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December 18, 2006

CODA selected for UK rail settlement project

CODA plc has been selected to provide financial software for a $58m (30m pound) business process outsourcing project for a UK rail operator.

By CBR Staff Writer

CODA’s Financials software has been selected by Atos Origin as part of a project to deliver an automated system for allocating UK passenger rail revenue to train companies to the Rail Revenue Settlement Service agency. The total revenue managed by the settlement system will exceed $5bn.

The contract is for 12 years. CODA realizes around $1m in software and services revenue in the first year of the contract.

The settlement automation project is part of the Rail Settlement Service’s ongoing modernization of its IT infrastructure. The first phase of the project is due to be complete in September 2007.

Atos Origin’s role is managing the transition of the settlement of all tickets purchased directly from train operators online, over the telephone, at stations or on trains, to the new CODA-based financial software infrastructure.

The second phase is due to be complete in April 2008, by which time Atos Origin will transition the service for tickets purchased by travel agents, and warrant account holders as well.

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