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AMERICAN SOFTWARE ANNOUNCES INVESTMENT IN MAGNUS SOFTWARE CORPORATION

AMERICAN SOFTWARE ANNOUNCES INVESTMENT IN MAGNUS SOFTWARE CORPORATION
 ATLANTA, March 31 /PRNewswire/ -- American Software (NASDAQ: AMSWA) today announced a strategic investment in Magnus Software Corporation -- a supplier of software solutions for the insurance, benefits claims processing, portfolio and investment management industries.
 Both companies are headquartered in Atlanta. The investment of approximately $1 million will provide American Software with a minority ownership interest in Magnus.
 "We believe that this is a sound financial investment in its own right. Additionally, it complements our strategic initiative in the outsourcing environment," said American Software's Chief Financial Officer Neal Miller. "Along with opportunities to provide outsourcing services within Magnus' existing and prospective customer base, Magnus has executed an outsourcing contract with American Software, whereby American Software will manage Magnus' total computer operations."
 "This partnership with American Software enables us to work with a strong international company and industry leader in financial control software applications," said Magnus Chairman and CEO Duke Croxton. "Through the combination of our insurance software expertise and American Software's financial and international strengths, together, we can provide quality software solutions, support and services to even a greater number of customers in 1992 and beyond."
 Magnus Software Corporation is a leading supplier of software solutions for the insurance industry and self-insured, self- administrated corporations. The company supplies state-of-the-art systems for investment administration, health insurance administration and flexible benefits administration. These systems run on both the IBM mainframe and the IBM AS/400 line of computers. Magnus Software is an IBM Business Partner and Industry Application Specialist. The company also provides professional services associated with installation, implementation and support of its systems.
 Headquartered in Atlanta, American Software develops, markets and supports business application software for a wide variety of industries including manufacturing, utilities, financial institutions, health care, telecommunications and distribution concerns. American Software has offices located throughout the United States and worldwide including London, Paris, Singapore, Toronto, Tokyo, Sydney, Melbourne and Bangkok. American Software is an IBM Business Partner and Authorized Application Specialist. The company's shares are traded in the national over-the-counter market under the NASDAQ symbol AMSWA.
 -0- 3/31/92
 /CONTACT: Jennifer Hicks of American Software, 404-264-5430/
 (AMSWA) CO: American Software Corporation; Magnus Software Corporation ST: Georgia IN: CPR SU: TNM


BN-EA -- AT001 -- 3234 03/31/92 08:36 EST
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Publication:PR Newswire
Date:Mar 31, 1992
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