Annual Service Billings
March 13, 2003 (QHR – TSX) Mr. Al Hildebrandt, President and CEO of the Company, announces that the Company has completed its annual service billings to its customers in an amount in excess of Cdn$750,000. These billings cover annual support and maintenance contracts, additional modules such as staff scheduling, increases in the of number of employees licensed for use under Quadrant HR and other consulting services not previously announced.
QHR Software Group Inc., a wholly owned subsidiary and QHR’s eastern Canadian subsidiary QHR Atlantic Software Group Inc. will be responsible for delivering these services. These billings are due by April 1/03 and will start flowing to the Company in March/03. These funds will provide additional cash flows for the ongoing operation of the Company and will internally finance business development and assist in expansion plans. It is anticipated that approximately 80% of these billings will flow through deferred revenue on the Balance Sheet of the Company to be recognised as revenue in fiscal 2003 in accordance with Generally Accepted Accounting Principles.
To update, QHR Atlantic Software Group Inc. has begun operations and has received its first contract for Quadrant HR. The new client will be replacing their Whidden payroll system with the payroll, staff scheduling and HR software modules of Quadrant HR.Implementation is underway with the assistance of Whidden personnel who have been contracted to work exclusively for QHR Atlantic Software Group Inc.
On March 17, 2003 the Company will move into its new and expanded premises within Kelowna’s Technology Centre building. The new address is Suite 210 – 1632 Dickson Avenue, Kelowna, British Columbia, Canada, V1Y 7T2. All telephone numbers and email addresses remain the same as before. The Company and its subsidiaries now employ 36 full time employees an increase of 25% from December 2002. QHR operations service more than 40 organizations representing over 85,000 employees whom are licensed for various Quadrant HR modules.
For a more complete business and financial profile of the Company, management encourages interested parties to visit the Company’s website, www.QHRsoftware.com.
On behalf of the Board of Directors
Al Hildebrandt President & Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.




