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Technology Stocks : Egan Systems (egns)

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To: Ga Bard who wrote (426)	11/24/1998 12:47:00 PM
From: ColleenB	Read Replies (1) of 463

such a chatty group.............********NEWS******** (BSNS WIRE) Egan Systems and Prime Companies Cancel Tech 2020 Acquisitio Egan Systems and Prime Companies Cancel Tech 2020 Acquisition Talks Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 24, 1998--Egan Systems Inc. (OTC BB:EGNS) announced Tuesday that the talks with Prime Companies Inc. to acquire Egan's 51% stake in Tech 2020 Ltd. has been canceled by the mutual agreement of the board of directors of both companies. Egan Systems Inc. produces ICOBOL and VX COBOL as well as tools to assist in making programs written in these languages Year 2000 compliant. Egan Systems Inc. is public, fully reporting, and is located in Holbrook, N.Y. with research and design facilities in Raleigh, N.C. More information on Egan Systems Inc. and Tech 2020 Ltd. can be found on www.MarketManagement.com. Egan Systems-Analysts call Ed Egan, President, at 800/645-9898. Press call Thomas Tedrow at 800/777-8098. "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. --30--pp/mi* CONTACT: Press Only: Tedrow Communications Corporation Thomas Tedrow (800) 777-8098 or Analysts Only: Egan Systems Ed Egan, President (800) 645-9898 or (516) 588-8000 KEYWORD: NEW YORK INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *

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