MORE ABOUT CITADEL AND THE FAST 500
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Monday November 23, 8:32 am Eastern Time
Company Press Release
Citadel Technology Named One of the Fastest Growing Technology Companies in Deloitte & Touche "Fast 500" Program
Citadel Ranked No. 153 with 2074% Revenue Growth
DALLAS--(BUSINESS WIRE)--Nov. 23, 1998-- Citadel Technology Inc. (OTCBB:CITN - news) has been named to Deloitte & Touche's prestigious ''Fast 500'' Program, a ranking of the 500 fastest growing technology companies in the U.S. Rankings are based on five-year percentage growth in revenues from 1993-1997.
Steve Solomon, president and CEO of Citadel said, ''We are honored to be recognized by Deloitte & Touche, such a world-renowned and respected firm. The fact that Citadel was ranked No. 153 out of over 22,000 technology companies, being part of the Fast 500, as well as being listed in the Forbes ASAP, November 30 issue is quite an achievement.'' Solomon continued, ''Taking the company to this level makes us proud. We are very excited about our future and we are determined to continue growing our company and distinguishing ourselves as a leader in the industry. We have assembled a talented management group and an excellent product line to help us to accomplish our mission to be a leading technology provider in this ever growing market.''
''To attain a listing on the Fast 500 is no easy feat, and we at Deloitte & Touche congratulate Citadel Technology for attaining this honor,'' said Mark Evans, managing director, Deloitte & Touche High Technology Industry Group. Evans continued, ''Today there are more than 22,000 high technology companies in the United States, many of whom are competing for the same markets here in the states and worldwide. The Fast 500 winners have proven that they can compete successfully by consistently delivering technological wonders. We at Deloitte & Touche commend Citadel Technology for having the vision and determination to become one of the 500 fastest-growing technology companies in the U.S.''
Citadel Technology's increase in revenues of 2074% over the five-year period of 1993 to 1997 resulted in a No. 153 ranking in the Technology Fast 500. The average increase in revenues among companies who made the Fast 500 was 2,958 percent.
To qualify for the Fast 500, companies must have had revenues of $50,000 in 1993; must be headquartered in United States; and be ''technology companies,'' defined as companies that produce technology, manufacture a technology product, are technologically intensive, use technology in problem-solving or devote a high percentage of effort to research and development of technology.
Technology Fast 500 Winners are invited to an exclusive two-day conference that will be held from April 30 to May 1, 1999 at the Arizona Biltmore in Phoenix. The conference was designed to address the unique business issues facing these super-charged, technology companies.
For more information on the Deloitte & Touche Technology Fast 500 program, visit the web site at www.us.deloitte.com/fast500.
About Citadel Technology
Citadel Technology Inc. is a developer and marketer of computer software products including security and management utilities for networks and personal computers. The company's products are designed to secure and manage personal computers (PCs) and local area networks (LANs) and enable network administrators to more efficiently manage the networks. Company products are designed to reduce client costs, improve the accuracy of clients' information, maintain the operation of the network, secure the network from fraud or unauthorized use, and generally enable the administrator to devote more time improving service to the network rather than focusing on operational details.
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services firms, provides accounting and auditing, tax, and management consulting services through 23,000 people in offices in over 100 U.S. cities. Deloitte & Touche is part of Deloitte & Touche Tohmatsu, a global leader in professional services with more than 72,000 people in over 125 countries.
For more information on Citadel Technology products, visit the company's homepage at citadel.com. For information on purchasing products, contact the company directly by writing or calling: Citadel Technology, 3811 Turtle Creek Blvd., Suite 600, Dallas, Texas 75219; phone: 214/520-9292; fax: 214/520-9293.
The above statements are not strictly historical facts and include forward-looking statements that involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements could differ materially as a result of, among other things, the following: integration of acquired technology and companies, transition of selling and distribution methods, purchasing patterns of government and federal and state agencies, the availability of capital on terms acceptable to the company, general economic conditions, competition, the market for the network software products, software development costs and possible future litigation, as well as the risks and uncertainties discussed in the company's public reports and filings and public statements.
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Contact:
Citadel Technology Inc.
Steve Solomon, 800/962-0701
or
The Investor Relations Group Inc.
Dian Griesel & John Antiaris
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