| SAN FRANCISCO, CA: Forecross® Corporation (VSE-FRX.U), a
leading legacy Migration and year 2000 solution company, announced today that it has
engaged FAC/Equities, a division of First Albany Corporation, a prominent technology
investment banker as a financial advisor. Under the agreement between Forecross and
FAC/Equities, Forecross will pay a fee of US$250,000 for the services to be rendered. The
fee is payable within the next eighteen months. FAC/Equities
unites traditional fundamental analysis with the focused expertise of META Group -- a
user-oriented technology-assessment and -consulting firm -- to create a powerful
combination in the investment community.
"We are delighted to announce the commencement of this
new relationship," commented Bernadette C. Castello, Senior Vice President and CFO of
Forecross. "We find FAC/Equities to be knowledgeable about the opportunities in the
IT industry and we look forward to working with them."
Founded in 1982 as a high-technology software development
laboratory, Forecross Corporation is dedicated to the design and development of innovative
conversion software. Clients have included such leading corporations as Aetna Life
Insurance Company, Brown Brothers Harriman & Company, Charles Schwab & Co., BDM
Technologies, Inc., IBM Corporation and Bank of America NTSA for its Migration software
services. AASKI Technologies, Ltd., TRW, Inc. (BDM International), CIBER, Inc.,
Information Sciences Group, Inc., NCR Corporation, SCB Computer Technology, Inc., are
among the teaming partners of Forecross Corporation for its Complete/2000® offerings. |
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. |
