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To: CharlieBoy who wrote (7201)	8/17/1998 12:26:00 PM
From: Tech Master	Read Replies (3) \| Respond to of 10786

Monday August 17, 12:01 pm Eastern Time Company Press Release SOURCE: Alydaar Software Corporation Alydaar Software CEO To Purchases Company Stock Citing Strong Business Outlook CHARLOTTE, N.C., Aug. 17 /PRNewswire/ -- Alydaar Software Corporation's CEO, Robert Gruder, today announced his intentions to purchase shares of Alydaar Common Stock in the market from time to time. Robert Gruder stated, ''Our business continues to grow at double-digit rates as well as our profitability. We enjoyed an excellent second quarter and the market did not reward the Alydaar shareholders accordingly. Therefore, I see this time as an opportunity to acquire Alydaar for my personal holdings.'' Gruder continued, ''The marketplace perceives Alydaar as a Year 2000 company. The management teams, as well as all of the employees of Alydaar, certainly do not view the company this way. Alydaar is implementing its post two thousand strategy internally. The strategy includes internet development, supply chain procurement, and legacy to client server transformations. Alydaar anticipates making these plans more definitive by October 15, 1998.'' Alydaar Software Corporation (Nasdaq: ALYD - news) is a software re-engineering company, specializing in providing services to resolve the Year 2000 problem, as well as computer language translation and systems migration services. Using SmartCode, its core re-engineering technology, Alydaar can automatically correct millions of lines of code per month at its Charlotte, NC code remediation factory. Alydaar has offices throughout North America and Europe. More information about Alydaar Software and its services can be found on the World Wide Web at alydaar.com. The statements made in this news release that are not historical facts contain ''forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by the use of forward-looking terminology such as ''may,'' ''will,'' ''anticipates,'' ''intends,'' ''expects,'' ''projects,'' ''estimates'' ''believes'' or ''continue,'' the negative thereof, other variations or comparable terminology. Important factors, including certain risks and uncertainties, with respect to such forward looking statements that could cause actual results to differ materially from those reflected in such forward looking statements include, but are not limited to, the impact of competitive products and services, the ability of customers to package code in a timely manner, the Company's ability to manage growth and acquisitions of technology or people, the effect of economic and business conditions, including risks inherent in international operations and the ability to attract and retain technical personnel. SOURCE: Alydaar Software Corporation --------------------------------------------------------------------------------