MYOB Announces Trading Update; Sale of Network and Integration Services to Tikit

London, 20th December, 2004 - MYOB Limited (ASX:MYO) today announced that it has completed the sale of Network and Integration Services (NIS) to Tikit Group plc for approximately A$2.5 million in cash. Tikit is a provider of IT consultancy services to accounting practices and legal firms in the UK.

As part of a detailed review following the merger with Solution 6, MYOB concluded that the network and infrastructure solutions offered by NIS were not a strategic fit with the company's core business. The sale of NIS marks the completion of MYOB's strategic review of the Solution 6 businesses, and leaves a focused and consistent group dedicated to the needs of business owners and accountants.

A strategic relationship between MYOB and Tikit will be retained, with Tikit becoming an MYOB preferred supplier.

"MYOB is an extremely focused organisation, dedicated to helping accountants and business owners achieve greater success," commented Simon Crompton, General Manager of MYOB UK (Accountants Division). "Our strategic partnership with Tikit means that we can continue to offer the best available support for our customers' networking and hardware needs, while concentrating on the software and services that have made the MYOB brand synonymous with business success."

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About the MYOB Group

MYOB is a global provider of solutions that liberate business owners and accountants from the burden of day to day administration, empowering them to achieve business success.

MYOB develops and delivers award-winning software, services and support for more than 500,000 businesses and over 10,000 accounting practices worldwide.

Owner-operated businesses are the most dynamic force in the world economy and yet they are universally challenged by limited resources. MYOB uses its knowledge, expertise and scale to help them build better businesses.

MYOB also works directly with accounting practices to streamline their processes and maximise their productivity. MYOB solutions are used by leading accounting practices from tax agents and sole practitioners to the 'Big 4' firms.

Through its understanding and partnership with both business owners and accountants, MYOB strives to further enhance the links between them for their mutual benefit. MYOB Limited is a public company listed on the Australian Stock Exchange (ASX symbol 'MYO').

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For further information

Contact Tom Cheesewright, Noiseworks - 01628 628080 - tomc@noiseworks.com

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