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 RICHMOND, British Columbia, Aug. 24 /PRNewswire/ -- OCS Technologies Corp. (Toronto, Vancouver: OCS) today announced revenues for the first quarter of fiscal year 1994, which ended July 31, 1993, increased by 199 percent to a record of $7,281,096 from the $2,434,790 reported for the same period in fiscal 1993. The company recorded an operating profit of $648,491 for the quarter, compared to net loss of $624,792 in the first quarter last year.
 Subsequent Events
 May 5, 1993 -- The share purchase agreement relating to the acquisition of Atkisson and Associates Inc. of Bakersfield, Calif., has now been signed. Under the final terms of the agreement, OCS acquired all of the shares of Atkisson and Associates Inc. for a purchase price of $2,500,000 (U.S.) payable $1,000,000 (U.S.) in cash and $500,000 (U.S.) in OCS shares at closing, $500,000 (U.S.) in cash 12 months from closing and $500,000 (U.S.) in cash 24 months from closing. Atkisson and Associates is the largest supplier of integrated criminal justice information systems in North America with five county installations. These systems link law enforcement agencies, the prosecutor's office, jails, and court systems to better communicate timely information. Revenues for its latest fiscal year ending Sept. 30, 1992, were $4.8 million (CDN) and its backlog of signed contracts amounts to $13 million (CDN).
 May 7, 1993 -- The agreement to purchase the assets of Diversified Computer Products Inc. of Tampa, Fla., has now been signed. Under the final terms of the agreement, OCS acquired all of the public safety assets of DCP for a purchase price of $887,000 (U.S.) payable $487,000 (U.S.) in cash and $400,000 (U.S.) in OCS shares at closing. In addition, DCP can receive additional OCS shares over a five-year period based on total revenues from the sale of licenses for DCP software in excess of $887,000 (U.S.).
 July 13, 1993 -- The company signed a letter of intent to purchase the assets of the Public Safety Division of GTE Government Information Services Inc. of Tampa, a major supplier of computer-aided dispatch and records management systems. With this acquisition, OCS will increase its share of the public safety market in North America. Under the terms of the letter of intent, OCS will acquire for cash, all physical assets utilized in the GTE Public Safety Division, all ownership rights to all software products, all vendor contracts, all customer contracts, including software licenses and maintenance agreements, all accounts receivable and specified accounts payable as of the date of closing. GTE has in excess of 150 installed sites throughout North America.
 Aug. 5, 1993 -- Signed a contract with the INTEGRIS Systems Integration Unit of Bull HN Information Systems Inc. for the supply of a state-wide computer aided dispatch system for the state of Florida. The contract, which has a 10-year term, initially automates the dispatch system of the Florida Highway Patrol based in Miami as the pilot installation. Following completion of the pilot installation, the additional state agencies of the Florida Marine Patrol, Florida Department of Law Enforcement, Florida Game and Fish Commission and the Department of Alcohol, Beverage and Tobacco will be installed. The initial contract with INTEGRIS as the prime contractor amounts to approximately $2,000,000 (U.S.) of which OCS's portion is $759,000 (U.S.). The computer-aided dispatch and automatic vehicle location systems being installed are being supplied by OCS's Tampa Division, recently acquired from Diversified Computer Products Inc.
 Also on Aug. 5, 1993, the company completed the filing of a prospectus in the provinces of Ontario, British Columbia, Manitoba and Nova Scotia to qualify the issuance of 2,760,000 common shares and 1,380,000 share purchase warrants to be issued on the exercise of like amount of special warrants. Each share purchase warrant is exercisable into one common share of OCS at a price of $5.00 per share until Aug. 31, 1994. The special warrants were originally sold by way of private placement that closed on March 22, 1993.
 Aug. 17, 1993 -- Reached an agreement to sell its geographic information subsidiary, Essential Planning Systems Ltd. (EPS). EPS owns 100 percent of the shares of the two GIS operating subsidiaries, Pamap Technologies Corp. and Digital Resource Systems Ltd. Under the terms of the agreement, OCS will sell 100 percent of the outstanding shares of EPS to G. Barnwell & Associates Ltd. for $275,982, effective April 30, 1993. As part of the agreement, OCS will sell all of the units of OCS IV Limited Partnership and the one outstanding share of 414033 British Columbia Ltd., the general partner, in exchange for 400,000 shares of EPS at a price of $0.27 per share amounting to $108,000. In addition, OCS will also receive royalties for a period of 10 years commencing May 1, 1993, based on annual gross revenues of EPS and the annual cash flow; 5 percent for the first year, increasing by 1 percent per year for years two through five and 10 percent for years six through 10. As a result of the sales of EPS and OCS IV Limited Partnership, OCS will record a loss on discontinued operations of $5,395,620 at April 30, 1993. This sale will allow OCS to focus its managerial and financial resources on its public safety and justice information systems business.
 Financial Highlights for the First Quarter (000s)
 Quarter Ended Quarter Ended
 July 31, 1993 July 31, 1992
 Revenues 7,281 2,435
 Net earnings (loss) 648 (625)
 Net earning (loss) for period $0.06 ($0.10)
 This information has been provided to facilitate year-to-year comparison of operating results.
 Consolidated Statements of Operation
 Three Months Ended July 31, 1993
 (000s, Canadian dollars unaudited)
 1993 1992
 Revenues $7,281 $2,435
 Cost of sales 4,169 1,639
 Total 3,112 796
 Administration 977 511
 Sales and marketing 1,151 563
 Software development costs 41 202
 Total 2,169 1,276
 Income (loss) before
 depreciation and amortization 943 (480)
 Depreciation and amortization 295 303
 Earnings (loss) before
 income taxes 648 (783)
 Provision for income taxes 0 0
 Earnings (loss) from continued
 operations 648 (783)
 Gain (loss) from
 discontinued operations --- 159
 Total 648 (625)
 Net earnings (loss) per
 common share ($0.06) ($0.10)
 Shares issued and
 outstanding 10,426,112 6,504,029
 Weighted average shares
 issued and outstanding 10,416,112 6,298,696
 OCS Technologies is headquartered in Richmond. The company's primary business is the supply of public safety and justice information systems and services. OCS's software products and services are used by public safety agencies, including law enforcement, fire and emergency health services, municipal and county courts, prosecutor's pffice and in the administration of jails, prisons, parole and probation agencies. OCS helps these important public sector agencies do their job better for everyone.
 -0- 8/24/93
 /CONTACT: Raymond W.G. Foucault, chairman and CEO of OCS Technologies, 604-273-8045/

CO: OCS Technologies Corp. ST: British Columbia IN: CPR SU: ERN

MF-JL -- LA010 -- 5358 08/24/93 09:33 EDT
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Date:Aug 24, 1993

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