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ICOT ANNOUNCES MANAGEMENT CHANGES AND ANTICIPATED FOURTH QUARTER CHARGE

 SAN JOSE, Calif., May 25 /PRNewswire/ -- ICOT Corp. (NASDAQ: ICOT) today announced management changes and an anticipated fourth quarter charge.
 ICOT Corp. announced today the appointment of Aamer Latif as its president and chief executive officer replacing Joel M. Becker who has resigned for personal reasons. According to Arnold Silverman, chairman of the board, "Mr. Latif has been with ICOT since 1980 and has for the past 4 years served as ICOT's vice president, Engineering." Silverman went on to say, "Mr. Latif is highly qualified for his new responsibilities having distinguished himself in managing ICOT's business relationship with IBM Corp., ICOT's largest OEM customer." Because of the company's previously announced intention to concentrate on its OEM business and strategic end users, Kenn Dahl, vice president, corporate development, and John Arnold, vice president and chief financial officer also resigned.
 ICOT further announced its intention to expense approximately $2,000,000 in its fourth fiscal quarter ending July 31, 1993, for writing off software associated with its PC Connectivity product line previously capitalized in accordance the FASB 86 and for employee termination expenses.
 ICOT Corp. is a provider of network connectivity systems for the OEM market and strategic end users. ICOT's products include local area network gateways, client-based workstation software and network data communications interfaces. The products are sold principally in the United States and Western Europe from its corporate headquarters in San Jose.
 -0- 5/25/93
 /CONTACT: Aamer Latif, president of ICOT, 408-433-3300/
 (ICOT)


CO: ICOT Corp. ST: California IN: CPR SU:

TM-GT -- SJ001 -- 2011 05/25/93 09:03 EDT
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Publication:PR Newswire
Date:May 25, 1993
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