Class Action Commenced by Kirby McInerney & Squire, LLP Against New Era of Networks, Inc.

NEW YORK--(BUSINESS WIRE)--July 12, 1999--

The following was released today by Kirby McInerney & Squire, LLP:

A class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of all purchasers of New Era of Networks, Inc ("New Era") (NASDAQ:NEON) securities between April 21, 1999 and July 6, 1999 (the "Class Period").

The Complaint asserts claims under the federal securities laws, including claims for violation of Section 10(b) and 20 (a) of the Securities Exchange Act of 1934 and Rule 10b-5 of the Securities Exchange Commission, by reason of the material misrepresentations and omissions by New Era and certain of its officers during the Class Period.

As a result of these misrepresentations and omissions, the price of New Era's common stock was artificially inflated throughout the Class Period. During the Class Period, certain Company insiders sold thousands of their own shares at artificially inflated prices. Following the disclosure of the true status of the Company's business, the price of New Era's common stock plummeted by approximately 56% from its closing price of $44.0625 per share on July 6, to close at $19.4375 per share on July 7.

Plaintiff seeks to recover losses suffered by investors who purchased New Era securities during the Class Period, excluding the defendants and their affiliates, and is represented by Kirby McInerney & Squire, LLP. Kirby McInerney has specialized in complex litigation, including securities and consumer class actions for decades. Kirby McInerney has repeatedly demonstrated their expertise in this field, and has been recognized by various courts which have appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling hundreds of millions of dollars, and the firm's achievements and quality of service have been chronicled in published decisions.

If you are a member of the Class described above, you may, not later than sixty days from July 7, 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 notice or your rights, please contact:

Jeffrey H. Squire, Esq.

Ira M. Press, Esq.

Jennifer Grissom, Paralegal 

KIRBY McINERNEY & SQUIRE, LLP

830 Third Avenue, 10th Floor

New York, New York 10022

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