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Polestar Group Selects Hyperion for Business Management Software

Thursday, October 24, 2002

Press release from the issuing company

London, UK -- Polestar Group, Europe’s leading independent printing Group, with an annual turnover of GBP530m and employing over 6,000 staff across pan European operations, has purchased technology solutions from Hyperion, (Nasdaq:: HYSL) a global leader in business performance management software, to enhance its group financial reporting capability. Polestar serves the publishing, retail, travel and direct marketing arenas through the production of magazines, journals, catalogues, brochures, packaging and direct mail. The Group prints more magazines than any other UK printer, including such popular titles as Now!, TV Times, Woman, Woman``s Own and British institutions such as Country Life and Radio Times, and it can name such leading names as Avon, News International, Tesco, Twinings, National Magazines, and First Direct within its wider customer base. According to Peter Crossley, Director of Finance at Polestar: "As Europe``s leading independent printing Group, we have significant financial reporting demands and our previous system has just not delivered. There is a huge degree of frustration across the Group due to the lack of flexibility and the time spent on producing accurate financial reports. With more than 90 reporting entities, we need a system which will be both reliable and efficient. Hyperion provides the ideal solution. The introduction of Hyperion is expected to increase the speed and accuracy of reporting, while reducing time and resource overheads. In due course, we intend to extend its use to become a general management tool for senior executives." The Polestar Group is Europe``s leading independent printing company, serving the publishing, retail, travel and direct marketing arenas through the production of catalogues, brochures, magazines, newspapers, packaging and direct mail. Polestar employs over 6,000 staff operating from plants and offices all over the UK, Hungary, Spain and France. This multi-site capability enables Polestar to provide outstanding flexibility and speed of turnaround, without compromising quality.




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