Alchemy Software Development continues robust financial performance
Alchemy Software Development reports revenue growth of 47% for year ending 31st December 2003

Dublin, Ireland - — January 9th, 2004 — Alchemy Software Development Limited, the leading visual translation tools provider, today announced revenue growth for the year ending 31st December 2003 of 47%. While the localization industry has recently witnessed difficult trading conditions , this is their third consecutive year 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, “2003 was our most successful and exciting year. With the release of Alchemy CATALYST 5.0 we've affirmed yet again our technological leadership in visual localization solutions. We've enhanced our technology to assist our clients in automating a high proportion of their localization workflows, reducing their localization costs and significantly improving their lead-times to foreign markets.”

“Our visual localization technology is adding great value to large corporations looking towards the international markets for new revenue growth opportunities”, said Enda McDonnell, Chief Architect and Director of Technology at Alchemy Software Development, “and with the recent bundling of Alchemy CATALYST 5.0 and Microsoft Visual Studio .NET we're rapidly expanding our presence in the development community offering the only complete visual localization solution for Microsoft desktop, mobile and internet applications.”

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 in visual development tools for the localization industry. 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/