To all,
Friday December 4, 12:33 pm Eastern Time
Company Press Release
SystemSoft Reaches Agreement to Settle Class Action
Securities Litigation
NATICK, Mass.--(BUSINESS WIRE)--Dec. 4, 1998--SystemSoft Corporation (NASDAQ:SYSF - news) announced
today that is has reached an agreement in principle to settle all nine of the consolidated shareholder class
actions that were brought against the company and certain of its current and former officers and directors in
the United States District Court for the District of Massachusetts in Boston.
The terms of the proposed settlement are to include the issuance of 5.2 million shares of the company's
common stock and a contribution by SystemSoft's directors' and officers' liability insurance carrier of $2.9
million to the plaintiff class. The company has tentatively agreed to reimburse the insurance carrier $200,000
which will be considered upon certain financial targets being met by the company.
The settlement is subject to the signing of a definitive agreement and to final court approval of the proposed
settlement.
''While SystemSoft continues to believe that the company would prevail in each of these cases, we feel that
settlement at this time is in the company's best interests in light of the expense, time and distraction involved
in defending the consolidated lawsuit,'' said Frank A. Sola, SystemSoft's C.E.O.
ABOUT SYSTEMSOFT
SystemSoft is a leading worldwide provider of system-level, connectivity and problem-resolution software.
SystemSoft's portfolio of technology innovations includes SystemWizard(tm), CardWizard(tm) PC Card software,
ACPI firmware and development tools and BIOS. Founded in 1990, the company reported annual revenue of
$42.6 million in its 1998 fiscal year. SystemSoft's licenses its products primarily to Original Equipment
Manufacturers (OEMs). Its clients include Acer, Apple, AST Computer, Compaq, Dell, Fujitsu, Gateway 2000,
Hewlett-Packard, Hitachi, IBM, Intel, Micron, Packard Bell NEC and Toshiba. SystemSoft can be reached on the
web at www.systemsoft.com.
Any statements that are not historical facts contained in this release are forward looking statements, including
statements concerning future product plans and management's goals and objectives. Those statements are
subject to risks and uncertainties that could cause actual results to differ materially from those anticipated,
including but not limited to, those relating to product demand, pricing, market acceptance, competitive
products, risks in product and technology development, and other risks identified in the Company's Securities
and Exchange Commission filings.
All referenced product names are trademarks of their respective companies.
Contact:
SystemSoft Corporation
Terri Bonee
(508) 651-0088
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