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NEWS RELEASE

AZEUS’ NET PROFIT SURGES 226% TO HK$5.3 MILLION IN 1HFY2010

- Revenue increases 16% to HK$41.1 million

- Net profit margin up 8.3 percentage points to 12.9%

- Maintains strong cash position of HK$58.8 million

Singapore, November 11, 2009 -

“Group), a provider of IT consultancy services based in Hong Kong, today reported a

226% jump in net profit to HK$5.3 million on the back of a 16% increase in revenue

for the half year ended September 30, 2009 (“1HFY2010”).

Said Mr Lee Wan Lik, Founder and Managing Director of Azeus: “While the external

environment remains uncertain, we are heartened to be chosen as one of the

suppliers to receive approval to enter into three Standing Offer Agreements for the

Quality Professional Services with the Hong Kong Government for the supply of IT

professional services. We are also pleased to have secured a HK$3.5 million

contract during the first half. These, we believe, are testament to our strong expertise

and ability to provide quality services.

“As we continue to ride out the recession, we are confident that our strong track

record and prudent business strategy will support us well. Barring any unforeseen

circumstances, we remain cautiously optimistic for the rest of FY2010.”Azeus Systems Holdings Ltd. (“Azeus” or the

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Financial Review

As a result of an across-the-board improvement in revenue from the Group’s three

core business segments – IT Services, Maintenance and Support Services, and

Business Process Outsourcing (“BPO”) – Group revenue increased 16% to HK$41.1

million in 1HFY2010 from HK$35.5 million in the previous corresponding period

(“1HFY2009”).

Revenue from the Group’s major revenue contributor, IT services was up 28% in

1HFY2010 to HK$24.3 million from HK$19.0 million in 1HFY2009. The better

performance was due to a higher percentage of completion of two major contracts

secured in previous years. IT services accounted for 59% of total revenue during the

period under review.

The Group’s Maintenance and Support services segment climbed by 2% to HK$11.8

million in 1HFY2010 compared to HK$11.6 million in 1HFY2009 as a result of an

increase in the value of contracts upon yearly renewal. This segment represented

29% of Group revenue.

The Group’s BPO segment also registered growth during the half year under review,

with a 4% increase in revenue to HK$5.0 million from HK$4.8 million in 1HFY2009

due to the number of headcount that was outsourced during the year. The BPO

segment contributed to the remaining 12% of total revenue for the period.

Cost of sales for the half year was higher by HK$3.8 million or 19% to HK$24.0

million from HK$20.2 million in 1HFY2009.

Excluding third party hardware and software sales, which commanded lower profit

margin as compared to other IT services, and repair and maintenance cost, which

was reclassified as cost of sales from administrative expense, gross profit margin

increased by three percentage points to 46% in 1HFY2010.

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Net margin was up 8.3 percentage points to 12.9% in 1HFY2010 from 4.6% in

1HFY2009 with the increase in bottomline.

Administrative and other operating expenses declined 21% or HK$2.0 million during

the period under review mainly due to the reclassification of repair and maintenance

cost of HK$1.7 million to cost of sales and lower legal and professional fee.

The Group maintained a strong cash position of HK$58.8 million as at September 30,

2009.

Outlook

Added Mr Lee: “As a prudent response to the financial turmoil and resulting

recession, we have cautiously reviewed our business strategy, focus and operations

and have undertaken measures to control the Group’s cost structure while also

maintaining the efficiency of our business operations.”

In light of the downturn, the Group is optimistic that its continued investment in the

training and development of the skills of its employees across various technologies

and domains will equip it with a competitive edge when the economy recovers.

In addition, with its proven technology, the Group will be looking for strategic

partnerships with companies searching for proven solutions to be incorporated into

new products and services, and will also be exploring opportunities to generate new

revenue streams with its library of intellectual assets developed over the years.

As the Group continues to monitor its performance closely, it remains focused on

sustaining its market share in the Hong Kong public sector and expects contracts

from the Hong Kong Government to continue to be the Group’s main growth driver.

“We are confident that our greater operational efficiency, reinforced staff strength,

established track record as well as CMMI-SW Level 5 accreditation will put us in

good stead going forward,” Mr Lee concluded.

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About Azeus Systems Holdings Ltd.

Established in 1991, Azeus is a leading provider of IT consultancy services.

Headquartered in Hong Kong, Azeus has established offshore software development

centres in the Philippines and China. The Group acquired BIGontheNet, an awardwinning

provider of eBusiness software solutions based in Singapore, in February

2005.

Besides designing as well as implementing a wide range of IT software and systems

to fulfil the outsourcing needs of customers, Azeus also provides maintenance and

support services. The Group has won the first and thus far, only business processes

outsourcing project from the Hong Kong Government, covering IT consulting, IT

maintenance and support, as well as office operations and support services.

Azeus is appraised at the highest level of the CMMI-SW model, endorsing its

commitment to delivering high quality work. Its emphasis on consistently high quality

solutions has enabled the Group to build a solid track record of over 100 projects for

many government departments and over 15 projects for the commercial sector in

Hong Kong.

Azeus was listed on the Mainboard of SGX-ST in October 2004.

ISSUED ON BEHALF OF : Azeus Systems Holdings Ltd

BY : Citigate Dewe Rogerson, i.MAGE Pte Ltd

1 Raffles Place

#26-02 OUB Centre

SINGAPORE 048616

CONTACT : Ms Dolores Phua / Ms Carol Wee

at telephone

DURING OFFICE HOURS : 6534-5122 (Office)

AFTER OFFICE HOURS : 9750-8237 / 9730-5754 (Handphone)

EMAIL :

carol.wee@citigatedrimage.comdolores.phua@citigatedrimage.com

143/09/004/ASHL

November 11, 2009