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BARRISTER REPORTS RESTRUCTURING

 BARRISTER REPORTS RESTRUCTURING
 BUFFALO, N.Y., April 1 /PRNewswire/ -- Barrister Information


Systems Corporation (AMEX: BIS) announced that on March 31, it restructured its debt and equities and received additional working capital as part of a major refinancing.
 The company's lender, Manufacturers and Traders Trust Company ("M&T Bank") sold its secured debt and securities holdings to BIS Partners, L.P., a limited partnership composed of private investors. BIS Partners L.P. also provided the company with a working capital loan of $500,000.
 As a result of the restructuring, the company's debt was reduced from a total of $4.5 million to $3 million which will be repaid over a six-year period. In addition, 1,760 shares of 8 percent Cumulative Preferred C Stock were issued in the transaction. As part of the restructuring M&T Bank received 120,000 shares of common stock.
 The company's President, Henry P. Semmelhack stated: "The investment by BIS Partners, L.P. has made a major positive contribution to the future success of the company. The debt restructuring, additional working capital and new equity substantially improve the balance sheet of the company. Over the past few years, management has worked diligently to downsize the company and its expense structure to enable it to operate profitably at the lower level of revenues and lower margins occurring in today's marketplace. This transaction contributes to the overall strategic plan of the company to operate more efficiently. Going forward, the restructuring will reduce interest expenses and will improve cash flow. The additional working capital will be of great assistance to the company as it expands its service business and prepares to introduce its new ALFMS software product in the months ahead."
 After the transaction, the company has outstanding 2,468,130 shares of common stock, 1,300 shares of 12 percent Preferred A Stock convertible into 650,000 shares of common stock and 1,760 shares of 8 percent Cumulative Preferred C Stock.
 -0- 4/1/92
 /CONTACT: Mark C. Donadio, general counsel of Barrister Information Systems Corporation, 716-845-5010/
 (BIS) CO: Barrister Information Systems Corporation ST: New York IN: SU: RCN


BR -- CL013 -- 3954 04/01/92 14:37 EST
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Publication:PR Newswire
Date:Apr 1, 1992
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