Accent Color Sciences Secures $2.5 Million Loan From IBM.EAST HARTFORD East Hartford, urban town (1990 pop. 50,452), Hartford co., central Conn., on the Connecticut River opposite Hartford; settled c.1640, inc. 1783. East Hartford is a trucking and warehousing center, with bulk oil storage and distribution. , Conn.--(BUSINESS WIRE)--July 22, 1998--Accent Color Sciences, Inc. (Nasdaq: ACLR ACLR American Criminal Law Review (Georgetown University Law Center publication) ACLR Adjacent Channel Leakage Power Ratio ACLR Anterior Cruciate Ligament Reconstruction ACLR Amateur Cross Link Repeater ACLR Athlétic Club La Roche ), a development stage company, today announced it has reached an agreement with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Corporation (NYSE NYSE See: New York Stock Exchange : IBM), whereby IBM will provide a $2.5 million loan. The loan has a fixed interest rate of 10 percent with quarterly interest-only payments. The principal amount of the loan is due in full on December 31, 2000. The Company also issued a warrant to IBM that provides for the purchase of 500,000 shares of Common Stock at $2.50 per share. Charles E. Buchheit, President and Chief Executive Officer of Accent Color Sciences, Inc., stated: "We are pleased by this expansion of our relationship with IBM and continue to be encouraged at the growing level of interest in using Truecolor Systems. This interest was confirmed by the recently announced order received from IBM and by the well-attended open house hosted by BB-DATA of Germany. At that open house, BB-DATA demonstrated the benefits and operational advantages of using the IBM InfoPrint. Hi-Lite Color post processor, which incorporates our Truecolor Systems technology." Accent Color Sciences, Inc. designs, manufactures and sells innovative, high-speed spot color A color that is printed from one printing plate which contains one matched color of ink. Spot colors are used when only one or two solid colors are needed on a page or when a color has to match perfectly and be consistent such as with a company logo or when colors are the trademark of the printing systems - Truecolor Systems - for the production printing and production publishing segments of the printing industry. Truecolor Systems, when integrated with high-speed, digital, black-on-white printers, creates a system that prints or highlights critical information in multiple colors for large-volume applications. Such applications include billing statements, account statements, invoices, legal notices, brochures, financial reports and short-run, on-demand publications. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. Those risks and uncertainties include, but are not limited to: (i) the level of customer acceptance of the Company's products; (ii) the ability of the Company to raise capital sufficient to support its business plan; (iii) the dependence of the Company on third party suppliers for certain key technology elements; and (iv) the potential fluctuations in the Company's quarterly results of operations. Further information on factors that could cause actual results to differ from those anticipated is detailed in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for 1997, quarterly reports on Form 10-Q Form 10-Q See 10-Q. , and other filings with the Securities and Exchange Commission. Press releases and other information are available on Accent Color Sciences' World Wide Web site at http://www.accentcolor.com.
CONTACT: Patrick Pedonti
Accent Color Sciences, Inc.
860/610-4045
or
Kehoe, White, Savage & Company, Inc.
Van Negris/Philip J. Denning
212/396-0606
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