2006 ASX Announcements

Date: 23 November 2006

Shareholders Annual General Meeting

As part of the company’s Annual General Meeting today, Objective Corporation (ASX:OCL) provides a business update commentary.

The global demand for Enterprise Content Management (ECM) continues to grow and Objective continues to enhance its reputation through successful customer projects worldwide.

Since our full year results we have been progressively re-structuring our company along two dimensions. We have implemented a Global operations strategy but with local customer focus. This will provide our customers with the benefits of our global learning but supported and delivered by a known local community.

Consistent with this, we have today announced the appointment of Mr. Adrian Cobb as our Chief Operating Officer – Europe. As reported previously, our European operations have been negatively affected by a number of factors during the past year. In Europe we expect that the remainder of FY07 will be a refocusing and building year.

Asia Pacific continues to execute well, with new successful customer projects, as evidenced by our previous announcements. Whilst revenue performance year-to-date is on par with last year, we expect to see a bigger skew to the second half than in the last two years. Consistent with our philosophy of investing in new geographies, we expect to announce our first customers in South Asia in the near term.

This year the company has committed to an unprecedented investment in innovation with R&D expenditure budgeted to increase by approximately 50% during FY07. We believe that this investment is timely, however the benefits are likely to be realised over the medium term and will negatively impact our short term results.

The last few months has also seen a high level of international merger and acquisition activity with significant ECM company acquisitions undertaken by global ICT leaders. We expect that these market place monoliths will stimulate awareness within the market place generally, but will lack the focus and specialisation to deliver consistent customer results. All of these acquisitions include substantial rationalisation of competing technologies and field operations which presents opportunities for Objective.

Objective has been quietly and diligently evaluating its own acquisition targets over the past year, however, we have not concluded any transactions to date. These activities have been focussed around broadening our geographic footprint and vertical market specialisation.

We are passionately committed to the company’s ongoing success and thank Shareholders for their continued support.

-ends-