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To: musicguy who wrote (21984)	5/28/1998 11:27:00 AM
From: Netnut7	Read Replies (1) \| Respond to of 34592

SCMI DD:''the Company has been advised of an Agreement being reached between Regulation S shareholder, TIMBOOM LTD. and a private investor group for the sale of all the remaining shares held by TIMBOOM. The Company feels this should relieve the selling pressure the market has seen over the past several months for SCI stock.' ------------------------------------------------------------------------ Monday May 18, 10:28 am Eastern Time Company Press Release Systems Communications Inc. Files 1997 10K with SEC CLEARWATER, Fla.--(BUSINESS WIRE)--May 18, 1998--Systems Communications Inc. (OTCBB:SCMI - news) announced today that it filed its 1997 Annual Report on Form 10K and its quarterly report on Form 10-Q for the 1998 1st Quarter with the Securities and Exchange Commission on May 8, 1998. Systems Communications Inc. reported net revenues of approximately $1,500,000 and a net loss of approximately $517,166 for the year ended Dec. 31, 1997 compared to net revenues of approximately $2,800,000 and a net loss of approximately $19,300,000 for the 1996 fiscal year. The effect of discontinued operations reduced the net loss by approximately $789,000 in 1997 and increased the 1996 net loss by approximately $1,322,000. The loss in 1996 also reflects non-cash items of approximately 14.2 million to write-off intangibles and good will recorded in connection with discontinued operations. In the 1st quarter of 1998, the Company reported net income of approximately $241,000 compared to net income of approximately $1,226,000 in the first quarter of 1997. In the 1997 1st Quarter, the Company had a non-recurring gain of approximately $2,700,000 and a non-recurring loss of approximately $303,000 and in the 1998 1st Quarter, the Company had non-recurring gains totaling approximately $593,000. Diluted earnings per share in the 1998 1st quarter was an income of $0.02 compared to income of $0.08 in the 1997 1st Quarter. Edwin Salmon, chairman of SCMI, commented, ''We are very pleased with the new direction of the Company under our new management team. We have successfully discarded unprofitable divisions and subsidiaries focusing our main emphasis toward the healthcare management sector of corporate America.'' Salmon adds, ''Our healthcare management software capabilities coupled with our strategic alliance with HMG Health Care Claims Auditing Inc. gives us the ability to penetrate the $300 billion dollar industry with tremendous growth potential in the years ahead as we continue our aggressive marketing campaign for 1998 and beyond.'' Salmon also added, ''the Company has been advised of an Agreement being reached between Regulation S shareholder, TIMBOOM LTD. and a private investor group for the sale of all the remaining shares held by TIMBOOM. The Company feels this should relieve the selling pressure the market has seen over the past several months for SCI stock.'' ------------------------------------------------------------------------ Contact: ICS Communications Inc. Dave Wood, 800/964-8007 (Broker and Investor Relations) or Systems Communications Inc. Ed Salmon, 813/530-4800