About Derceto - Company Background

Derceto was created and developed by a team of multi-disciplinary engineers. The product, first designed in 1998 was part of a range of modeling packages sold by the Beca Group, New Zealand's largest independently-owned professional services company. From its first installation in 2000 it quickly became apparent that this product was going to enjoy wider success in the market and Derceto Ltd emerged out of Beca in 2004 to deliver the software as an independent company. From within this environment, Derceto Ltd's staff have used their solid background in a variety of computing and engineering disciplines to develop our world-leading pump optimization software. Still backed by the experience and knowledge of the Beca Group, Derceto has expanded rapidly into markets in Australia, North America and Europe. Endeavour Capital, a leading New Zealand venture capital firm, invested into Derceto Ltd in April 2005 to assist Derceto's rapid international growth. Derceto, Inc. is Derceto Ltd's sister company and was specifically set up to cater to our North American market. Derceto, Inc. is headquartered in San Francisco with regional offices in New Jersey and Folsom, CA. Derceto, Inc. established itself with its first full US implementation in 2004 and has since done projects with numerous water utilities across North America.

More on the Beca Group

Established in 1918, Beca is New Zealand's largest employee-owned professional services company. Employing over 1750 staff in 13 international offices, it has projects in over 63 countries. Beca works in five key sectors: industry, building, infrastructure, environmental and resource management, delivering engineering, planning, project management, applied technologies and valuation services. Headquartered in Auckland, New Zealand, Beca operates from three market hubs: New Zealand, Australia and Singapore. It designs and supervises projects with a total value of over US$1 billion annually. Recent projects include the terminal expansions at the Wellington and Auckland International Airports, Suzhou Brewery in China, Sky Tower and Casino Center in Auckland, Changi Wastewater Plant Singapore and the 338m Macau Tower in China.

Beca is ranked 77th in the top 200 international design firms (Source: Engineering News Record 2005). Beca is AS/NZS ISO 9001:2000 certified, and has won over 50 major engineering and planning awards in the last five years alone.

Derceto was born out of this solid engineering heritage and still has close ties. It take advantage of Beca's engineering and business sector knowledge to develop practical solutions to complex, real-world problems.

See: www.beca.com

More on Endeavour Capital and i-Cap Partners

Endeavour Capital is a leading New Zealand-based venture capital company investing in innovative companies in science and technology. Starting in 1999 its investments include companies in biotechnology, software and medicine. Working with i-Cap Partners Ltd they manage one of New Zealand's Venture Investment Fund (NZVIF), a Government fund designed specifically to invest in NZ-based start-up and expanding companies.

Drawing on the experience of a Management Team that has set up numerous successful companies in both New Zealand and the United States, Endeavour was bought onboard in April 2004 to support Derceto's international growth.

See: www.ecap.co.nz