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Announcement

GENERAL: XRO: Xero passes quarter of a million subscriber milestone in UK

04 Oct 2017 09:34NZX
Xero passes quarter of a million subscriber milestone in UK,
points to integrated banking future

WELLINGTON, 4 October 2017 - Xero Limited (NZX, ASX: XRO) today announces it
has surpassed a quarter of a million subscribers (253,000 at 30 September
2017) in the UK as the company extends its market-leading position in the UK,
Australia and New Zealand while expanding globally.
As the leading cloud accounting software provider in the UK, Xero is strongly
positioned for growth as the digitisation of UK businesses continues and
government legislation ''Making Tax Digital'' is implemented.

Xero also announces that it is deepening its existing partnerships in the UK
with HSBC and Banco Santander, paving the way for enhanced banking services
on Xero''s platform.

Xero Founder and CEO Rod Drury commented: "We''re excited to celebrate this
key milestone with our valued community of accountants, bookkeepers and
ecosystem partners at Xerocon London this week. Passing through quarter of a
million UK subscribers with a focus on strong revenue growth as well, sends
clear signals that our global platform is delivering powerful value to
accountants, bookkeepers and small businesses - and we are only getting
started."

Xero''s Managing Director for the UK and EMEA Gary Turner commented:"It''s very
encouraging to see growth continuing to accelerate in such a large and
important global market for us. And it''s particularly gratifying to see our
significance to the UK market translating into closer relationships with the
UK''s banking community in the past 12 months."

To support its growth in the UK market, Xero announced in March it was
expanding its UK headquarters in Milton Keynes to accommodate new sales and
customer experience staff. From just seven staff in 2012, Xero now employs
more than 200 staff in the UK and more than 1,800 globally who are based
across 21 offices.

The company this week hosts its annual Europe and UK region Xerocon in
London, at which Xero will host 2,000 accountants, bookkeepers, and ecosystem
partners from 24 countries.

Xerocon this year showcases Xero''s biggest wave of new products as Xero
evolves from online accounting software to a global small business platform
to help grow millions of businesses around the world. Highlights of the new
products include:
- Xero HQ Open Practice Platform, an integrated multi-vendor platform for
accountants and bookkeepers to run their entire back office
- Xero HQ Ask, driving meaningful engagement between advisors and clients by
reducing the time accountants spend asking clients for information and
waiting for a response
- Xero Expenses, mobile-first expense management with Open APIs for banks to
connect to the millions of employees in small business
- CIS features and reporting capabilities adhering to HMRC CIS (Construction
Industry Scheme) rules for small businesses in construction
- Xero Projects, time and job costing for small businesses in professional
services
- Xero Discuss, allows users and their advisors to communicate within the
Xero platform
-Xero Lifelong Learning Platform, an online learning tool aimed at students
and the reskilling of the workforce, which will be delivered by educational
institutions

About Xero
Xero is beautiful, easy-to-use global online platform for small businesses
and their advisors. The company has over one million subscribers in more than
180 countries. Xero seamlessly integrates with more than 600 apps. It was
ranked No. 1 by Forbes as the World''s Most Innovative Growth Company for two
years running, won Technology Provider of the Year for the British Small
Business Awards, and was rated by Canstar Blue as Australia''s best accounting
software three consecutive years from 2015-2017.

About Subscribers
Xero measures subscribers as each unique subscription to a Xero offered
product that is purchased by an accounting partner or an end user and which
is, or is available to be, deployed.

Contact:
Xero Corporate Communications
Kate McLaughlin
+64 27 533 4529
End CA:00308217 For:XRO    Type:GENERAL    Time:2017-10-04 09:34:42
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