Crossroads Systems Reports Distribution of Common Stock by Investor.Business Editors & High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--Sept. 25, 2002 Crossroads Systems Inc. (Nasdaq:CRDS CRDS Contribution pour Le Remboursement de la Dette Sociale (French: Social Debt Repayment Contribution) CRDS Cavity Ring-Down Spectroscopy CRDS Community Rehabilitation and Disability Studies ), a global provider of connectivity for storage networking solutions, today announced that Austin Ventures, an early investor in Crossroads Systems, has distributed 1 million shares of Crossroads common stock to limited and general partners, effective Sept. 25, 2002. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Austin Ventures, the distribution is being made based on contractual obligations under Austin Ventures' agreements with its partners. Following this distribution, Austin Ventures will hold approximately 2.7 million shares of Crossroads common stock. Austin Ventures has not made any determination as to the timing or amounts of any future distribution of Crossroads stock held by its funds. About Crossroads Systems Inc. With headquarters in Austin, Texas, Crossroads Systems (Nasdaq:CRDS) is a leading global provider for storage networking solutions. Crossroads' products are in solutions from leading companies such as Fujitsu-Siemens, Hewlett-Packard (which includes Compaq) and StorageTek, and are distributed through partners such as ARROW, Datalink and Tidal tidal /ti·dal/ (ti´d'l) ebbing and flowing like the waters of the oceans. tid·al adj. Resembling the tides; alternately rising and falling. Wire. Crossroads is a voting member of the Storage Networking Industry Association An association of producers and consumers of storage networking products, whose goal is to further storage networking technology and applications. The Storage Networking Industry Association, or SNIA (SNIA (Storage Networking Industry Association, San Francisco, CA, www.snia.org) An organization devoted to the advancement of mission critical storage systems. Founded in 1997, its goal is to determine the standards that must be developed to allow hosts and storage systems to interact via ). For more information about Crossroads Systems, please visit www.crossroads.com or call 800/643-7148. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "intend," "plan," "project," "will" and similar phrases as they relate to Crossroads are intended to identify such forward-looking statements. These statements reflect the current views and assumptions of Crossroads, and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: that the distribution or sale of substantial numbers of shares of stock by investors in Crossroads could place substantial selling pressure on Crossroads stock, resulting in volatility and/or rapid and substantial declines in its stock price, and that Crossroads' stock price could be volatile regardless of Crossroads' actual financial performance and the effect of its stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, as well as, other factors detailed in Crossroads' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Quarterly Reports on 10-Q. Crossroads expressly disclaims any obligation to release publicly any updates or revisions to the information contained in this press release or with respect to any future distribution of its stock by investors, or to update or revise any forward-looking statements to reflect any changes in expectations, or any change in events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or on which those statements are based, unless otherwise required by law. |
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