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DATA BROADCASTING TO ACQUIRE CAPITAL MANAGEMENT SCIENCES

 NEW YORK, June 7 /PRNewswire/ -- Data Broadcasting Corporation (NASDAQ: DBCC) announced today that it had signed an agreement in principle to acquire Capital Management Sciences (CMS). The acquisition is subject to a definitive agreement between the two companies. CMS, a recognized leader in investment technology, develops innovate products for PC and Unix-based networked portfolio management systems. It is a leading provider of fixed income portfolio analytics for investment managers, banks, insurance companies, pension funds and brokerage firms.
 DBC will acquire CMS for cash and notes totaling $17.5 million and will additionally issue shares of common stock worth (at today's market price) up to $8 million, based on CMS earnings over the next three years.
 CMS will continue to be managed under a long-term agreement by its president and principal shareholder, James Kaplan, who will also join the DBC board. CMS shareholders and certain of its employees will also become substantial shareholders of DBC pursuant to the terms of the proposed transaction.
 Messrs. Allan Tessler and Alan Hirschfield, DBC's co-chief executives, stated: "The CMS acquisition is an extremely important transaction which will enable DBC to expand significantly the range of services it offers to its customer base. It further offers a unique opportunity for DBC to participate with a fast-growing company that has a leading position in the fixed income analytics area."
 Kaplan, chief executive of CMS, added, "I look forward to an alliance with DBC. DBC will provide an important platform for CMS's products and the financial strength to help fund our rapid growth."
 DBC expects that the transaction will be consummated within the next 90 days.
 Data Broadcasting Corporation is a leading provider of stock market quote services and other specialized market data vital to more than 20,000 clients worldwide. Data Broadcasting's main product lines include QuoTrek and Signal (used primarily by individual investors) and Shark (used by securities industry professionals).
 -0- 6/7/93
 /CONTACT: Amber Gordon of Data Broadcasting Corporation, 703-359-6236/
 (DBCC)


CO: Data Broadcasting Corporation; Capital Management Sciences ST: New York IN: CPR SU: TNM

MH-TW -- DC004 -- 5865 06/07/93 09:17 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
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