Aztec Technology Partners Announces Arrest of Former Owner/President of Subsidiary Solutions ETC.

BOSTON--(BUSINESS WIRE)--Nov. 12, 1998--Aztec Technology Partners, Inc., (NASDAQ:AZTC), a leading single source provider of information technology business solutions, today announced that Ahmad Shreateh, former owner and president of its recently-acquired subsidiary, Solutions ETC, has been arrested in San Francisco, California by federal authorities on charges of wire and mail fraud. The charges stem from fraudulent records presented in connection with the sale of Solutions ETC to Aztec on October 2, 1998, for $12 million with a $1.2 million holdback.

According to Doug Johnson, Aztec's executive vice president and chief financial officer, "Mr. Shreateh's fraudulent statements and documents related predominantly to the size of Solutions ETC. Based on our preliminary analysis, Aztec does not expect any material impact on our financial position or on the results of operations."

Shortly after the acquisition was completed, Aztec discovered that some of the financial statements and corporate records Mr. Shreateh presented during the extensive due diligence process appeared to be fraudulent and immediately launched a formal investigation, initiated a full audit by PricewaterhouseCoopers LLP, and terminated Mr. Sheateh's employment contract. When the investigation confirmed the fraudulent documents, Aztec referred the matter to appropriate law enforcement officials who apprehended Mr. Shreateh late yesterday. Aztec believes that Mr. Shreateh acted alone and that other Solutions ETC employees were not involved in the fraudulent activities.

James Claypoole, chairman and chief executive officer of Aztec stated: "While these events are deplorable, Mr. Shreateh's personal actions do not compromise the fundamental strategic business reason for acquiring Solutions ETC which is a sound company whose IT professionals have extensive enterprise design capabilities. Our goal continues to be offering Solutions ETC's expertise to the 2,500 customers Aztec serves nationwide and expanding all of Aztec's IT services to Solutions ETC's clients."

About Aztec Technology Partners

Aztec Technology Partners, Inc. is a single-source provider of a broad range of information technology business solutions. Aztec specializes in enterprise design and implementation; software development and customization; voice and data infrastructure design and integration; and IT support, consulting and outsourcing. By focusing on four core competencies, the Company provides complementary IT solutions making Aztec a "one-stop" IT solutions provider with exceptional personalized service. Aztec's primary focus is the mid-market sector, as well as Fortune 1000 companies, in a wide range of industries including communications, health care, financial services, government, manufacturing, pharmaceuticals, professional services and technology. The Company has 22 offices in 11 states and employs nearly 1400 people.

This press release contains "forward-looking statements," within the meaning of federal securities laws, that involve risks and uncertainties. All statements herein, other than those consisting solely of historical facts, that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such matters as business strategy, measures to implement strategy, competitive strengths, goals, references to future successes and other events, may be forward-looking statements. Statements herein are based on certain assumptions and analyses by the Company in light of its experience and its perception of historical trends, current conditions and potential future developments, as well as other factors it believes are appropriate in the circumstances. However, whether actual results, events and developments will confirm with the Company's expectations is subject to a number of risks and uncertainties and important factors could cause actual results, events and developments to differ materially from those referenced in, contemplated by or underlying any forward-looking statements herein, including , among others, the continued development and viability of the Company's operations, the Company's success in identifying, completing and integrating acquisitions, the Company's ability to manage its growth, the impact of industry and economic conditions, competition and other factors, many of which are beyond the control of the Company. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized.