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Oriole Systems To Trade On Pink Sheets; Retains Consultant To Assist With Regulatory Matters.

Business Editors


Oriole Systems Inc. (CDNX:OOL.) today announced that it has received from the U.S. Securities and Exchange Commission ("SEC") a Rule 12g3-2(b) exemption number which allows the shares of Oriole to be traded by U.S. investors through the U.S. brokerage system.

The exemption number is issued, upon application and submission of required documentation to companies whose securities trade on exchanges outside of the United States.

The Company further advises that it had previously requested Public Securities Inc., of Spokane, Washington, a broker-dealer registered with the National Association of Securities Dealers, Inc. ("NASD"), to apply, on its behalf, for a listing on the Pink Sheets. The application was submitted on January 18, 2001. As a result, Oriole will commence trading on the Pink Sheets starting Tuesday, January 30, 2001 under the trading symbol ORLSF. Public Securities Inc., as market maker, may be contacted for trading information through Bill Ross at 1800 926 3093.

Pink Sheets LLC (formerly the National Quotation Bureau) maintains a website at which contains quotations for all listed companies.

The Company also announced that it has assigned Joel Pensley, of Renegade Capital Corp. of Boston, as a consultant, to advise as to the retention of attorneys, market makers, U.S. public relations firms and other experts and to assist with compliance under U.S. federal and state regulations.

Al Gerenser, President of Oriole said "These actions will provide the company with much greater transparency in the U.S. as well as make it easier and more straightforward for U.S. investors, who hold almost 13% of Oriole shares, to participate in the growth of the Company."

Oriole Systems Inc. is engaged in the design, development and support of e-business and Internet software through its proprietary product Emart Design SW, a suite of software products that perform e-business transactions and will eventually allow for all business functions in an enterprise to work together. Oriole provides its Internet software solutions focused on e-business with its partners including: IBM, MAGIC Software and PortalPrise Inc.

The information contained in this press release contains "forward-looking statements" within the meaning of the U.S. Federal Securities Laws. Such statements are based on the current expectations of the management of Oriole Systems Inc. only, and actual results may differ materially. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this news release.
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Publication:Business Wire
Date:Jan 30, 2001
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