CENTURY SOFTWARE HOLDINGS BERHAD - PROJECT AWARDS

CENTURY SOFTWARE HOLDINGS BERHAD ("the Company" or "Censof") is pleased to announce that the wholly-owned subsidiary of the Company, Century Software (Malaysia) Sdn Bhd ("CSM") has on 17 April 2012  accepted two (2) Letter of Awards from Lembaga Hasil Dalam Negeri ("LHDN") dated 16 April 2012 in relation to the following contracts :-

1. Kontrak LHDNM Bil. 5/2012: Penyenggaraan Sistem Perakaunan Standard Accounting System for Government Agencies (SAGA) Century Financials bagi tahun 2012 sehingga 2014 di Lembaga Hasil Dalam Negeri Malaysia. The contract value for this project is RM3,000,000-00 ("LHDN Project 1")

2. Kontrak LHDNM Bil. 6/2012: Menaik Taraf dan Penggantian Perkakasan bagi Sistem Perakaunan LHDNM (SAGA). The contract value for this project is RM2,600,000-00 ("LHDN Project 2")

Collectively known as "Projects".

The scope of work for the LHDN Project 1 is for the maintenance services for Century - SAGA and related hardware.

The scope of work for the LHDN Project 2 is to upgrade, supply, installation and implementation of SAGA - Century and related hardware and peripherals.

The LHDN Project 1 will commence on 1 January 2012 for a period of  3 years and the LHDN Project 2 will commence from the date of the acceptance of the letter of award for a period of 2 years and 3 months.

The Projects will not have any material effect on the issued and paid-up capital, substantial shareholders' shareholdings, net assets per share and gearing of the Company and its subsidiaries ("Censof Group").

Bearing any unforseen circumstances, the Board is of the opinion that the Projects will contribute positively to the earnings per share and the future earnings of Censof Group.

Censof does not envisage any risk factor arising from the Projects. However, the Company will continously be taking appropriate measures if it encounters any risk.

None of the Directors, its substantial shareholders or person connected with the Directors and substantial shareholders of the Company have any interest in the Projects.

The Board, after considering all aspects of the Projects are of the opinion that the Projects are in the best interest of Censof Group.