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CALGARY, August 20, 2004 - Solium Capital Inc. ("Solium" or the "Company") today announced its financial results for the quarter ended June 30, 2004. Solium achieved the following milestones during the second quarter of 2004:
Highlights of Solium's financial and operating results for the quarter ended June 30, 2004 are as follows:
Quarterly Review E-SOAP revenue consisted of corporate license and implementation fees of $268,000 and exercise fees of $68,000 in the second quarter of 2004, compared to $149,000 and $49,000, respectively, in the second quarter of 2003. Share Purchase revenue totaled $455,000 during the quarter, with the launch of the GRS Securities Inc. alliance. Salaries and wages expense for the second quarter of 2004 was $607,000 compared to $351,000 in the comparable quarter of 2003. The increase is mainly attributable to a bonus of $212,000 awarded to certain employees in April 2004 as recognition for the development of the Share Purchase application and the successful implementation of clients from GRS Securities Inc. Activity Update and Outlook To date in 2004, Solium has added four corporate clients with approximately 1,800 participants through direct sales onto E-SOAP. In addition, the Company has in progress, eight direct sales clients being implemented onto E-SOAP and three direct sales clients being implemented onto Share Purchase, all of which are expected to be implemented prior to December 31, 2004. About Solium Capital Inc. Solium Capital Inc. (TSX Venture: SUM) specializes in technology and services for the administration of equity-based incentive and savings programs for public corporations and their employees. Through its web-based applications, Solium is focused on re-defining the product and service standards in this sector. Solium's flagship products are Employee Stock Option Administration Platform (E-SOAP) and Share Purchase. Both are web-based and real-time applications. Certain information set forth in this document and Management's Discussion and Analysis contain forward-looking information. By its nature, forward-looking information is subject to numerous risks and uncertainties. Actual results may differ materially from the forward-looking information contained herein. The risks, uncertainties and other factors, both know and unknown, that could influence actual results may be substantial, which may include, among others, changes in customer markets, changes in demand for the Company's services, inability of the Company to deliver services in a timely and cost-efficient manner, technological change and general economic conditions. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. For more information, please visit www.solium.com. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. ###
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