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CAPRI CORP. AND CIMNET SYSTEMS ANNOUNCE MERGER

 CAPRI CORP. AND CIMNET SYSTEMS ANNOUNCE MERGER
 MINNEAPOLIS, Sept. 15 /PRNewswire/ -- Capri Corp. of Minneapolis and


Cimnet Systems, Inc., of Chicago, announced today that they have merged. The merger completed the acquisition by Capri of all of the stock of Cimnet in exchange for 9.5 million shares of Capri common stock. Capri Corp.'s stock and warrants are traded on the Minneapolis/St. Paul over- the-counter market. Cimnet's board of directors, together with John Kim of Capri, comprise Capri's new board of directors.
 Cimnet Systems, Inc., formed in October 1988, is in the business of developing, marketing and supporting computer software systems. "Paradigm(TM)," the company's principal product, is a state-of-the-art Computer Integrated Manufacturing (CIM) system designed specifically for the job shop manufacturing environment. With a growing international client base, the company has targeted Paradigm for the worldwide printed circuit manufacturing industry. Mehul J. Dave', president of the combined companies, stated "We intend to expand into other industry markets on a worldwide basis in the very near future."
 Capri was formed in 1991 as a vehicle to raise capital to acquire one or more business enterprises. With the merger, Capri has outstanding approximately 13.5 million shares of common stock and warrants to purchase 4.2 million shares of common stock. Thomas F. Leahy, former president of Capri, said "We believe that Cimnet's current software is the most comprehensive and user-friendly package of its type. We are pleased that our stockholders will be able to participate in this exciting company."
 Dave' added that "This merger of our organizations is expected to provide us with the resources to capitalize on the client base we have developed in the last three years by continuing to pursue excellence in our products and services. As a public company, we plan to achieve growth through new product development and expansion into other markets with a goal of becoming a major software and systems supplier to the worldwide job shop manufacturing marketplace."
 CIMNET SYSTEMS, INC.
 Consolidated Summary Income Statement
 Years Ended
 6/30/92 6/30/91 6/30/90
 Net sales $3,180,280 $2,644,128 $625,923
 Pre-tax income 334,280 432,958 48,308
 Income taxes 297,450 170,110 10,318
 Net income $36,830 $262,848 $37,990
 -0- 9/15/92
 /CONTACT: Mehul J. Dave', president of the combined companies, 708-325-6780/ CO: Capri Corp.; Cimnet Systems, Inc. ST: Minnesota IN: CPR SU: TNM


DS -- MN013 -- 9843 09/15/92 17:28 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
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