Day Software Announces Sale of UK Subsidiary MarketingNet Ltd

Day Software (SWX:DAYN)(OTCQX:DYIHY) announced the completion of the sale of MarketingNet Ltd, a UK company active in the agency services business, to WAA Ltd, also a UK company. This sale marks the completion of Day's efforts to refocus its UK operations on its core business and drive UK expansion through a channel-driven model. Day Software acquired MarketingNet Ltd in October 2000. All existing customers of MarketingNet Ltd will stay with MarketingNet Ltd, which will be owned by WAA Ltd. As a result of the sale completion, Day are anticipating non-cash charges in its 31st December 2008 results relating to Goodwill as well as cash charges relating to discontinuing operations such as leases, staff costs, and legal costs. Day Software's core operations in the UK carried out by Day Software Ltd are not affected by this announcement. http://www.day.com