Blue Chip Computerware Inc. announces acquisition.

FARMINGDALE, N.Y.--(BUSINESS WIRE)--Oct. 19, 1995--Blue Chip Computerware Inc. (NASDAQ:BCHP) announced Thursday that they have entered into an agreement to acquire the assets and operations of Street Glow Inc., a leading manufacturer and distributor of high quality, neon automotive accessories for a reported 100,000 shares of Blue Chip common stock.

Blue Chip will combine Street Glow's assets, customer base and impressive product line with KoolGlo Inc., Blue Chip's wholly owned automotive accessories division. The acquisition of Street Glow is expected to add approximately $1 million in annual revenues to KoolGlo and significantly increase KoolGlo's distribution network and product line.

Through the acquisition of this former competitor, which boasts a well known, "made in America" product line, Blue Chip expects KoolGlo will emerge as the leading manufacturer and distributor of neon automotive accessories in the U.S. while becoming an increasingly competitive force with other non-neon automotive accessories and neon-related product lines.

The acquisition of Street Glow Inc. comes at an opportune time for Blue Chip as KoolGlo and Blue Chip's Allied Voice Tech divisions prepare to exhibit at the much anticipated Specialty Equipment Manufacturers Association (SEMA) exposition in Las Vegas next week. Blue Chip plans to take full advantage of this opportunity to introduce several new products from Allied Voice Tech and the newly combined KoolGlo and Street Glow lines at this important industry buyer's event.

In a related matter, Blue Chip Computerware announced that previously disclosed purchase orders for various products from Allied Voice Tech have been modified to reflect a manufacturing delay due to increasing product demand. As a result of a postponement in the financing for increased manufacturing capacity, a key customer has rescinded a portion of its previous order. Accordingly, Allied has revised estimates to reflect delivery of approximately $4 million in product through Dec. 31, 1995. While this represents over a 50% reduction in previous estimates, it nonetheless reflects a near 100% increase in revenues for Allied from 1994.

Blue Chip Computerware Inc. is a diversified technology and consumer product company whose core businesses include retail computer hardware, software and services, as well as the manufacture and distribution of automotive after market products through their KoolGlo Industries Inc. subsidiary and the manufacture and distribution of voice technology consumer electronics through Allied Voice Tech subsidiary. Blue Chip also holds a significant position in two privately owned food service companies. Blue Chip's combined revenues for 1994 were $19.8 million.

CONTACT: Blue Chip Computerware Inc., Farmingdale

516/777-7130

or

Continental Capital & Equity Corp.

407/875-1110