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NETWORK IMAGING IN AGREEMENT TO ACQUIRE OPTIX SA FOR $39 MILLION IN STOCK

 RESTON, Va., March 17 /PRNewswire/ -- Network Imaging Corporation (NIC) (NASDAQ: IMGX; Boston Stock Exchange: IGX) entered into an agreement in principle to acquire Optix SA, a $40 million in revenue document imaging and optical storage technology company headquartered in Paris.
 Under terms of the agreement, Network Imaging will purchase Optix SA for NIC common stock valued at $39 million. The transaction will be structured so that NIC may account for the purchase of Optix SA using the pooling-of-interest method.
 In a separate agreement, Network Imaging signed a letter of intent with Altus Finance SA to raise a minimum of $10 million in a financing which NIC expects to be concluded this summer.
 Optix SA, which has offices throughout Europe including Paris, Toulouse, London and Stuttgart, conducts its business operations through two subsidiaries: Dorotech France SA and ATG Gigadisc France SA. For the 12 month period ended March 31, 1992, Optix SA had consolidated revenue of $40 million and earnings of $2.5 million after inter-company adjustments.
 Dorotech France SA is a leading developer of document imaging and optical disk storage software in Europe. For the 12 month period ended March 31, 1992, Dorotech had revenue of approximately $20 million and earnings of $2.7 million. Dorotech's customers include: France Telecom, AT&T, General Electric, French Post Office, la Societe Generale, GEC Alsthom, Aerospatiale, Peugeot, Thomson, Fiat, C.E.R.N., Bosch Siemens, the European Space Agency and British Petroleum.
 ATG Gigadisc France SA is a leading developer of 12 in. optical disk storage products in Europe and manufactures 12 in. optical disks and optical storage devices in Toulouse, France. For the 12 month period ended March 31, 1992, ATG had revenue of $22 million and earnings of $1.0 million. ATG's customers include major corporations, banks, insurance companies and financial institutions worldwide.
 On a combined pro forma basis, which includes the proposed acquisitions of Optix SA and Microsouth, Inc. (previously announced on Feb. 25, 1993), Network Imaging estimates that its revenue for the fiscal year ended Dec. 31, 1992 will be $60 million. This estimate may be subject to adjustment pending audits of Optix, Dorotech and ATG for calendar 1992. This would make Network Imaging one of the largest providers of document imaging and optical storage technology in the world.
 Robert M. Sterling, Jr., chairman of Network Imaging, said "The acquisition of Optix SA will allow Network Imaging to achieve its goal of becoming the worldwide leader in document imaging and optical storage technology over the next two years." Robert P. Bernardi, president and CEO of Network Imaging, said "The combined companies of Network Imaging and Optix SA will create a powerhouse in the document imaging and optical storage market worldwide. We have the leading edge imaging technology and now worldwide market distribution necessary to create the dominant document imaging and optical storage company in the 1990s."
 Network Imaging Corporation designs, integrates and markets document imaging systems and optical storage products. NIC's flagship product, ImageXchange(TM), provides businesses with an automated method of electronically processing, storing and retrieving large quantities of documents such as insurance forms, credit card receipts, checks and legal records. NIC's other flagship product, the SPANServer(TM), provides a complete plug-and-play optical disk storage solution for virtually all network products, including UNIX-based and Novell systems.
 Optix SA, though its subsidiaries, Dorotech France SA and ATG Gigadisc France SA, designs and integrates document imaging systems and optical storage products in Europe. Dorotech designs and develops document imaging and optical storage software under UNIX. Dorotech's products include: Dorodisc, Dorofile, Dorodoc, Dorokey, Dorospace and Dorosave. ATG designs and manufactures 12 in. optical disks and optical storage devices. Its optical storage products are distributed both directly and through a network of specialized resellers.
 The agreement between NIC and Optix SA is subject to the preparation of a definitive acquisition agreement, approval of the definitive agreement by the companies' respective boards of directors, NIC shareholder approval to increase its authorized shares, and approval from appropriate government authorities.
 -0- 3/17/93
 /CONTACT: Robert P. Bernardi, president of Network Imaging, 703-478-2260, or Thomas Redington of Redington, Inc., 203-222-7399 or 212-926-1733, for Network Imaging/
 (IMGX)


CO: Network Imaging Corporation; Optix SA ST: Virginia IN: CPR SU: TNM

LR-PS -- NY027 -- 6980 03/17/93 11:02 EST
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Date:Mar 17, 1993
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