
EMAIL [email protected]
ERG and Octopus Cards Ltd (HK) dispute
settlement
ERG has reached agreement with Octopus Cards Ltd (HK) to amicably resolve a historical
disagreement regarding the ownership of the technology originating from their joint delivery
of the Hong Kong automatic fare collection system in 1997.
As a result of this agreement both parties will, in the future, be free to independently offer
their respective systems to the market. Neither party will challenge the other party's
ownership of their technology.
ERG acknowledges that OCL's Octopus Clearing House System ("OCHS") does not infringe
ERG's intellectual property rights. ERG retracts any claims it has made to the effect that the
OCHS constituted an infringement of those rights.
We anticipate that, going forward, there may be opportunities for the two companies to
cooperate on fare collection projects. The combined experience of the two companies
would offer enormous benefits to potential customers.
We believe the agreement represents a positive outcome for both companies and their
shareholders.
-END-
BACKGROUND INFORMATION
ERG Group
The ERG Group is a world leader in the development and supply of integrated fare
management and software systems for the transit industry, and for its smart card systems
and services. The Group has installed systems in major cities throughout the world
including Hong Kong, Melbourne, Rome, San Francisco and Singapore with installations in
progress in Gothenburg, Oslo, Seattle, Stockholm, Sydney and Washington DC. ERG has
delivered systems that support more than 20 million smart cards in circulation and handle
approximately 5 billion transactions per annum. ERG is an Australian-based company,
listed on the Australian Stock Exchange and employs approximately 900 people in 18 offices
in 11 countries.
Additional information is available at www.erggroup.com.