Hearing Date Scheduled for Review of Potential Nasdaq Delisting of Information Management Associates, Inc.

Business Editors

SHELTON, Conn.--(BUSINESS WIRE)--May 2, 2000

Information Management Associates, Inc. (NASDAQ: IMAAE) today reported the Company has been notified by Nasdaq that a hearing has been scheduled for May 18, 2000 to consider the Company's request for a review of the determination by Nasdaq to delist the Company's common stock from the Nasdaq National Market. The delisting will be stayed pending Nasdaq's decision.

The Company previously announced on April 20, 2000 that it had been notified by Nasdaq that the Company's common stock would be delisted at the opening of business on April 27, 2000 unless the Company filed its Form 10-K with the Securities and Exchange Commission by April 25, 2000. The Company requested a hearing to review the potential delisting.

About IMA 

IMA, a leader in Customer Relationship Management (CRM) products and services for over sixteen years, today provides market leading CRM/eCRM products, services, delivery channels, and pricing for bricks-and-clicks businesses. IMA products, services and business models are all designed to help companies create integrated solutions that enable interaction intensive organizations to help their customers shop, buy, and problem-solve through any interaction channel. IMA is dedicated to creating customer-centric products and services for CRM/eCRM that uniquely complete the full scope of front-office Demand Chain Management functions. Gartner Group ranks IMA as a leader in customer service and support systems and as a visionary in sales applications. Over 400 global organizations including Bose, Humana, ICT Group, Lloyds TSB, TXU, U.S. Cellular Corp., iSKY and Xerox depend on IMA products and services to help grow their business. IMA subsidiaries include Buyersedge.com inc. an open market bidding system that enables savvy online buyers to save time and money making purchases on high value, considered merchandise, and freefire inc., the eCRM industry's first and only marketplace for free-license, component-based software. IMA is headquartered in Shelton, Connecticut and has offices and representatives worldwide. Additional information about IMA's products, services and subsidiaries can be found on the World Wide Web at www.imaedge.com requested via email at [e-mail] or by calling 1-203-925-6800.

NOTE: IMA and EDGE are registered trademark of Information Management Associates, Inc. Buyersedge.com and freefire are trademarks of Information Management Associates, Inc. All other product and company names are trademarks of their respective companies.

Except for the historical information contained in this announcement, the matters discussed in this announcement are "forward-looking statements" (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission (the SEC). In particular, IMA draws the reader's attention to the "Risk Factors" stated in the Company's Registration Statement on Form S-1 dated July 30, 1997 and its accompanying Prospectus, the Company's Quarterly Reports on Form 10-Q dated August 14, 1997, November 14, 1997, May 15, 1998, August 14, 1998, November 14, 1998, May 17, 1999, August 16, 1999, and November 22, 1999 the Company's Annual Report on Form 10-K dated March 30, 1998 and March 31, 1999, as well as to the Company's periodic and current reports as they are filed with the SEC.