Companies select Tungsten for invoice automation

TUNGSTEN CORPORATION PLC 

("Tungsten" or the "Company")

For Immediate Release 14 November 2014

Market update

More North American organizations select Tungsten Corporation to facilitate invoice automation

Atlanta, GA, 14 November - Tungsten Corporation plc (LSE:TUNG), the global electronic trading network, has been newly selected by three North American companies to deliver invoice automation workflow and advanced data capture technology.

The new customers are LegalShield, an Oklahoma-based provider of pre-paid legal services, Local Government Information Systems (LOGIS), an association of local government municipalities in Minnesota, and Agnico Eagle Mines, a major mining company headquartered in Toronto with primary operations in Quebec.

Following its recent acquisition of DocuSphere, Tungsten's suite of products has expanded to include intelligent capture Optical Character Recognition (OCR) technology to more efficiently extract invoice data, and an invoice automation workflow solution. This enhanced offering will better enable customers to reduce manual processing efforts, invoice processing cycle times and associated costs while improving visibility and control of their accounts payable.

"We are pleased that three new buyer organizations have selected DocuSphere's workflow and OCR tools as an entrée to the Tungsten Network. Since Tungsten acquired DocuSphere in September, we have made great progress in extending our portfolio deeper into the Procure-to-Pay process," said Richard Hurwitz, Tungsten's Chief Executive in the Americas.

"In addition, the DocuSphere team and tools have been well received by several major Tungsten customers in order to improve their Network integration. The combination of Tungsten and DocuSphere is proving compelling to users."

Enquiries:

Tungsten Corporation plc

Edmund Truell, Chief Executive Officer +44 20 3435 5680

Juliana Wheeler, Head of Global Communications +44 20 7280 7973

Charles Stanley Securities

(Nominated Adviser and Joint Broker)

Marc Milmo/Dugald Carlean +44 20 7149 6000

Canaccord Genuity Limited

(Joint Broker)

Simon Bridges/Peter Stewart/Cameron Duncan +44 20 7523 8000

Equus Group (Communications)

Piers Hooper / Sam Barton +44 20 7223 1100

About Tungsten Corporation plcTungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.

Buyer organisations that join Tungsten Network, the world's largest compliant electronic invoice network, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers supply chain financing through Tungsten Bank; and helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data.

Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It enables suppliers to submit tax compliant e-Invoices in 47 countries, and last year processed transactions worth over $187bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal Government.

Tungsten Corporation joined forces with OB10 in 2013 to create the world's largest electronic trading network; and acquired DocuSphere in September 2014, a provider of accounts payable automation solutions

Contact: Juliana Wheeler, Head of Global Communications, +44 20 7280 7973.

[email protected]