Intrinsyc Software Inc. (T.ICS) (formerly V.ICS) Message Board

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Gold/Mining/Energy : Intrinsyc Software Inc. (T.ICS) (formerly V.ICS)

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To: Codfish who wrote (365)	6/30/1998 8:26:00 PM
From: Codfish	Read Replies (1) of 1635

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: INTRINSYC SOFTWARE INC. VSE SYMBOL: ICS NASDAQ SYMBOL: ISYRF JUNE 30, 1998 Intrinsyc Software: Business Update VANCOUVER, BRITISH COLUMBIA--Intrinsyc Software, Inc. announced today that audits have been completed and a draft fairness opinion has been rendered in connection with the proposed acquisition of Annasoft. The valuations of the two companies have been adjusted such that the shareholders of Intrinsyc will hold approximately 68 percent of the share capital of the combined entity, on a fully diluted basis, and the shareholders of Annasoft will hold the balance, based on the fully diluted share capital of the two entities as at February 28, 1998. Final ownership interests will be subject to adjustment. The Company is in the process of completing its due diligence review and negotiating a definitive agreement. Intrinsyc Software Inc. (VSE:ICS, NASDAQ:ISYRF) develops, markets, sells, and supports software tools and components for the development of Microsoft Windows-based embedded systems. These tools and components enable OEMs to rapidly develop software applications for a wide range of consumer and commercial electronics products that span multiple industries. On Behalf of the Board of Intrinsyc Software Inc. Derek Spratt, President and CEO -30- FOR FURTHER INFORMATION PLEASE CONTACT: Intrinsyc Software Inc. Derek Spratt President and CEO 1-800-474-7644 info@intrinsyc.com intrinsyc.com The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.

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