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Technology Stocks : Remedy Taking a hit why?

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To: Ms. Baby Boomer who wrote (306)10/13/1997 10:35:00 AM
From: Ms. Baby Boomer   of 763
 
Monday October 13 6:00 AM EDT

Company Press Release

BayStone Software, Inc. Ramps up for Success with
the Addition of Three Strong Industry Executives

BayStone Adds Extensive Leadership Expertise in Finance,
Marketing and Engineering to Drive Fast-Growing Company to a
Leadership Position in the CIS Market

SARATOGA, Calif., Oct. 13 /PRNewswire/ -- BayStone Software, Inc., a vendor of customer care software applications, today announced the appointment of Robert A. Garrow to Vice President of Engineering, Robert E. Lawton to Vice President of Marketing, and Ralph J. Harms to Chief Financial Officer. The combined executive leadership in engineering, marketing, and finance will drive the company's expansion in the fast growing CIS market, an opportunity estimated to be $3.5 billion by the year 2000.

''These appointments come during a period of tremendous growth, evidenced by BayStone's record revenue increase of over 400% in 1997,'' said Bob Lux, president and CEO of BayStone. ''The addition of these seasoned executives and their varied backgrounds will help us tremendously as we build on the company's early success and move into new market stages. We are very pleased to welcome them to our
management team.''

As Vice President of Engineering, Robert A. Garrow brings over 15 years of executive level experience in general management, engineering, and manufacturing in both startups and very high growth technology companies. Garrow will be responsible for spearheading the aggressive development and delivery of complete integrated customer care solutions. Reporting to Mr. Garrow is Dr. Warren Tietleman, Vice President of Research and Development. Dr. Tielteman will now focus his efforts on the creation of new product advancements that continue to provide technical leadership for BayStone.

Most recently, Garrow was Chief Executive Officer, Co-founder, and Director of Athenix Corporation, a startup dedicated to the manufacturing and marketing of X-Terminals. Before Athenix, Garrow served as the General Manager and Vice President for the Workstation Division at Sun Microsystems, responsible for engineering, manufacturing, and product marketing. Prior to Sun Microsystems, Garrow was a Co-Founder of Convergent Technologies and served as VicePresident of Engineering as well as Workstation Division VP and General Manager. Garrow also held various management and executive positions at Intel Corporation. He holds a B.S.E.E. degree from University of California, Berkeley.

''BayStone is dedicated to delivering the most turnkey, adaptable and affordable customer care solutions available today,'' said Garrow. ''We've proven our ability to rapidly advance our product capability increasing our technical advantage and our customer's satisfaction.''

In his role as Vice President of Marketing, Robert E. Lawton is responsible for all marketing activities, including product marketing and marketing communications. He will focus on creating and implementing marketing and product strategies that support the company's vision.

''We have products with a proven ability to bring out-of-the-box customer care solutions at an affordable price to an increasingly competitive market,'' said Lawton. ''The company has all the makings for success -- unparalleled management experience, credibility in customer support and satisfaction, and new products that will expand our market opportunity in a competitive market area.''

Lawton brings to BayStone over 20 years of executive management-level marketing and engineering experience to BayStone. Most recently, he was the Vice President of Marketing, Emerging Technology Group, for NetManage, Inc., where he also served as Senior Vice President of Worldwide Engineering. Prior to joining NetManage, Lawton was General Manager of Internet Products Group and Vice President of Marketing at Attachmate Corporation/The Wollongong Group. Lawton has also held
key marketing positions at NeXT Computer, SunSoft, Interactive Systems, and Hewlett-Packard Corporation.

With over 20 years of financial and IS experience, Harms brings experience from managing two successful Initial Public Offerings (IPOs) to BayStone. Harms will be responsible for Investor Relations, financial controls and process development leading to predictable financial performance and impeccable financial accounting. Harms' extensive background in successfully managing progressive companies, public offerings, mergers and acquisitions will be extremely valuable.

''I came to BayStone because it has opportunities that most privately held companies only dream about,'' said Harms. ''With outstanding revenue growth to date and the high value of CIS vendors, BayStone clearly has tremendous opportunity.''

Prior to joining BayStone,Harms served as VP and CFO of dpiX, a Xerox Company, where he was responsible for the company's financial and administrative activities and set up integrated MIS, financial controls, administration and product life cycle process. Previously, he served as VP Finance and Administration, CFO and Secretary of ESS Technology, where he successfully defined financial strategy for the company and was integral in the company's public offering which raised $120 million. Harms has also held key financial management positions at SEEQ Technology, Philips Semiconductors, Intel and Rockwell International. Harms holds a Masters degree in Business Administration from the University of Michigan and a B.S.E.E. degree from Michigan State University.

About BayStone

BayStone provides enterprise-wide CIS solutions that focus on customer care applications including: customer support, quality control, sales and marketing automation, and executive decision support solutions. Based on Remedy Corporation's (RMDY) Action Request System, BayStone's product offering provides turnkey functionality, fast and easy adaptability, predictable implementation and pricing, and affordable cost of ownership. BayStone customer care software dramatically improves the effectiveness of customer-focused business processes across the enterprise, resulting in greater customer satisfaction and
loyalty. Founded in 1995, BayStone is a privately held company headquartered in Saratoga, California.

NOTE: BayCenter, BayQuality, BaySupport, BayLeads, BaySales, iMonitor, and WebXchange are trademarks of BayStone Software. All other trademarks used herein are the property of their respective owners.

SOURCE BayStone Software, Inc.

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