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Technology Stocks : Q/Media Software Corp (QMS.T) -- Ignore unavailable to you. Want to Upgrade?

To: lwk who wrote (435)	3/8/1999 6:25:00 PM
From: Lalit Jain	Read Replies (1) \| Respond to of 568

Q-Media Special Warrant Buyback Q-Media Services Corporation today announced the Company has reduced future dilution of its common shares by agreeing to purchase US$2 million in special warrants issued as part of the purchase of PAC Services. The purchase and planned cancellation of the 1,139,440 warrants will reduce the Company's fully diluted shares by 6%. The warrants, which were exercisable into common shares of Q-Media, are being purchased by the Company at their deemed value of $2.50 each. The purchase was facilitated by US$2 million in debt financing from the Company's US bank. Robert M. Lawrie, President, said the buy back is beneficial as it reduces future dilution to Q-Media shareholders by some 6% without impacting the liquidity of the company's shares or substantially impacting working capital. The vendors of PAC will continue to hold 273,466 shares of Q-Media. The new number of fully diluted shares will be 16.9 million, down from 18.0 million previous to the buy back. The shares outstanding will increase to 10.7 million from 10.4 million. Q-Media Services Corporation is a leading outsourced service provider to the growing software industry. Its full range of services include software replication (CD-ROM and other media), packaging solutions, warehousing and inventory management, and order fulfillment. It operates regional manufacturing facilities in close proximity to customers in North America's major software growth areas: Vancouver, BC; Seattle, Washington; San Jose and Irvine, California, and Austin, Texas. Shares of Q-Media Services Corporation are traded on the Toronto Stock Exchange under the symbol (QMS). US SEC exemption: 12g3-2(b) 82-3761. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Marla Gale or Jon W. Kieran, Investor Relations (416) 868-1079 Hume, Kieran Inc. If you would prefer to receive company press releases via e-mail, please advise Stefanie Thompson (stefanie@humekieran.on.ca).