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XO Limited Sells Thailand/Vietnam Ozone Franchise License

Solution Corner (SLC),a publicly traded Thailand company, has acquired an exclusive Ozone franchise license for Thailand and Vietnam from XO Limited. SLC has set up subsidiary OpenServe to operate the new barter exchange operation under the Ozone name.

XO Limited reported that the initial license fee was $1 million, and further payments -- if the deal goes as planned -- will total approximately $5 million over a 5-year period, based on forecasts of member trading volumes. (Shares of Solution Corner are trading for approximately 9-cents each.)

According to Sam Rama, CEO of Ozone Barter, the transaction represents a major opportunity for participants in the New Zealand-based Ozone Barter network to sell and acquire products from the Asian market.

Solution Corner, a Thailand software developer, has diversified into e-commerce in an attempt to reduce the risk of relying only on the software development business.

Chachapong Munchupha, the managing director of SLC and Open Serve, is aiming to have at least 1,200 members based in Thailand, trading 30 million baht (37:1 to the US$) by the end of this year.

XO Limited (www.barter-software.com) was founded in 2002 and offers a neutral internet-based platform which enables multi-lateral trading.

Ozone Barter has franchisees in Australia, New Zealand, Singapore and South Africa with a reported network of 10,000 members.