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Molloy Group Completes Private Financing.

PARSIPPANY, N.J.--(BUSINESS WIRE)--October 10, 1996--

Group Led by Wall Street Firm Unterberg, Harris Invests $1 Million

in Help Desk Software Technology Leader

Molloy Group, marketer of TOP Of MIND(R) Help Desk and a range of complementary customer support software featuring the unique TOP Of MIND Cognitive Processor(R), has closed a $1 million private placement with a group led by the New York based investment banking firm Unterberg Harris.

The financing, in which the investors received equity in the form of convertible preferred stock, will help to fund specific expansion programs and provide working capital for Molloy Group. The Company expects to close an additional round of private financing during the first quarter of 1997.

"Equity capital will fuel our growth in several areas of operations," says Bruce Molloy, Molloy Group's CEO. "We'll capitalize on our unique strengths in the customer support software market - which is growing explosively - and we'll assert leadership in new areas, most importantly the opportunities now being created by the rapid adoption of Intranets. We're releasing two major products in the next quarter: TOP Of MIND Enterprise Version 5.0, and the Internet Knowledge Kiosk(TM). This funding will help drive the marketing of those products."

"We believe that Molloy is positioned to use its knowledge based technology to capitalize on a significant business opportunity in the help desk and other related markets," adds Thomas I. Unterberg, of Unterberg Harris. "We're delighted to be involved."

Molloy Group is dedicated to excellence in knowledge-based products and services for help desk and customer service organizations, and their customers. Its flagship product, TOP Of MIND(R) Help Desk, is a full-featured customer support application built around the Cognitive Processor - widely recognized as the simplest, most reliable and most cost-effective problem resolution tool available. TOP Of MIND has been the recipient of awards such as Network VAR's Integrator's Choice Award and LAN Magazine's Product of the Year. Molloy Group is now bringing its unique technology to the biggest, most challenging "enterprise" environment of all: The World Wide Web. The Company markets its products worldwide, directly and through select resellers. Through its Professional Services operation, Molloy Group delivers a range of consulting, integration and education services for a comprehensive help desk offering.

For more information on Molloy Group products and services, contact Molloy Group at Four Century Drive, Parsippany, NJ 07054; telephone 201 540-1212; fax 201 292-9407; e-mail info@molloy.com. Visit Molloy Group on the World Wide Web - http://www.molloy.com.

CONTACT: Molloy Group

Bruce Molloy, CEO

Peter Dorfman, Director of Marketing

(201) 540-1212

or

Corinne de Palma Public Relations

Corinne de Palma

(212) 799-6088
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Publication:Business Wire
Date:Oct 10, 1996
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