ReadSoft focuses its operations in order to adjust to

The ongoing global financial crisis makes future market predictions
very difficult. Therefore ReadSoft has decided to take action and
focus its development resources on three product areas; SAP, Oracle
and Capture. At the same time, a savings program in order to cut down
costs by SEK 40-45 million is put into action. These measures include
a staff reduction of 50-60 employees. The total non-recurring costs
for these actions are estimated at SEK 20 million. Approximately half
will be charged to the third quarter earnings, and the rest to the
fourth quarter earnings 2008.

During the last couple of years ReadSoft has shown strong growth. At
the end of 2006, the company acquired two product areas and also set
up ambitious long term targets for growth and profit. During the
first six months of 2008 the targets for growth have been achieved.
However, the current volatile market conditions have affected
customers' willingness to invest and ReadSoft has decided to take
actions to adapt to a weaker market. Therefore, the decision has been
made to postpone the development of products for the SMB (small and
medium business) and focus on three product areas: SAP, Oracle and
Capture.

At the same time, a savings program is put in to action. The focus on
three product areas and the savings program will affect 50-60
employees in total, about half of these are based in Sweden. The
costs for these actions are estimated to approximately 20 MSEK where
approximately 10 MSEK is write-downs for activated software
development costs. Half of these non-recurring costs will burden the
third quarter earnings while the rest will burden the fourth quarter
of 2008.

Jan Andersson, President and CEO at ReadSoft comments:"The current market is very volatile and our sales this year are
predicted to be lower than expected. Because of the financial
turbulence all over the world, the future market is very difficult to
predict. In this scenario, it is important that we take action. We
need to ensure that our finances stay healthy by cutting costs and
focusing our business to the areas that shows most progress and
profitability. The actions we are initiating will reduce our costs by
40-45 MSEK on an annual basis and also position us strategically so
that we will be able to develop well even in a weaker market."

ReadSoft will report its third quarter earnings on October 22, as
earlier announced.

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Conference call today October 14, at 9 p.m. CET
ReadSoft invites media and financial analysts to a conference call
today at 9 p.m.
Participants from ReadSoft: Jan Andersson, CEO, Jan Bertilsson CFO,
and Jonna Opitz, Corporate Communications
To take part in the conference please call: +46 (0)8 5052 0114
State ReadSoft to the operator
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For additional information, contact;
ReadSoft
AB
Jan Andersson, CEO, ReadSoft

Phone: +46 708 - 37 66 00
Jonna Opitz, Vice President, Corporate
Communications
Phone: +46 733 - 37 86 68
jonna.opitz@readsoft.com

About ReadSoft
ReadSoft is a leading global provider of software solutions for
Document Automation. ReadSoft's software enables companies to
automate document processes such as data entry, classification, ERP
matching, workflows, e-invoicing etc. The results are faster and less
expensive document processing, and increased control. ReadSoft is by
far the world's number one choice for invoice automation solutions.
Specialized solution labs for SAP, Oracle, Microsoft and Capture
processes ensure cutting edge solutions with great customer value.
Since the start in 1991, ReadSoft has grown to a worldwide group with
operations in 16 countries on five continents and a network of local
and global partners. The head office is located in Helsingborg,
Sweden and the ReadSoft share is traded on the Nasdaq OMX Nordic
Exchange Small Cap list. For more information about ReadSoft, please
visit www.readsoft.com.

ReadSoft focuses its operations in order to adjust to weaker market conditions

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