CIS TECHNOLOGIES AND BANKERS TRUST FORM STRATEGIC ALLIANCE.TULSA, Okla. and NEW YORK--(BUSINESS WIRE)--Nov. 22, 1994--CIS Technologies, Inc. (NASDAQ/NM:CISI (company) CISI - A French software producer. ) and BT Holdings (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ), Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Bankers Trust The Bankers Trust is a historic American banking organisation that was acquired by Deutsche Bank in 1998. It was originally set up when banks could not perform trust company services. New York Corporation (NYSE NYSE See: New York Stock Exchange :BT), today jointly announced that they have reached an agreement to create a strategic alliance to pursue opportunities in cash management and data services in the health care industry. As part of the strategic alliance, Bankers Trust will acquire a minority interest in CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S Technologies consisting of $10 million in new common stock and new, non-voting, convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". with warrants. Philip D. Kurtz, chairman and chief executive officer of CIS Technologies, said, "We are pleased to have entered into this alliance with Bankers Trust which will enable our Company to take advantage of the many consolidation and growth opportunities in the dynamic health care sector. This transaction strengthens our Company's financial position and matches us with a partner which will help our Company to reach its full potential. We also believe this will enable us to expand our product line in cash management and data services." B.J. Kingdon, managing director and head of Bankers Trusts' Global Institutional Services Group, said, "This strategic alliance with CIS Technologies will enable Bankers Trust to expand its financial transaction processing business in the health care field. In addition to broadening the market for our current cash management services, Bankers Trust and CIS will explore jointly the development of products for the health care market that combine the claims processing and posting capabilities of CIS with the cash management services of Bankers Trust." Bankers Trust and CIS Technologies will also jointly pursue opportunities aimed at meeting the growing need in the health care industry for relative performance on costs and for other information of increasing importance to participants in the industry utilizing Bankers Trust's decision support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services capabilities and CIS' data base and market segment expertise. CIS Technologies, Inc. is a leading provider of automated products and services that help hospitals to process claims, manage data electronically, and increase hospital cash flow through a wide range of professional services. CIS' products and services are used by over 550 hospitals in 32 states, and CIS processes over 25 million claims totaling more than $50 billion. Bankers Trust New York Corporation is the nation's seventh largest banking company, with assets of approximately $108 billion. CONTACT: CIS Technologies, Tulsa
Richard A. Evans, 918/496-2451
or
Bankers Trust, New York
Tom Parisi, 212/454-1686
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