Acacia Research Names Peter Frank, Former 20th Century Fox and Gramercy Pictures Financial Executive, as Chief Financial Officer.

PASADENA, Calif.--(BUSINESS WIRE)--Oct. 11, 1999--

Acacia Research Corporation (Nasdaq/NMS:ACRI) announced today that it has named Peter Frank, former 20th Century Fox and Gramercy Pictures financial executive, as its Chief Financial Officer.

Mr. Frank was formerly Chief Financial Officer of Gramercy Pictures where his overall responsibilities included strategic planning, operations, marketing finance and accounting. He was also involved with marketing and distribution strategy and managed a $100 million annual advertising, development and overhead budget. Following the sale of Gramercy Pictures earlier this year, Mr. Frank had been interim Chief Financial Officer of RKO Pictures where he was in charge of developing new strategic initiatives for the company, raising outside financing, and was head of the Strategy Committee and the Internet/New Media Committee.

Prior to joining Gramercy Pictures, Mr. Frank was Vice President, Marketing Finance and Administration of Twentieth Century Fox. He was responsible for the business planning and financial activities of the division's television and movie business and managed the annual advertising budget of $500 million. His earlier position with the company was Director, Corporate Audit for Fox, Inc., where he was head of the department for worldwide operations and reported directly to the Chairman. Prior to joining Fox Inc., Mr. Frank was a manager with Arthur Young & Company in Los Angeles.

R. Bruce Stewart, who had been Chief Financial Officer, was named Director of Business Development. Mr. Stewart is also Chairman of the Board of Directors and founder of the company.

Mr. Frank will be a key member of the executive management team. He will be involved in a broad range of activities that will include strategic planning, deal structuring, business development, corporate finance, and investor relations as well as accounting and administration.

Acacia Research CEO Paul Ryan commented, "We are extremely pleased to have Peter Frank join our company as Chief Financial Officer. His exceptional senior management experience in entertainment, broadcasting and new media is ideal given our focus on building new Internet media companies."

Acacia Research Corporation is a diversified company with interests in several enterprises -- CombiMatrix Corporation (biochips/drug discovery technology), Greenwich Information Technologies LLC (video and audio-on-demand technology), MerkWerks Corporation (software development), Signature-mail.com llc (personalized e-mail service), Soundbreak.com Incorporated (Internet music and e-commerce), Soundview Technologies Incorporated (V-chip technology), and Acacia Capital Management (investment advisory