Futuremedia Wins Contract With Royal Mail for New Learning For
Expected Additional Revenue to Futuremedia of Approximately $3.2
Million (GBP 2 Million) to $4.8 Million (GBP 3 Million) Over 3 Years
BRIGHTON, ENGLAND -- (MARKET WIRE) -- 11/06/03 -- E-Learning
solutions provider Futuremedia Plc (NASDAQ: FMDAY) today announced
that it has won a three-year exclusive contract for the promotion and
delivery of its Learning For All(TM) programme to over 200,000 Royal
Mail employees. The programme will immediately be made available to
eligible employees. The financial impact of this contract to
Futuremedia will depend on, among other factors, the level of Royal
Mail employee participation; however, based on Futuremedia's current
assumptions, it expects that the contract will generate approximately
GBP 2 - 3 million ($3.2 - 4.8 million) of additional revenue over 3
Learning For All(TM) is designed to complement the existing corporate
e-Learning programme by providing access for employees who do not
have Internet access at work, or who work in an environment not
conducive to learning. The package provides the employee with a PC,
Internet access, generic e-Learning programmes for the family and
personal use, as well as access to business specific e-Learning
programmes. In order to appeal also to employees who are not
familiar with the use of PCs and the Internet, the PC will be
installed at the participants' homes, connected to the Internet, and
the participant will be given a demonstration.
The cost to employees is discounted through U.K. Government supported
tax incentives and the buying power of Royal Mail. As a result,
employees can participate in the programme for as little as GBP 4.75
($7.60) per week depending on use.
Tony McCarthy, Group Director, People & Organisational Development of
Royal Mail, stated: "Ensuring we have skilled and motivated people is
critical to the success of our organisation and a big challenge. Our
people often work difficult hours in environments that do not always
lend themselves to learning. Providing the chance for a PC at home
and supporting its use for learning is exactly the sort of practical
common sense initiative that makes a real difference to our people.
The programme provides our employees, particularly those with
school-age children, with low cost access to a whole range of
Mr. McCarthy continued: "We have been working very closely with
Futuremedia during the past year to put this in place. Futuremedia
will manage the full programme for us. This new contract builds on
their successful implementation and operation of our corporate
e-Learning programme, as well as their focus on partnering to bring
real value to large corporate customers like us."
Mats Johansson, Chief Executive of Futuremedia, stated: "We are very
pleased to expand our service provision to The Royal Mail beyond the
limits of PC access at work. This will allow us to more fully provide
the value of e-Learning to Royal Mail, and we are confident that the
Learning For All(TM) model now pioneered by Royal Mail will become a
core component of many organisations' learning strategies. We have
also lined up an exciting group of partners/suppliers for this
scheme, details of which will be announced in due course."
Mr. Johansson continued: "We are also pleased that the significant
investments we have made in expanding our relationship with Royal
Mail and in building our Learning For All(TM) business during the
past six months have resulted in us winning this contract. Although
the exact financial outcome is dependant on Royal Mail employee
participation we anticipate a rapid and material impact, which we
will report on when such information is available to us. As a
high-profile programme, we also expect that this contract will
further the growth prospects of our Learning For All(TM) business at
a time when the market for such programmes is rapidly expanding."
Futuremedia plc (est. 1983) is a Solutions Provider in the growing
e-Learning market with 20 years' experience in the interactive media
field supplying products and services to industrial and commercial
business sectors and government, mainly in the U.K. and Continental
The Company has a proven track record in providing knowledge and
training via its proprietary Learning Management System, which in its
largest application has a capacity for 240,000 users.
Futuremedia's customers include Royal Mail, Syngenta, BUPA, BT,
Daimler Chrysler, GSK, Channel Four, IDEA and Hilton International.
Training content from partners SmartForce, Centra Software, SkillSoft
and NETg is supplied and supported.
Learning For All(TM) is a registered trademark of Futuremedia.
Futuremedia can be found on the Web at http://www.futuremedia.co.uk.
About Royal Mail
Royal Mail Group plc is a public limited company wholly owned by the
U.K. Government, which is its sole shareholder. In the U.K., the
company operates under three trusted brands -- Royal Mail, Parcelforce
Worldwide and Post Office Ltd. Royal Mail Group has annual sales of
over GBP 8 billion and a workforce of over 200,000. Royal Mail
delivers over 82 million items a day to 27 million addresses around
the U.K. Parcelforce Worldwide provides customers with access to the
world's largest delivery network, covering 239 countries and
territories. Through Post Office Ltd., the company has the largest
retail network in the U.K. with around 17,000 Post Office branches.
These are visited by 28 million people each week.
"Safe Harbor" Statement under Section 21E of the Securities Exchange
Act of 1934:
This press release contains forward-looking statements related to
future results and speaks only of the Company's expectations as of the
date hereof. Such statements include discussions concerning Company's
future financial performance and the future performance of the
Company's products. Such statements involve known and unknown risks
and uncertainties that may cause actual results to differ materially
from expectations. The risks and uncertainties include the early
stage of the Internet and intranet learning and communications
market, the management of growth, the ability of the Company to
develop and successfully market new products, to integrate
acquisitions, rapid technological change and competition, and other
factors detailed in the Company's filings with the US Securities and
Exchange Commission. The Company expressly disclaims any obligation
to release publicly any updates or revisions to any such statement to
reflect any change in expectations or in information on which any
such statement is based. All product names and trademarks mentioned
herein are trademarks of Futuremedia or their respective owners.
The PR Department for Futuremedia
M: +44 7710 043244;
T: +44 1273-829700
Provider ID: 01059630
Press spacebar to pause and continue. Press esc to stop.