February 23, 2000 - Forecross Announces First Quarter 2000 Results

Forecross Corporation Announces First Quarter 2000 Results

February 23, 2000

Contact: Pat Dittmar (Pat@forecross.com)

San Francisco, California: Forecross® Corporation (OTCBB - FRXX) a legacy to web and XML implementation solution company, announced today its operating results for the three months ended December 31, 1999. First quarter revenues were $1,416,905 as compared to $759,915 for the corresponding period in 1998. The Company's net loss amounted to $34,586 (or $.00 per share) for the three months ended December 31, 1999, as compared to a net loss of $769,111 (or $0.07 per share) for the three months ended December 31, 1998.

Operating results for the quarter ended December 31, include:

	Three Months Ended December 31, 1999	Three Months Ended December 31, 1998
Revenues	$1,416,905	$759,915
Cost of Revenues	552,052	642,606
Operating Expenses	757,585	752,432
Income (Loss) from Operations	107,268	(635,123)
Other (Expense)	(141,854)	(133,988)
Net Loss	(34,586)	(769,111)
Net Loss per share	(0.00)	(0.07)
Weighted Average Number of Shares Outstanding	12,316,944	11,766,112

At December 31, 1999, the Company's backlog was $282,000. Migration services revenues for the quarter ended December 31, 1999, were $111,000 versus $67,176 for the same quarter of 1998. Year 2000 revenues for the December 31, 1999, and December 31, 1998, quarters were $1,057,000 and $692,739, respectively. Revenues for the December 31, 1999 quarter also included $108,000 in consulting revenues and $141,000 in year 2000-related software license and maintenance fees.

"We are pleased to report the progress we've made in streamlining our operations and the positive effect it has had on our margins," commented Bernadette C. Castello, Chief Financial Officer.

About Forecross

Founded in 1982 as a high-technology software development laboratory, Forecross Corporation is dedicated to the design and development of innovative software to re-deploy and sustain legacy applications on the Internet. Clients have included such leading corporations as Aetna Life Insurance Company, Brown Brothers Harriman & Company, Charles Schwab & Co., IBM Corporation and Bank of America NTSA for its re-deployment software and services. Teaming partners of Forecross Corporation include KPMG Consulting, Hitachi Data Systems, TRW, Inc. (BDM International), CIBER, Inc., SCB Computer Technology, Inc., and Sapiens Americas (a subsidiary of Sapiens International).

On Behalf of the Board of Directors,

Bernadette C. Castello
Senior Vice President and CFO
Forecross Corporation

Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the company’s accounting policies and other risk factors detailed in the Company’s SEC and BCSC filings.

The U.S. Securities and Exchange Commission has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release, which has been prepared by the Company.