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Government of Antigua & Barbuda Unveils New Public Sector Financial Management System with Printing of First Ever Electronic Cheque

Minister of Finance launches FreeBalance software as part of government-wide deployment

OTTAWA, Canada (August 23, 2006) - FreeBalance, global leaders in Government Accountability Solutions, today announced that the Government of Antigua & Barbuda has successfully reached a key milestone in achieving improved financial accountability and transparency. The deployment of the FreeBalance integrated financial management system extends the benefits of public expenditure management across all Ministries and Departments in the Government of Antigua & Barbuba. The Honourable Dr. Errol Cort, Antigua’s Minister of Finance & Economy, marked the occasion with the official launch of the FreeBalance system and the printing of the government’s first electronic cheque at the Treasury.

"The government is fully committed to fiscal prudence and effective financial management through the acquisition of FreeBalance financial software. This represents a key investment in the development of a modern and transparent financial management system and ultimately an important investment in the restoration of the fiscal balance," said Dr. Cort. "Under this system, I am extremely confident that all of Antigua & Barbuda will be pleased with the level of accountability that this government is bringing to governance in Antigua & Barbuda."

The initial deployment of FreeBalance Government Accountability Software in Antigua & Barbuda included implementations at the Ministry of Finance & Economy Headquarters and the Treasury Department. The government will leverage the FreeBalance system for budgeting and to administer and report on all public sector expenditures, revenues, and human capital.

"The FreeBalance project in Antigua & Barbuda is one that we are all extremely proud of. We look forward to celebrating many more milestones with this Government as the project continues to evolve," said Manuel Schiappa Pietra, President & CEO of FreeBalance. "We are committed to working with the Government of Antigua & Barbuda to help fulfill a shared vision for public expenditure management, accountability, and transparency."

About FreeBalance

FreeBalance provides software solutions for public financial management to governments worldwide. Software solutions from FreeBalance help governments improve fiscal transparency,accountability, and good governance as the foundation for economic growth and development.

The FreeBalance Government Accountability Suite supports all aspects of the budget cycle and provides fiscal control over fund allocations, expenditures,appropriations, revenue administration, and human capital management. FreeBalance software is the most-widely deployed financial managementapplication inside the Government of Canada. FreeBalance software is used by more than 30,000 public finance managers to manage billions of dollars of government expenditures and more than 700,000 public servants worldwide. Customers include the U.S. Department of Transportation, the Governments of Canada, Nunavut, Guyana, Mongolia, Sierra Leone, and Kosovo.

Founded in 1984, FreeBalance is headquartered in Ottawa, Canada with a sales office in Washington, DC, USA. FreeBalance partners with local systems integrators to provide rapid localization and implementation services.