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INNODATA CORPORATION ANNOUNCES HIRING OF FINANCIAL CONSULTANTS FOR MERGER AND ACQUISITION SERVICES

BROOKLYN, N.Y., Feb. 24 /PRNewswire/ -- Innodata Corporation (Nasdaq-NNM: INOD) today announced it has entered into financial consulting agreements with three individuals.

The consultants are to assist the Company for a two year period primarily in merger and acquisition transactions and in developing financial strategies and plans. The Company has issued warrants to purchase an aggregate of 600,000 shares of the Company's common stock, at exercise prices ranging from $4.00 to $6.50 per share to the consultants. The warrants are exercisable in installments over the period beginning April 1995 and ending January 1997, after which they are exercisable in full. The warrants expire on December 31, 1997. The warrants contain demand and piggyback registration rights after the warrants first become exercisable.

INNODATA is a worldwide electronic publishing company that specializes in superior quality data conversion for CD-ROM and online database publishers around the globe. Services include all necessary steps for product development and data capturing: the highest accuracy data entry (99.995% +), OCR, SGML and custom coding, imaging and document management systems, indexing and abstracting, copyediting, typesetting, hypertext linking, and applications programming. The company also offers medical transcription services to healthcare providers through its Statline division.
 -0- 2/24/95


/CONTACT: Cindy Belmore, Investor Relations of Innodata Corporation, 718-855-0044, or fax, 718-522-9235/

(INOD)

CO: Innodata Corporation ST: New York IN: CPR SU: PER

DW-TM -- NY075 -- 0621 02/24/95 16:30 EST
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Copyright 1995 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 24, 1995
Words:235
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