Company name change to
“Cashbook Limited”

SAI New Technologies was formed when the employees of SAI bought out the Cashbook business from Clarus Corporation (NASDAQ clrs) in December 2002. The company was founded by six company Directors who were, and still are, all employees of the business. After much consideration the company has renamed themselves Cashbook.

Chief Executive, Greg Coulter explains the change. “For us when we took over SAI in 2002 we vowed to build upon the successes that SAI had achieved in the marketplace. We took the name SAI New Technologies as a statement of intent to build on the success of the past and add new technologies to our traditional cash management solutions. The company name change will help build our brand recognition as we move into new markets and interface with new ERP systems where the company name SAI is not so well known. To our existing customers we have always been known as the Cashbook people so we don’t see issues there.”

Marian Shanahan, Finance Director, commented “People will recognize our Company far more easily with the name change. As I am told regularly by Enterprise Ireland we are Ireland’s best-kept-secret in the software world. It’s about time we started acknowledging the success we have been achieving and the enormous potential we see for our business in the immediate future.”

Cashbook Limited is a registered company in Ireland.