Barrack Rodos Files Suit Against New Era of Networks, Inc. and Its Officers and Directors Alleging Misrepresentations.

PHILADELPHIA--(BUSINESS WIRE)--Aug. 6, 1999--

Counsel for Class Plaintiff, Barrack, Rodos & Bacine, today issued the following:

A class action has been commenced in the United States District Court for the District of Colorado on behalf of all persons who purchased the common stock of New Era of Networks, Inc. (NASDAQ:NEON) ("New Era" or the "Company") between October 29, 1998 and July 7, 1999, inclusive (the "Class Period").

The complaint charges New Era and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 as well as Rule 10b-5 promulgated thereunder. The complaint alleges that defendants issued a series of materially false and misleading statements concerning the company's operations and earning trends.

Because of the issuance of a series of false and misleading statements the price of New Era common stock was artificially inflated during the Class Period.

Before the disclosure of the adverse facts described above, certain insiders sold thousands of shares of New Era common stock to the unsuspecting investing public at artificially inflated prices and the Company completed several corporate acquisitions using its artificially inflated common stock as currency.

On July 6, 1999, Neon, in sharp contrast to previous assurances to analysts and to the marketplace of its stable financial condition, shocked the market by announcing an expected net loss to its revenues for the second quarter of 1999. Neon's common stock price fell dramatically after the Company's July 6, 1999 announcement.

The plaintiff seeks to recover damages on behalf of all purchasers of New Era common stock during the Class Period. He is represented by the law firm of Barrack, Rodos & Bacine, which has extensive experience in prosecuting investor class actions involving financial fraud. Barrack, Rodos & Bacine has prosecuted securities, antitrust and consumer class actions for over 20 years.

The firm has offices in Philadelphia, San Diego, New York, Boston and New Jersey and has been designated lead counsel by federal and state courts across the country in large, complex cases. For more information about Barrack, Rodos & Bacine, please visit their website at www.barrack.com.

If you are a member of the Class described above, you may, no later than September 5, 1999, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this case or your rights or interests, please immediately contact:

Maxine S. Goldman, Shareholder Relations Manager

Barrack, Rodos & Bacine, Counsel for Class Plaintiff

3300 Two Commerce Square

2001 Market Street

Philadelphia, PA 19103

800/417-7305 or 215/963-0600

fax number 888/417-7306 or 215/963-0838

e-mail at [e-mail]