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Technology Stocks : SEEC, Inc. (SEEC) -- Ignore unavailable to you. Want to Upgrade?

To: Nanda who wrote (350)	6/2/1998 3:07:00 PM
From: RBB	Read Replies (1) \| Respond to of 1031

Response from SEEC (Yahoo Post): Looks like we were successful in invoking a response from the company. I just received this via EMAIL from Rick G. Dear Investor, SEEC management shares your concern about the recent drop in our share price. Let us assure you that, in management's opinion, there have been no developments in the Company's business that would warrant such a dramatic decline in SEEC's market valuation. As you know, the Company announced record financial results on May 11 for the March 31, 1998 quarter, and those results exceeded "Street" estimates once again. In fact, it was the fifth consecutive quarter of exceeding the estimates. We have been asked quite often why SEEC does not generate a press release with every new customer. The reason is that most of our customers, and especially the financial institutions where we have enjoyed much success, do not wish to be mentioned in press releases related to Y2K. Without customers' names, press releases are rendered more or less ineffective. Still, we recognize the need to keep our investors and potential investors informed. During an eight week period preceding the earnings announcement, we put out no fewer than five press releases to inform our investors of the Company's progress. These releases covered, among other topics, our partnership with Mercury Interactive, the introduction of our Accutest testing solution and its range of utility (that is, significant post Y2K applications), our success in selling into IBM DOS/VSE installations, and developments related to the strengthening of our relationship with IBM. The introduction of Accutest has already enabled us to add a number of significant Fortune 500 accounts to our growing list of customers. We also announced on May 11 our acquisition of certain assets of ERA Software Systems Private Limited, our affiliate and distributor in Hyderabad, India. That acquisition has significant, potential advantages to SEEC, providing an efficient vehicle for our continued expansion into the Asian and Pacific Rim markets and also further enhancing our research and development capacity. Incidentally, we do not anticipate that any sanctions imposed by the U.S. government as a result of India's nuclear testing will have a material adverse impact on our operations. While we continue to capitalize on Y2K, we have redirected most of our development resources to non-Y2K opportunities that represent natural extensions and applications of our technology, i.e. EURO conversion, data warehousing, legacy system modernization, and more. We plan to acquire complementary technologies where it makes sound business sense. SEEC's business fundamentals have not changed. Still, we encourage you to read our SEC filings to learn of the risks or uncertainties related to SEEC's business. Also, as a word of caution, any statements in this communication that are not historical facts contain forward-looking information that inevitably involves risks and uncertainties that may cause actual results to differ. ÿ