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APPOINT TECHNOLOGIES ANNOUNCES PLAN TO DIVEST SUBSIDIARY; RELATED MANAGEMENT CHANGES

 ANAHEIM, Calif., Jan. 14 /PRNewswire/ -- Appoint Technologies Inc. (NASDAQ: APNT) ("ATI") announced today that it had entered into negotiations with its lenders and John B. Barrett for the divestiture of one of its operating subsidiaries, Appoint Inc. ("Appoint"). Based in Paso Robles, Calif., Appoint is engaged in the design, manufacture and marketing of input devices for personal computers.
 ATI was formed in April 1993 by the merger of Appoint into the former Standard Logic Inc. of Anaheim, by an exchange of the shares of Appoint for the shares of ATI. Since the merger, Appoint's performance has failed to meet management's expectations. Appoint has continued to sustain operating losses that could not be supported without additional equity financing. Over the past several months, the company has been unsuccessful in raising additional capital, and in early January the board of directors concluded that the shutdown or divestiture of Appoint was in the best interest of ATI's shareholders.
 Barrett, the founder of Appoint, has proposed a plan that, with the cooperation of ATI's and Appoint's lenders, will return control of Appoint to Barrett in exchange for a substantial portion of the shares issued by ATI to Barrett in the original merger transaction. The board of directors of ATI, in consultation with ATI's principal lender, the Renaissance Capital Group Inc. of Dallas, has authorized Barrett to proceed with the development and negotiation of the proposed transaction, subject to the approval of Renaissance and the board.
 On Jan. 13, 1994, Barrett resigned as vice chairman and secretary and as a director of ATI in order to proceed with the negotiation of his plan. Also on Jan. 13, Joseph C. Picken resigned as president and chief executive officer of ATI, and as president and a director of Appoint. E.W. Baumgardner, chairman of ATI, has assumed the additional titles of president and chief executive officer of ATI. Picken will continue to serve as a director and as chief financial officer of ATI until a replacement has been named.
 -0- 1/14/94
 /CONTACT: E.W. Baumgardner, chairman, Appoint Technologies, 714-632-9292/
 (APNT)


CO: Appoint Technologies Inc.; Appoint Inc. ST: California IN: CPR SU: PER

MF-JL -- LA014 -- 2186 01/14/94 17:08 EST
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Publication:PR Newswire
Date:Jan 14, 1994
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