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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?

To: Roger A. Babb who wrote (13109)	11/26/1997 2:01:00 PM
From: NYBellBoy	Respond to of 18263

Roger - I am also increasing short in Zitl. As I suspected, it cost The Zit $5 or $6K to put this news in PR Newswire and to stop the bleeding. Zitel CEO Reports Changes to Beneficial Ownership of Zitel Common Stock <PR Newswire, Wednesday, November 26, 1997 at 06:17> FREMONT, Calif., Nov. 26 /PRNewswire/ -- Jack H. King, President and Chief Executive Officer of Zitel Corporation (NASDAQ:ZITL) has reported to the Securities and Exchange Commission, changes to his beneficial ownership of Zitel common stock. On November 13, 1997, Mr. King exercised 100,000 non-qualified options, which were due to expire on November 18, 1997. Mr. King then sold 60,000 shares, enough to cover the cost of the transaction and the tax liability due on account of the exercise of the non-qualified options. The net result of the transaction was an increase in Mr. King's direct holdings by 40,000 shares, to 345,846. Mr. King holds a total of 610,846 shares beneficially. "I remain committed and positive about Zitel's future," commented King. "My decision to sell a portion of the exercised options was driven by the need to cover costs and the resulting tax liability." Continuing, Mr. King said, "We are encouraged by the growth of prospects and opportunities in our pipeline-in each division. However, we continue to feel the frustration of delay with regard to the Year 2000 market. We are effectively using this time to position ourselves within the Y2K market in order to capture our share of that market." Zitel Corporation is an Information Technology company specializing in advanced memory algorithms, systems optimization, and modeling and search technology. The Company employs these core competencies in three related lines of business: multi-platform and multi-system performance measurement and modeling software used to optimize performance in mission-critical environments; high-performance, enterprise-wide storage systems for mission-critical applications that include relational database, batch and on-line transactions; and, Year 2000 services and consulting including project management, planning, analysis, code conversion and testing using the MatriDigm technology and other tool sets. The Company is headquartered at 47211 Bayside Parkway, Fremont, CA 94538. Telephone: 510-440-9600 or 800-622-5020. FAX: 510-440-9696. zitel.com. For information on Year 2000 compliance services, call 888-FIND-FIX. This release contains forward-looking statements regarding future events and/or future financial performance of the Company. These statements are only predictions and actual results may differ materially. Refer to the documents the Company files from time to time with the Securities and Exchange Commission. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in the forward-looking statements in this release. SOURCE Zitel Corporation -0- 11/26/97 /CONTACT: Roberta L. DeTata, Director of Investor Relations, Zitel Corporation, 510-440-9600, or 800-622-5020/ /Web site: zitel.com

To: Roger A. Babb who wrote (13109)	11/26/1997 2:21:00 PM
From: NYBellBoy	Read Replies (1) \| Respond to of 18263

Roger - from Briefing.com............. <13:23 ET Zitel (ZITL) 11 +13/16: CEO exercised option to buy 100,000 shares and then sold 60,000 to cover costs. Net increase of 40,000 shares raises shares under his control about 7% to 610,000. That apparently has boosted the stock price 8%.> I just shorted 1000 more Zits @ 11 1/16 driving up the price. So Jacks PR machine for $5 or $6K started the uward trend and I think many of us have added to the days rise. Happy Thanksgiving :) BellBoy