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Technology Stocks : PRVO:PREVIO INC earnings +45% for '96 (A good story) -- Ignore unavailable to you. Want to Upgrade?

To: Norrin Radd who wrote (922)	5/3/1999 11:12:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 955

The inevitable reverse split: biz.yahoo.com Monday May 3, 8:00 pm Eastern Time Company Press Release SOURCE: Stac Software, Inc. Stac Software Announces Reverse Stock Split SAN DIEGO, May 3 /PRNewswire/ -- Stac Software, Inc. (Nasdaq: STAC- news), the leader in recovery solutions for remote Windows networks, today announced that the Company's Board of Directors approved a one-for-four reverse split of its common stock. The reverse split represents the conclusion of the Company's financial engineering efforts that began with the December 1998 spin-off of its Hi/fn subsidiary. ''We believe that the reverse split will allow us to better leverage our operating results, while at the same time align our outstanding share position with comparably sized companies,'' said John Ticer, president and chief executive officer of Stac. The reverse split as previously approved by the Company's stockholders at the 1999 Annual Meeting of Stockholders held on March 11, 1999, will reduce the number of outstanding shares from approximately 23,731,000 shares, to approximately 5,932,750 shares. All holders of Common Stock as of close of market on Friday May 7, 1999 will receive one new share of Common Stock in exchange for every four shares of common stock held. Registered stockholders as of the close of trading on May 7th will receive written notice regarding the procedures for exchanging their certificates. Stac Software, Inc. Founded in 1983, Stac Software, Inc. is known worldwide for its innovations in data compression. The company builds on these advancements to create high-performance systems recovery software solutions to protect business-critical data in networked enterprises. Stac has established strategic relationships with Hewlett-Packard, IBM, Legato Systems, Microsoft, Novell, and other industry leaders. Stac's products are sold through a variety of domestic and international channels. Information on Stac's award-winning products can be accessed via the Internet at stac.com, by calling the company's North American Headquarters in San Diego, California: 1-800-279-7822 (U.S. and Canada), Stac's European Headquarters in the United Kingdom: +44(0) 1344-302900 (Europe) or +1 (619) 794-3741 in other countries. * Except for the historical information contained herein, thisnews release contains forward-looking statements that involve risks and uncertainties. The Company makes no assurances regarding the future success of its products. Those risks include, but are not limited to, delays in the development or introduction of products, customer or sales channel acceptance of products and competitive product introductions from new or established competitors. The Company does not project future financial results and expressly disclaims responsibility for any such projections released by third-party analysts. The above risk factors are more fully discussed in the Company's Form 10-K for the year ended September 30, 1998 and its quarterly reports on Form 10-Q. Stac Software, Inc., Stac, ReachOut, and Replica are trademarks or registered trademarks of Stac Software, Inc. All other trademarks are the property of their respective owners. SOURCE: Stac Software, Inc.