December 30, 1996

Forecross Corporation Announces Completion of $1,128,000US Private Placement

Contact: Pat Dittmar (Pat@forecross.com)

SAN FRANCISCO—Forecross® Corporation (VSE-FRX.U), the industry leader in automated application Migration today announces that the private placement of 282,000 Units at a price per Unit of US$4.00 announced November 12, 1996, has been completed. An aggregate of 282,000 Units were issued to six investors for gross proceeds of US$1,128,000. Each unit shall consist of one share of Common Stock of the Company and one non-transferable share purchase warrant to purchase an additional share of Common Stock of the Company for a period of two years after the date of issuance. The share purchase warrants are exercisable at a price of US$4.00 per share in the first year and US$4.60 per share in the second year.

There is no finder’s fee payable and the proceeds of the private placement will be used for expanding the Company’s activities and for general corporate purposes.

Founded in 1982 as a high-technology software development laboratory, Forecross Corporation is dedicated to the design and development of innovative conversion software. Its clients have included such leading corporations as IBM Corporation, Royal Bank of Canada, Bank of Montreal, Fujitsu Limited, On-Line Software International, Inc., Pansophic Systems, Inc., Price Waterhouse, Cincom Systems, Inc., Kimberly-Clark Corporation, BDM Technologies, Inc. and Bank of America National Trust and Savings Association. Forecross Corporation’s Convert series of products is available directly to the IS community, optionally packaged with the Corporation’s proven methodologies and services. Complete/2000 is Forecross Corporation’s automated solution for the year 2000 market and the latest innovation offered by the Company to the IS community.

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 Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release, which has been prepared by the Company.