IMSI Achieves Operating Profit

Board of Directors and Management Team

An integral part of IMSI's restructuring over the last 90 days has been to revitalize its board of directors and management team. In addition to the appointment of the company founder Geoffrey Koblick as CEO and chairman in February, the company has appointed the following new board members and key employees:

Mark T. Boyer, director: Boyer has been in the investment business for more than 18 years. Since July 1992, he has been the president and a director of ROI Capital Management. Prior to his work at ROI, Boyer was a general partner and portfolio manager with Volpe, Welty, & Co. in San Francisco, Calif., and has also worked as an analyst and fund manager with Fidelity Management Research Inc. in Boston.

Robert Mayer, director: Mayer is vice president of Adventa, an Internet direct marketing company. Formerly, he was executive vice president of Worldwide Sales & Marketing, and a co-founder of IMSI. Mayer received his master's degree from the University of Washington, and bachelor's degree from the University of California at Berkeley.

Richard M. Hall, director: Hall is the vice president, general merchandise manager of Miadora, the leading designer jewelry showcase on the Internet. Hall brings with him more than 20 years of retail and branding experience, managing both buying-line and store-line jewelry operations at the Macy's West Division of Federated Department Stores.

Mike Gariepy, director and senior vice president: In 1985 Gariepy founded Zedcor Inc., a publisher of award winning software products like DeskGallery, DeskPaint, DeskWorks, FutureBASIC and others. In 1996, Zedcor created the Internet's biggest and fastest growing graphics site, ArtToday.com, which was acquired by IMSI in 1998. Today, Gariepy heads the development of IMSI's new e-commerce business, HomeDesignToday.com, which will be offering home design online with 3-D viewing and editing.

Jeffrey B. Morgan, chief financial officer: Morgan brings to IMSI more than 25 years of experience in finance and operations with both large and small companies. His experience includes 11 years of progressively increasing financial responsibilities with Chevron Corp. culminating with full responsibility for accounting principles and policies and regulatory reporting and analysis for this multi-national company. Morgan earned his master's degree in business administration with an emphasis in finance from the University of California at Berkeley and was named a Flood Fellow.

Peter Zingg, chief technical officer: Zingg has been with IMSI since 1993 and brings more than 20 years of computer-aided design and architectural visualization experience to IMSI. Zingg received his bachelor's degree from Yale University and went on to earn a master's degree in architecture at UCLA and is a registered architect in California.

Peter Gariepy, president of ArtToday.com: Gariepy co-founded ArtToday.com in 1988 and has been its president for the last several years. Before joining ArtToday.com, Gariepy established Software Unlimited, one of the first software stores in the United States. He later managed computer retail stores for Vamont Industries and Bell Atlantic Corp.

Paul Jakab, executive vice president Business Development and International Sales: Jakab brings to IMSI four years of international sales and management experience, and more than 20 years of experience advising a variety of high tech companies, including Apple, Mindscape, and several Internet companies, with respect to a broad range of business and legal issues. Jakab has a bachelor's from Harvard, an MBA from Stanford, and a J.D. from Columbia University.

Kathleen Mountanos, vice president of Sales, North America: Mountanos has been in the software industry for more than 17 years and with IMSI for seven of those years. Capitalizing on the strength of TurboCAD and TurboProject in the corporate arena, Mountanos expanded the IMSI sales department to include corporate, government and educational sales divisions. She has extensive contacts throughout the retail and the corporate industry. Mountanos received her bachelor's in Liberal Arts from St. Mary's College and her master's degree from the University of San Francisco.

Ivan Dana, vice president of Direct Marketing: Dana has more than 20 years of experience in sales, business development and operations. Before coming to IMSI in 1993, Dana developed private label programs for companies such as the Nature Co. and Imaginarium. Dana earned his bachelor's degree from the University of Southern California.

Russian Technical Team: For more than six years, IMSI software development has been the result of the extraordinary work of more than 40 engineers and software developers in St. Petersburg, Russia. This team continues to be integral to IMSI's future plans.

Koblick concluded, "The first 90 days of the new IMSI have been challenging in light of the huge transition we have undertaken, and in terms of the financial situation of the company. We are pleased with our progress and have exceeded our expectations so far. We will need the continued support of our creditors, along with the hard work and perseverance of our dedicated team to achieve our goals. IMSI has an excellent technology base and a large amount of intellectual property assets upon which it can rebuild itself. We look forward to meeting this challenge."

Individuals can obtain stock prices and information for IMSI while it is being traded on the "Pink Sheets" at www.Bloomberg.com and other sites on the Internet.

IMSI is a registered trademark of International Microcomputer Software Inc.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors including the ability of the company to successfully commercialize its new technologies as well as risk factors set forth under "Factors Affecting Future Operating Results" in the company's annual report on Form 10-K and such other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

COPYRIGHT 2000 Business Wire
COPYRIGHT 2000 Gale Group