SOURCE: Propalms, Inc.

April 05, 2010 09:17 ET

Propalms, Inc. Receives Initial Purchase Order From Leading Indian Insurance Company to Supply TSE Software

MALTON, ENGLAND--(Marketwire - April 5, 2010) - Propalms, Inc. (PINKSHEETS: PRPM) is pleased to announce that the Company has received an initial purchase order for its Propalms TSE Software from SBI Life Insurance Company Ltd., one of the leading insurance companies in India. This is the beginning of a roll out of Propalms TSE software to the thousands of users within SBI Life Insurance Company. SBI Life Insurance Company Limited is a joint venture between the State Bank of India and BNP Paribas Assurance, the fourth largest insurance company in France. 

SBI Life has a unique multi-distribution model encompassing vibrant Bancassurance, Retail Agency, Institutional Alliances and Corporate Solutions distribution channels. SBI Life extensively leverages the SBI Group as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. SBI's access to over 100 million accounts across the country provides a vibrant base for insurance penetration across every region and economic strata in the country ensuring true financial inclusion.

"We are thrilled to add yet another prestigious and respected India company to our growing list of users in this region. Every week we are closing new deals in the region and working hard to increase our brand and product awareness, which we hope in turn will show in our growth figures during the months to come," stated Owen Dukes, CEO Propalms Inc.

Propalms recently announced that the Company will be holding a Nationwide teleconference on Wednesday, April 7 at 4:15 PM EDT. During the Nationwide Teleconference, Mr. Owen Dukes, CEO of Propalms, and Robert Zysblat, President of Propalms, will not only discuss the pending sale of Focus Systems, but they will also update the financial community on the Company's financial results from its fiscal year ending January 31, 2010. There is expected to be a high demand for the call-in lines for this Nationwide Teleconference and space will be limited. Please call (407)389-5900 today to reserve your place and receive the information that will enable you to participate in the conference. If you have a particular question for Mr. Dukes or Mr. Zysblat, please email your question to ir@propalms.com.

For more information on SBI Life Insurance Company please visit www.sbilife.co.in

About Propalms, Inc.:

Propalms, Inc. (www.propalms.com) is a global provider of application delivery and secure remote access solutions for Terminal Services and Virtual Desktop Infrastructures. Delivering to enterprises of all sizes, Propalms offers reliable, scalable and affordable solutions that simply work. Our belief is that application delivery solutions should be flexible, dynamic and, above all, simple to use.

Safe Harbor:
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements'' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

Contact Information