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GENERATION 5 ANNOUNCES NEW CEO - PUBLIC OFFERING - LEGAL DISPUTE

 GENERATION 5 ANNOUNCES NEW CEO - PUBLIC OFFERING - LEGAL DISPUTE
 DENVER, March 31 /PRNewswire/ -- Generation 5 Technology Inc., (G5) - (NASDAQ: GFIV), announced that Charles M. Powell, a director of Generation 5 since 1988 has been appointed to the position of chief executive officer. Powell recently left J. D. Edwards and Co. (JDE), (1991 revenues in excess of $120 million), where he served as director of International Operations and director of Amerasian Operations. During Powell's tenure at JDE, international revenues grew from $2 million in 1988 to over $25 million in 1991. Powell began his career as a certified public accountant with Price Waterhouse and Co. and subsequently occupied key management positions at Storage Technology and Columbine Systems. Powell commented on his new leadership role at G5 saying, "I am very excited to be expanding my involvement with G5 as we are about to implement our plans for taking the company to a new level. My first two priorities will be to secure additional financing and resolve the on-going legal dispute with Software Support Ltd.,...that should position us to successfully capitalize on the opportunities that we have both here and abroad," Powell continued.
 Generation 5 also announced that it has signed a letter of intent with a regional investment banking firm to initiate a second public offering of Generation 5 securities. Generation 5 intends to file within the next month a registration statement with the Securities and Exchange Commission covering a public offering of shares of common stock and common stock purchase warrants to raise approximately $2.5 million of gross proceeds. The offering will not commence unless and until the company has an effective registration statement under the Securities Act of 1933, and the offering will be made only by means of a prospectus meeting the requirements of the Act.
 Finally, Generation 5 also announced today that its continuing dispute over software and royalties with Software Support Ltd. (SSL) of Canada has recently escalated to a lawsuit and counter-suit filed in U.S. District Court of Denver. The dispute, first announced in a Form 8-K on April 10, 1991, centers around the royalty obligations of the two parties and the ownership and associated license and distribution rights to G5's primary software product. After a recent round of written exchanges by legal counsel, G5 was served with a complaint on March 2, 1992 by SSL alleging default by G5 and claiming to terminate the agreement and the associated license and distribution rights of G5 to the software. In this complaint, SSL asked for substantial monetary damages as well as injunctive relief. G5's answer and counterclaims filed on March 23, 1992 dispute both the facts and the legal grounds for SSL's termination and SSL's claims for relief. In addition, the counterclaims of G5 request certain damages from SSL in connection with SSL's obligations under the agreement, and the misuse of G5's trademarks. In addition, G5 has requested that SSL immediately cease using G5's registered trademarks.
 A publicly-held company, Generation 5 Technology is a pacesetter in the emerging fields of Automated Mapping (AM/FM), Geographic Information Systems (GIS), and Facilities Management (FM) software systems. The company distinguished itself by being the first to develop sophisticated, fully-topological computer mapping, facilities management, and GIS software that takes advantage of the industry- standard AutoCAD(R) computer graphics system. The Geo/SQL(R) GIS software allows low-cost desktop 386 and 486 PS/2s, and UNIX workstations to be linked with sophisticated database applications running on local area networks (LANS) and mainframe computers. The company's customers include Federal, state and local government, utilities, and major corporations, both in the United States and internationally.
 -0- 3/31/92
 NOTE TO EDITORS: Geo/SQL(R) and Generation 5 Technology are registered with the U.S. patent and trademark office by Generation 5 Technology Inc.; AutoCAD(R) is registered with the U.S. patent and trademark office by Autodesk Inc.
 /CONTACT: Rick Garfield of Generation 5 Technology, 303-427-0055/
 (GFIV) CO: Generation 5 Technologies Inc. ST: Colorado IN: CPR SU: PER OFR


BB -- DV004 -- 3545 03/31/92 16:02 EST
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Date:Mar 31, 1992
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