Corporate Management Solutions, Inc. Offers FREE FAS Statement 123 Seminars in Conjunction with KPMG Peat Marwick LLP.

SHELTON, Conn.--(BUSINESS WIRE)--Aug. 15, 1997--Corporate Management Solutions, Inc., the leading provider of software designed to automate record keeping functions for the stock option administrator and the corporate secretary, is offering free seminars for finance professionals looking to understand the principal requirements of the Financial Accounting Standards (FAS) Statement 123. The half-day seminar will address implementation requirements and significant issues related to FAS 123 while demonstrating how calculations and valuations can easily be accomplished with CMS's Express Options for Windows(TM). This software solution, which automates the record-keeping, financial reporting and communications functions of the stock option administrator, comes fully integrated with the Black-Scholes, Binomial and Minimum Value fair pricing models.

The seminar will be offered in five major cities throughout the end of the year: Boston on September 19th, Minneapolis on September 30th, San Jose on October 16th, Chicago on November 7th and Cleveland on December 11th. For more information or to register, please call [phone].

HIGHLIGHTS

This seminar is designed to address the questions and concerns regarding the accounting rules for stock option plans. Although most companies have completed their first year of implementing FAS 123, there are still inquiries regarding its implementation and disclosure in financial statements.

The seminar's keynote presentation will be delivered by Mr. Timothy Wing, manager of corporate transactions (Chicago office) and a leading expert at KPMG Peat Marwick on many of the important issues surrounding FAS 123. He will address the requirements stipulated by the ruling in three stages: determining option value, allocating option value to compensation expense over the service life of the optionee and presentation of the information in financial statements. Significant issues that have ar e the release of FAS 123 and insight on possible future issues will also be addressed.

ABOUT CMS 

Corporate Management Solutions, Inc. ("CMS") develops, markets and supports the Express suite of software solutions designed to automate record keeping functions for the stock option administrator and the corporate secretary. With over 1700 customers worldwide, our client/server solutions combine the organization's industry expertise and extensive knowledge of equity-based compensation. CMS extends its technological superiority by offering the leading Web-based solution that empowers optionees diaries to access select information directly from their desktops. For more information, visit our web site at www.cmsoptions.com or call our Connecticut headquarters at [phone] or California sales office at [phone]. -0-

Express Options for Windows is a registered trademark of Corporate Management Solutions, Inc. All other names should be considered trademarks of their respective companies.

CONTACT: Corporate Management Solutions, Inc.

Jeanne Leso, 203/944-7300

[e-mail]