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4Front Technologies, Inc. Announces 3.4 Million Share Common Stock Offering At $11.00.

LONDON--(BUSINESS WIRE)--July 2, 1998--4Front Technologies, Inc. ("4Front") (Nasdaq NM: FFTI) today announced that it has priced a public offering of 3,425,000 shares of common stock, of which 469,708 are being sold by certain selling shareholders, at a price of $11.00 per share. Net proceeds to the company of the sale will be approximately $29.8 million and will be used to repay outstanding indebtedness and for general corporate purposes, including strategic acquisitions.

Hambrecht & Quist acted as lead underwriter for the offering, with FAC/Equities, Wheat First Union, and Kaufman Brothers., L.P. as co-underwriters for the NASDAQ. Hambrecht & Quist Euromarkets and Panmure Gordon & Co. Limited acted as co-managers and market makers on EASDAQ.

4Front Technologies, Inc., is a leading provider of information technology solutions, which consist of specialized computer services and complimentary products, primarily to blue chip corporations in the United Kingdom and, to a growing extent, Continental Europe. 4Front's services include hardware maintenance, help desk support, network services, specialized software services and products and the supply of high-end storage systems. Customers of 4Front include British Petroleum, British Telecom, Computer Sciences Corp., Dupont, IBM, Reuters, Pfizer, NatWest Capital Markets, JP Morgan and the UK Ministry of Defense. Additional information on 4Front can be found on the Company's website at www.4fti.com.

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although 4Front Technologies, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, changes in local or national economic conditions, and other risks detailed from time to time in the Company's SEC reports filed with the SEC, including quarterly reports on Form 10-Q, reports of Form 8-K, and annual reports on Form 10-K.

CONTACT: Investor Relations Contact:

Gregory Pettit/Jennifer Hendrickson

Shandwick USA

Tel: 212/591-9772 / 9820

or

Matthew Hooper (U.K. Investor Relations)

Shandwick Consultants

Tel: 011-44-171-329-0096

or

Company Contact:

Mark Ellis or Ken Newell

4Front Technologies, Inc.

Tel: 011-44-171-269-5848
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Publication:Business Wire
Date:Jul 2, 1998
Words:360
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