Serenic Corporation
TSX VENTURE : SER

Serenic Corporation

December 17, 2008 23:59 ET

Carnegie Institution for Science Selects Serenic Navigator

EDMONTON, ALBERTA--(Marketwire - Dec. 17, 2008) - Serenic Corporation (TSX VENTURE:SER), ("Serenic" or the "Corporation"), a leading publisher of financial management and business operations software for nonprofits, international non-governmental organizations (NGOs) and the public sector, and AVF Consulting, a Microsoft Gold Certified partner and provider of financial management software and services to nonprofits, announced today that the Carnegie Institution for Science is implementing Serenic Navigator, certified for Microsoft Dynamics NAV.

The Carnegie Institution in Washington, D.C., was established in 1901 by Andrew Carnegie with a mission dedicated to scientific discovery. The organization devotes its resources to "exceptional" individuals, so they can explore the most intriguing scientific questions related to research in the Earth, space and life sciences. Today, Carnegie scientists, working in six scientific departments on the East and West Coasts, continue to be at the forefront of scientific discovery and are leaders in the fields of plant biology, developmental biology, earth and planetary sciences, astronomy and global ecology.

The Carnegie Institution sought to replace its former accounting system with a more robust system that could handle its growing accounting complexity and reporting needs. According to Gary Kowalczyk, the Carnegie Institution's director of administration and finance, the organization's audits revealed that too much data and reporting were being managed outside of the formal accounting system.

"Navigator gives us greater flexibility to manage our accounting and administrative processes, including those that take place in our decentralized departmental offices," Kowalczyk said. "We are looking forward to Navigator's ability to integrate accounting with other functional areas, such as grants, HR, procurement and development, thereby giving the Institution a more comprehensive and efficient business operation."

Approximately 30 of the Carnegie Institution's users will access Serenic Navigator Advanced Management Edition - certified for Microsoft Dynamics NAV - as well as other applications within the Navigator extended product suite, including web portals, AwardVision grant management software, DonorVision and Human Capital Management.

"Serenic worked closely with our partner AVF Consulting to meet the Carnegie Institution's specific needs," said Serenic CEO and President Randy Keith. "A fully integrated fund and grant accounting solution like Navigator can help organizations like the Carnegie Institution have more efficient accounting processes, including automatic reporting of grant budget status."

About AVF Consulting

AVF Consulting, Inc. is a full-service Microsoft Gold Certified Partner providing Serenic Navigator for Microsoft Dynamics NAV to nonprofits throughout the U.S. AVF provides companies with a system for success through customer-specific systems design, analysis, development, implementation, training and support. AVF has been offering business solutions since 1986 and was named Serenic's Partner of the Year in 2007. AVF's clients include Gifts In Kind International, Habitat for Humanity, International Planned Parenthood and many others. For more information, visit www.avfconsulting.com.

About Serenic Corporation

Serenic Corporation is an industry-leading publisher of mission-critical software products that satisfy the unique and sophisticated functionality requirements of nonprofit organizations, educational institutions, and government agencies. Built on Microsoft Dynamics NAV, Serenic's products deliver fully integrated solutions that can, in many organizations, eliminate the need for multiple third-party business applications.

A Microsoft Gold-certified Industry Solutions Vendor, the Corporation's products include the highly acclaimed Serenic Navigator, Serenic DonorVision, Serenic CommunityCare and Serenic MinistryView. In addition, the Corporation is the exclusive developer of the human resources and payroll products for Microsoft Dynamics NAV users in North America.

In 2007, Serenic was named the Microsoft Dynamics Outstanding ISV of the Year and earned membership in the Microsoft Dynamics Inner Circle and the Microsoft Dynamics President's Club, both prestigious achievements that acknowledge Serenic as a top performer within the Microsoft partner community.

Serenic Corporation is a public company with offices in Edmonton, Alberta, and Lakewood, Colo. It trades under the symbol "SER" on the TSX Venture Exchange in Canada. Additional information about the Company is available at www.serenic.com.

Serenic Stock Options

Serenic advises that on October 28, 2008, it reduced the exercise price of 100,000 non-insider employee incentive stock options granted October 25, 2007 to $0.27 per share from $0.70 per share. The expiration date of the options is October 25, 2012, which did not change. The TSX Venture Exchange has accepted the re-pricing for filing.

Company and product names mentioned herein may be trademarks and/or registered trademarks of their respective owners.

ON BEHALF OF THE BOARD OF DIRECTORS

By Randy Keith

President and CEO, Serenic Corporation

(303) 980-6007

Contact Information

  • EDITORIAL CONTACTS: Linda Nicholson
    Vice President of Marketing
    Serenic Corporation
    lnicholson@serenic.com
    (877) 737-3642, Ext. 105

    Karen Tran
    AVF Consulting
    ktran@avfconsulting
    (443) 279-1026