Tungsten rolls out new supplier pricing

TUNGSTEN CORPORATION PLC 

("Tungsten" or the "Company")

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For Immediate Release 18 November 2014

Market update

Tungsten rolls out new supplier pricing worldwide

London, 18 November - Tungsten Network, Tungsten Corporation's electronic invoicing platform, is introducing a simplified tariff structure for suppliers using its global e-Invoicing network, which enables suppliers to submit tax compliant e-Invoices in 47 countries.

This new pricing follows a successful pilot in the UK earlier this year and will shortly be available to all new suppliers and subsequently rolled out across existing suppliers on the Tungsten Network. The new tariff structure is intended to remove any perceived barriers to adoption. Once all users are on the new tariff, Tungsten expects that more than 80% of suppliers will no longer need to pay transaction fees to send an e-Invoice over the Tungsten Network.

The tariff includes an increased annual fee for those larger suppliers who have an automated connection to the Tungsten Network, in return for which Tungsten gives them 520 free transactions. All suppliers, whether they use Tungsten's online Web Form tool or its integrated solution, receive an initial number of free transactions, which are replenished annually.

At the same time, the supplier experience on Tungsten Network is being streamlined. For example, offering Click-to-Accept portal terms facilitates the advance to full process automation by eliminating the paper element from the contract management process for all new Tungsten Network suppliers. Tungsten is also working to roll out its Invoice Status Service (ISS) to as many customers as possible, thereby reducing costs for both buyers and suppliers.In the UK pilot of the new pricing structure, one major buyer reported that supplier adoption of Tungsten e-Invoicing increased from 55% to 64% in three months as a result of this new pricing model. Due to this increased adoption from suppliers, the change to supplier tariffs and processes, once fully implemented, is expected to result in increased net revenue and improved working capital for Tungsten, as well as an increase in the volume of transactions over the network.

Enquiries:

Tungsten Corporation plc

Edmund Truell, Chief Executive Officer +44 20 3435 5680

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

Matthew Hickman, Head of Investor Relations +44 20 7280 7869

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]