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PROMIS ANNOUNCES EXERCISE OF GREEN SHOE OPTION

 TORONTO, Jan. 5 /PRNewswire/ -- Promis Systems Corporation Ltd. (TSE: PSW), the world's second largest supplier of manufacturing execution and plant floor management software, announced today that Midland Walwyn Capital Inc., Gordon Capital Corporation and Wood Gundy Inc. have exercised their previously granted Green Shoe Option thereby acquiring 237,100 common shares of Promis for total aggregate proceeds of $1,778,250. This option was previously granted by Promis in connection with its initial public offering which was completed on Nov. 5, 1992 and results in a total aggregate proceeds to Promis of $18,378,250 from the IPO.
 Last week Promis announced it has signed a letter of intent to acquire Palette Systems Inc., a Nashua, New Hampshire company for an undisclosed amount of common stock and cash. Palette is recognized as the market leader in document management and quality assurance management for computer integrated manufacturing execution systems.
 Currently more than 1000 PROMIS software modules are installed at over 100 leading manufacturing sites in 17 countries. PROMIS software helps businesses solve manufacturing challenges including time to market, quality assurance and control, regulatory compliance, competitiveness, productivity and customer service. The company is headquartered in Toronto, with sales and marketing headquartered in San Jose, Calif., and has 12 sales and support locations throughout North America, Europe and Asia.
 PROMIS is a registered trademark of Promis Systems Corporation Ltd.
 -0- 1/5/93
 /NOTE TO EDITORS: When referring to the company, please use Promis Systems Corporation Ltd. or Promis (initial cap only). When referring to the company's product, please use PROMIS in all caps./
 /CONTACT: Gordon Wilde, vice president, finance & chief financial officer, 416-960-0960, or Sue Sweeney, marketing director, 408-441-9090, both of Promis Systems Corporation Ltd./


CO: Promis Systems Corporation Ltd. ST: Ontario IN: CPR SU:

TM-LD -- NY004 -- 1592 01/05/93 09:45 EST
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Publication:PR Newswire
Date:Jan 5, 1993
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