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INCONTEXT ANNOUNCES PROFIT FOR FIRST YEAR OF OPERATIONS

 TORONTO, June 11 /PRNewswire/ -- InContext Systems Inc. (VSE: ISI) announced its financial results for the year ending March 31, 1993. On the basis of first sales of its InContext(TM) Structured Document Processor in the last quarter, InContext registered an after-tax profit of $33,079 on sales of $810,623. InContext President, Robert Arn, commented on the results, "This is a key transition point for the company. The commencement of commercial sales marks our move from a development stage enterprise to an operating organization which will increasingly be marketing driven. We see real movement in the defense and aerospace contractor sector both in the U.S. and Canada and other vertical markets such as automotive and pharmaceutical. The pressure of the recession appears to have forced companies to accelerate restructuring plans and the adoption of more efficient information technologies such as SGML-based structured document processing. As well there is a growing general awareness in the popular press of the benefits of this technology which promises a transition to a much broader mass market on the heels of the vertical market takeoff. I can't think of a better time to be introducing a new product. The company will be investing heavily in marketing and channel development in the coming year, but management believes that it can achieve sustainable profitability and a foundation for continuing rapid growth in the coming year." In line with the transition to operating status, the company has ceased capitalizing development costs on the InContext product, which will henceforth be fully expensed as incurred. The results also include the commencement of amortization of previously capitalized development cost.
 The company also announced several changes to its board of directors. Thomas F. Casey resigned as a director effective March 30, 1993. Casey is chairman of Audre Recognition Inc. with which InContext recently signed a Value Added Reseller Agreement. Casey noted that the close business relations between the companies assured his continued involvement with InContext. He will continue to serve the company as a consultant on special projects. Dr. Philip Lapp joined the board. Lapp, educated at the University of Toronto and the Massachusetts Institute of Technology where he completed his doctorate and served as a Research Associate, is an eminent and influential figure in the aerospace industry, the engineering profession and public policy in Canada. As well as serving as senior vice president and director of Spar Aerospace Limited and director of MacDonald Dettwiler and Associates, he has served as president of the Canadian Council of Professional Engineers and the Canadian Academy of Engineering and chairman of the York University Development Corporation and the Institute for Space and Terrestrial Sciences. He is the author of numerous public policy reports and studies. Among numerous recognitions, he was awarded an honorary doctorate by McMaster University.
 InContext Corporation specializes in enterprise-wide structured document processing systems. Its product line includes the InContext Structured Document Processor and the WorkSMART(TM) Workflow Management System. The InContext Structured Document Processor is designed to bring the benefits of ISO SGML structured document processing to a wide range of users without the difficulty and expense of mastering complex SGML publishing systems. It can be used as a stand-alone processor or as a component of a complete publishing system where it provides an efficient method of authoring, manipulating and editing information. Its interactions are designed to be consistent with existing Windows word processing programs and other common business software so as to allow access to its advanced features in a completely user friendly manner.
 The WorkSMART Workflow Management System, winner of the prestigious Seybold '93 Award for Excellence, is designed to manage the flow of millions of pages of information in hundreds of sites using thousands of workstations. It uses ISO SGML and HyTime open standards for information exchange, to modol not only document data but also inter- document linkages and enterprise information flows. It is the only workflow and document management system currently available which is totally based on open non-proprietary information standards. As such it can guarantee to users that their information assets will not become frozen in outmoded proprietary data formats.
 -0- 6/11/93
 /CONTACT: Robert Arn of InContext Corporation, 416-922-0087/
 (ISI)


CO: InContext Systems Inc. ST: Ontario IN: CPR SU: ERN

AR -- CL004 -- 0991 06/11/93 10:10 EST
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Date:Jun 11, 1993
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