Computer Language Research, Inc. Announces the Acquisition of the Assets of the Omega Fiduciary Tax Systems Business from Price Waterhouse LLP.

CARROLLTON, Texas--(BUSINESS WIRE)--July 8, 1997--Computer Language Research, Inc. (Nasdaq/NM:CLRI), announced the acquisition of the assets of the Omega Tax Systems (Omega) business from Price Waterhouse LLP.

Omega licenses fiduciary tax return software to bank trust tax departments. Some of the country's largest bank trust departments use Omega to manage, calculate and print tax returns resulting from the trust accounts entrusted to banks by wealthy individuals.

Omega will be added to CLR's current Fast-Tax bank business group, which licenses similar products to bank trust tax departments under the trade names TrustEase, SmartBridge and Express. The company paid an undisclosed amount of cash and assumed certain deferred payment obligations and entered into consulting and noncompete agreements with the former developers of Omega, which will result in additional payments over the next five years. This acquisition is expected to have an immaterial effect on earnings over the next six quarters and should produce positive earnings after 1998.

Chuck Cappiccille, the group vice president of Fast-Tax's bank business, stated, "With the acquisition of Omega, Fast-Tax now provides a broader range of software options to our clients, including Omega's mainframe and PC database products. The Omega product family directly meets the special compliance, tracking and reporting requirements of bank trust tax departments. Now, our customers can look to CLR/Fast-Tax to supply software and services that meet most, if not all, of their on-site and remote service automation needs. Also, we are especially excited about adding the talented Omega employees to our group. As a result, Omega's clients can look forward to the same service and support they depended upon in the past to serve their trust customers."

Computer Language Research, Inc., is headquartered in Carrollton, Texas, and maintains sales and support facilities throughout the United States. The company provides tax and accounting software and information services to accounting firms, banks, corporations, and partnerships under the trade names ACE and Fast-Tax. The company's wholly owned subsidiary, Rent Roll, Inc., develops and markets apartment housing software and information services to large property management firms and owners of multifamily apartment communities under various trade names.

"Safe Harbor" Statement under Private Securities Litigation 

Reform Act of 1995

The company's 1997 outlook and all other statements in this release other than historical facts are forward-looking statements that involve risks and uncertainties and are subject to change at any time. The company derives its forward-looking statements from its operating budgets and forecasts, which are based upon detailed assumptions about many important factors such as product demand, market conditions, technological developments and competitive activities. While the company believes that its assumptions are reasonable, it cautions that there are inherent difficulties in predicting the impact of certain factors, especially those affecting the timing and magnitude of software sales and the performance of recently acquired businesses, which could cause actual results to differ materially from predicted results.

CONTACT: Computer Language Research, Carrollton

Robert H. Dilworth, 972/250-8679