News Release
FORECROSS CORPORATION RETAINS FIRST ALBANY CORPORATION, A NEW YORK BASED INVESTMENT BANKING FIRM, AS FINANCIAL ADVISOR
SAN FRANCISCO, June 10 /CNW/ - Forecross(R) 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(R) offerings.
On Behalf of the Board of Directors,
Bernadette C. Castello
Senior Vice President and CFO
FORECROSS CORPORATION
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.
Forecross is a registered trademark of the Forecross Corporation.
Complete/2000 is a U.S. registered service mark of Forecross Corporation.
-0- 06/10/98
For further information: Patricia A. Jones (415) 543-1515, fax (415) 543-6701, Patricia_Jones@forecross.com or forecross.com
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