THE KANOO GROUP AND CRANES SOFTWARE FORM JOINT VENTURE COMPANY

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 8, 2005 -- Dubai, November 7, 2005: The Kanoo Group, the leading diversified business conglomerate in the Middle East, recently signed a memorandum of understanding with Cranes Software International Ltd. to form a new joint venture company known as Cranes Software Middle East LLC (CSIME). This newly formed Dubai-based company plans to offer businesses in the Middle East its customised solutions and services in the areas of Analytics, Enterprise Project and Portfolio Management, Six Sigma Consulting and Enterprise Applications.

Speaking on the joint venture, Mr. Mishal Kanoo, Deputy Chairman of The Kanoo Group said, �The joint venture with Cranes Software is another significant milestone for The Kanoo Group. Cranes Software owns some of the best Scientific and Engineering software products and is considered the industry leader in its products domain. Cranes Software�s products have a worldwide reach and there is a huge potential for these products in the Middle East market. This joint venture relationship will help us promote Cranes Software�s state-of-the-art products through our strong network in the Middle East.�

The joint venture will enable greater focused access to the Middle East of Cranes Software�s major products, namely Statistical, Data Visualization and Engineering tools such as SYSTAT, the Sigma Product Line and the NISA family of FEA products.
The verticals that CSIME will target include Banking, Financial Services and Insurance, Retail, Petrochemical Manufacturing, Pharmaceutical and Life Sciences, Education, and Travel to name a few.

�The Middle East is one of the fastest growing regions in the world and a very significant market for Cranes Software. With our global experience and our joint venture with The Kanoo Group, one of the largest business conglomerates in the Middle East, we hope to be a key IT player in the Middle East in the near future. We will look at leveraging from The Kanoo Group�s brand equity, wide reach and vast network of partners and clients,� Mr. Mueed Khader, Director, Cranes Software International Ltd. explained.

The launch of the Middle East venture signifies Cranes Software�s commitment to customers and partners in ensuring the highest level of support and benefits of its latest research and technology. Its award winning products and solutions are offered worldwide, and are widely accepted by multinational companies, R&D establishments and educational institutions in US, Europe, Japan, Australia and other regions.