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ENGINEERING ANIMATION, INC., ANNOUNCES INITIAL PUBLIC OFFERING.

AMES, Iowa--(BUSINESS WIRE)-- Feb. 28, 1996-- Engineering Animation, Inc. (EAI), today announced the initial public offering of 2,290,000 shares of its Common Stock at a price of $18 per share for a total offering of $41,220,000. Of the total offering, 1,825,000 shares were sold by the Company and the balance was sold by the estate of a non-management shareholder. The Company's stock is traded on the NASDAQ National Market under the symbol "EAII." The managing underwriters for the offering are J.P. Morgan Securities Inc. and Cowen & Company.

Engineering Animation, Inc. develops, produces and sells three-dimensional (3D) computer animation products that address visualization, animation and graphics needs of its customers in commercial markets. EAI offers three interrelated product lines: custom animation products, which are custom 3D computer-generated animations for the litigation, biomedical and scientific markets; interactive software products, which are educational 3D interactive software titles on CD-ROM for both academic and consumer markets; and animation software tools, which are 3D animation software tools on UNIX-based workstations. EAI's animation software tools include VisLab, a suite of software programs that provide high-speed 3D integrated visualization solutions for CAD/CAE markets; and VisFly, a high performance engineering visualization tool that allows interactive real time viewing of complex CAD designs.

The Company plans to use proceeds from the offering to repay debt and for general corporate purposes, including product development, sales and marketing initiatives, and computer and equipment purchases. Engineering Animation, Inc., is headquartered at 2625 North Loop Drive, Ames, Iowa 50010; Phone: 515/296-9908; Internet e-mail address: EAII@eai.com; World Wide Web home page: http://www.eai.com.

CONTACT: Lana Rushing

Public Relations, EAI

515/296-6699

or

Laura Scorpiniti Edens

Scorpiniti Consulting

408/426-2855

or

Jamie Wade

Vice President and General Counsel, EAI

515/296-9908
COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Feb 28, 1996
Words:300
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