Alchemy Software Development continues robust financial performance

Alchemy Software Development reports revenue growth of 54% for Q1 2004

DUBLIN – June 24, 2004 – Alchemy Software Development Limited, the leading visual localization tools provider, today announced revenue growth of 54% for Q1 2004 compared to Q1 2003. This is their 15th consecutive quarter of double-digit revenue growth and affirms their dominant market position and technology leadership in visual localization technologies.

Commenting on their robust financial performance, Tony O'Dowd, CEO and President of Alchemy Software Development said, “We are excited to continue our revenue growth and have such tremendous momentum coming into this new financial year. With 80% of the world's top 50 software development companies using Alchemy CATALYST™, we're perfectly positioned for growth - with the strength, knowledge, enthusiasm and proven experience to continue delivering high returns and competitive advantage to our clients that sell in the global market place.”

Demonstrating innovation and leadership, Alchemy CATALYST™ 5.0 was introduced to solve the most pressing problems of globalizing software products. In Q4, the company teamed with Microsoft, to unveil the Alchemy .NET Visual Localization Component - an industry-first visual localization solution for Microsoft mobile, .NET and internet applications. Alchemy also released additional localization solutions during the year for XLIFF, XML and database technologies such as Oracle, Microsoft SQL and IBM DB2.

Alchemy Software Development Ltd. Has its headquarters in Dublin, Ireland at Harcourt Business Center, Harcourt Street, Dublin 2.

Alchemy Software Development Limited
Alchemy Software Development is the market leader and pioneer of Software Globalization Solutions. Multinational enterprises developing applications for Java, Windows9x, NT, ME, 2000, XP, SymbianOS, .NET, and XML, use Alchemy technology to accelerate entry to international markets, improving revenue growth opportunities and reducing their costs.

Alchemy's technology is designed to boost the efficiency and quality of globalizing software products and is used by software development and globalization companies worldwide. With over 8,000 licenses installed worldwide, Alchemy CATALYST™ is used by translators, software engineers, quality assurance specialists and project managers and is referred to as the Gold Standard in Localization.

Corel Corporation Limited holds a 24.9% stake in Alchemy Software Development Ltd. Alchemy Software Development has offices and facilities in Canada, Europe, Asia-Pacific and the United States.

For more information on the company and its products, please refer to http://www.alchemysoftware.ie/