Cascade and Pindar Systems Announce Merger Intentions; Two Market Leaders Combine Forces to Provide Unparalleled e-Merchandising Solutions.

ACTON, Mass.--(BUSINESS WIRE)--Nov. 24, 1999--

Cascade Systems Inc., the leading provider of e-Merchandising solutions for delivering targeted promotions to Web, print and email, today announced that it has signed a Letter of Agreement to merge with Pindar Systems, a U.S. / UK based supplier of multi-channel product information management systems. Pindar has been described by the Seybold Report on Publishing Systems as "the solid leader in the market for comprehensive catalog publishing systems." The two privately held companies, who expect the transaction to be completed by the end of January, plan to combine their engineering, marketing, and financial resources.

E-merchandising represents an explosive market for the new millennium. The National Retail Federation and International Data Corporation forecasts sales in e-merchandising to grow from $2 billion in 2000 to more than $8 billion in 2003. Bob Angelo, president & CEO of Cascade Systems, believes the strong growth potential of e-merchandising bodes well for the pending merger of Cascade and Pindar. "We believe the merger of Cascade and Pindar Systems will result in the formation of a technology powerhouse and an undisputed industry solution leader. Historically, Cascade and Pindar have been competitors, but recently we have taken advantage of several opportunities to partner with them to our mutual benefit. Both companies have much more to offer our customers as a combined entity."

G. Andrew Pindar, Chairman of G. A. Pindar & Sons, the British-based parent company of Pindar, agrees noting the important role the new joint venture will play in the expanding e-merchandising marketplace, "We are about to take a ride on a tsunami-sized wave of e-commerce and e-merchandising. With the 'big one' already upon us, combining our respective resources in software and development will enable us to ride this wave and respond to the multi-channel demands of the new millennium."

Although Internet commerce continues to grow at a rapid pace with anticipated revenues of $84 billion by 2004, print catalogs remain a big business. The Direct Marketing Association estimates print catalog sales will grow from $93 billion in 1999 to more than $125 billion by 2004. Both companies recognize the importance of continuity in shared product information databases as the key to effective print and electronic merchandising in the next century.

About Cascade Systems, Inc.

Cascade Systems Inc. is the leading provider of e-Merchandising solutions which enable business to manage large product databases and utilize customer profile information to create targeted promotions across web, print, and email. Cascade's customers include: Circuit City, London Drugs, The Wall Street Journal, Saks, Inc., Quebecor, IKEA, Sothebys, The Los Angeles Times, CDW, Thomson Directories, Val-Pak Coupons, Viking Office Products, the Boston Globe and Associated Newspapers.

Headquartered in Acton, Massachusetts, Cascade has additional offices in Chicago, Los Angeles, and London. A privately held venture funded company, Cascade has experienced strong demand for its products and services during 1999, with three consecutive quarters of record revenue growth. The company recently received an additional $12.0 million in venture funding from a group which included Tudor Investment Corporation, Adobe Ventures and H & Q Venture Associates, LLC.

For more information call 978/795-7000, or visit the company Web site at http://www.cascadenet.com.

About Pindar Systems, Inc.

Pindar Systems is the leading provider of product information management systems for Internet and print promotions within the consumer and business to business cataloging marketplace. The company develops software for delivering targeted multi-channel promotions within a closed-loop marketing environment. Established in 1994 and privately held, Pindar Systems is based in Chicago and York UK and has resellers throughout Europe. Pindar Systems boasts the largest number of U.S. installations of any product information management software company. North American customers include Office Depot, W.W. Grainger, VWR Scientific, Henry Schein, and Lab Safety. European customers include Spicers, Oriflame, Fisher Scientific, Raja and Best Western.