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Gold/Mining/Energy : Star Data Systems Inc. (STY,T) -- Ignore unavailable to you. Want to Upgrade?

To: Carole Olkowski who wrote (138)	2/26/1999 11:04:00 AM
From: Benjamin Ng	Read Replies (1) \| Respond to of 267

Star Data Systems Inc. Feb. 25 News Release TORONTO, Feb. 25 /CNW/ - Star Data Systems Inc. (TSE: STY) announced today that its Board of Directors has determined, based on the advice of the Special Committee of the Board, to terminate its previously disclosed initiative to explore opportunities for business combinations with interested third parties. The Board of Directors has determined that it would be in the best interest of the Company to focus on the continuing development of the Company's businesses and other developing opportunities, including strategic alliances. Peter de Auer, Chairman of the Special Committee, stated, ''The primary focus of the Board on maximizing value for the Company's shareholders has not changed. The mandate of the Special Committee to advise the Board on shareholder value maximization issues as they arise will continue.'' The Board of Directors also announced that it intends to file a notice with The Toronto Stock Exchange of its intention to make a normal course issuer bid for its common shares as appropriate opportunities arise from time to time. The Company's normal course issuer bid will be made in accordance with the by-laws and policies of The Toronto Stock Exchange. Subject to the approval of The Toronto Stock Exchange, Star Data may begin to purchase common shares for cancellation on or about March 4, 1999 (depending upon when regulatory approval is received). Pursuant to the notice, Star Data intends to acquire up to 844,257 common shares (representing 5% of the number of shares outstanding) over the next twelve months. Purchases will be made at market prices through the facilities of the exchange. The Board of Directors of Star Data believes that, on occasion, common shares may become available at prices which will make their purchase an attractive investment and an appropriate use of the Company's funds. Star Data is the leading supplier of on line, real-time financial information and transaction processing services to Canada's investment community. Information services include stock market quotations across North America, analytic support and corporate and financial news. Transaction processing services include shareholder and portfolio management, and real-time brokerage accounting systems. Additionally, the Company provides customized system development services for transaction processing clients, and computer processing outsourcing services within, and outside, the financial services industry. Star Data is based in Toronto, has offices in Vancouver, Calgary, Winnipeg, London, Markham, Montreal, Halifax and London U.K., and employs more than 350 people. Star Data is listed on The Toronto Stock Exchange under the symbol STY. For more information on the Company's products and services, visit www.stardata.com. For further information: Peter de Auer, Chairman of the Special Committee of the Board of Directors, Telephone: (416) 922-4700; Phillip H. Doherty, Chairman of the Board, Telephone: (416) 362-0582