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Citadel Technology Announces Majority Approval for All Ballot Items Proposed At Annual Shareholder Meeting.


DALLAS--(BUSINESS WIRE)--Sept. 22, 1998--

CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  Forecasts Record Revenues and Profitability

for Current Fiscal Year

Citadel Technology, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
: CITN) announced today that the two items endorsed by the Board of Directors and presented on the ballot to the shareholders at its Annual Meeting received an overwhelming majority of votes in favor of adoption of all measures proposed. The two ballot issues included the re-election of all current members of the Board of Directors and ratification of the selection of Grant Thornton LLP This article or section is written like an .
Please help [ rewrite this article] from a neutral point of view.
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 as the Company's independent auditors for the fiscal year ending February 28, 1999.

In addressing the attendees Steve Solomon, President and CEO, of Citadel Technology, Inc. made several comments regarding the Company's plans for the future. Mr. Solomon said, "With our new management team in place, we are more capable and committed to deliver profitability for this fiscal year ending February 28, 1999. Customer demand is picking up strongly as our third and fourth quarters will progressively indicate. Mr Solomon continued, "This past year was highlighted by a number of alliances with recognized industry leaders who have publicly endorsed and recommended our products, including: Microsoft (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
: MSFT MSFT Microsoft (stock symbol)
MSFT Movimento Sociale Fiamma Tricolore (Italy)
MSFT Multi-Stage Fitness Test
MSFT Master of Science in Family Therapy
MSFT Macalester Students for Fair Trade
), Compaq Computer (NYSE NYSE

See: New York Stock Exchange
: CPQ CPQ Compaq
CPQ Conseil du Patronat du Québec (Canada)
CPQ Configure-Price-Quote
CPQ Conseil de Presse du Québec (Québec Press Council, Canada)
CPQ Companion Parrot Quarterly
), IOMEGA (NYSE: IOM IOM

See: Index and Option Market
) and Metamor's software division Millennium (NASDAQ: MMWW MMWW Most Massive Woman Wins (play) ). Each unique alliance with these industry leaders has given the Company additional channels of distribution and increased market penetration. Our plans for both internal product development and external development through our Metamor affiliation, which will include our release of `single sign on' security, are all part of our business plan for building a strong profitable company and returning value to our shareholders."

Mr. Solomon closed the meeting by defining a clear company vision. He said, "It is our mission to become the most innovative supplier of affordable network security and protection software products for network servers and PCs."

Citadel Technology Inc. is a developer and marketer of computer software products including security and management utilities for networks and personal computers. The Company's products are designed to secure and manage personal computers (PCs) and local area networks (LANs) and enable network administrators to more efficiently manage the networks. Company products are designed to reduce client costs, improve the accuracy of clients' information, maintain the operation of the network, secure the network from fraud or unauthorized use, and generally enable the administrator to devote more time to improving service to the network rather than focusing on operational details.

For more information on Citadel Technology products, visit the Company's homepage at http://www.citadel.com. For information on purchasing products, contact the Company directly by writing or calling: Citadel Technology, 3811 Turtle Creek Blvd., Ste. 600, Dallas, TX 75219; phone 214.520.9292, fax 214.520.9293. For media or investor relations contact: The Investor Relations Group at 212.664.8489.

The above statements are not strictly historical facts and include forward looking statements that involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements could differ materially as a result of, among other things, the following: integration of acquired technology and companies, transition of selling and distribution methods, the availability of capital on terms acceptable to the Company, general economic conditions, competition, the market for the network software products, software development costs and possible future litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
, as well as the risks and uncertainties discussed in the Company's public reports and filings and public statements.
COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Sep 22, 1998
Words:566
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