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PROMIS CONTINUES TO SHOP CROSS BORDER

 TORONTO, Feb. 22 /PRNewswire/ -- Promis Systems Corporation Ltd. today announced that for the second time in as many months it has gone south of the border to buy a company. Promis announced that it has signed a Letter of Intent to purchase the business of Manufacturing Software, Inc. (MSI) of East Windsor, Conn. The acquisition is expected to close on or about April 30, 1993. MSI's product, MADEMA(TM), is considered a leading-edge technology in the finite scheduling marketplace, and is used by manufacturers to plan the entire production process in less time and with greater efficiency than can de done by present methods.
 According to Elliot Wassarman, Promis' president and chief executive officer, "MADEMA technology has been developed over several years by Massachusetts Institute of Technology under sponsorship of Computer Aided Manufacturing, International (CAM-i), a consortium of worldwide manufacturing companies." Using techniques from Operations Research and Simulation, MADEMA represents an improved method for time-phased sequencing of tasks and allocating resources in the production process. MSI has the exclusive license to this base technology and has spent the past 4 years extending it into the MADEMA product. "This acquisition will offer Promis customers a highly advanced planning and optimization solution as an integrated part of their manufacturing decision-making and decision support system, and an important addition to Promis' suite of software. Combined with our proposed acquisition of Palette(R) and its product line, we are aggressively positioning PROMIS(R) to be the most functional and fully integrated manufacturing execution system in the world," Wassarman added.
 Wilbur Mann, president of MSI said, "Manufacturing leaders are recognizing the advantages of integrated systems solutions and the need for mission-critical applications to compete in today's global business environment; MADEMA was developed for the specific purpose of expanding the capacity for quality decision-making and scheduling."
 Promis has agreed to pay a combination of cash and common shares worth US$1 million for the MSI business. The transaction is subject to the receipt of all necessary regulatory approvals.
 The MSI announcement comes on the heels of Promis' announcement in December 1992, that it has reached an agreement in principle to acquire the business of Palette Systems Inc. of Nashua, N.H., for cash and common shares valued at US$11 million. Palette is recognized as the acknowledged industry leader in the market for computer integrated Quality Assurance documentation management systems. The company's software product is targeted to manufacturing segments where Quality Assurance is paramount (e.g. electronics, chemicals), or Regulatory Compliance is government mandated, particularly where mistakes can threaten public safety (e.g. pharmaceuticals, aerospace, medical devices, food & beverage). That acquisition is now scheduled to close in early March 1993.
 Promis Systems Corporation Ltd. is a predominant supplier of plant floor management software and manufacturing execution systems to the world's leading manufacturers. Currently, more than 100 PROMIS software modules are installed in 17 countries at over 120 leading manufacturing sites. Promis helps businesses solve manufacturing challenges including time to market, quality, regulatory compliance, competitiveness, productivity and customer service. The company is headquartered in Toronto, Canada with sales and marketing headquartered in San Jose, Calif. Promis has 12 sales and support locations throughout North America, Europe and Asia. The company's shares trade on the Toronto Stock Exchange under the symbol PSW.
 -0- 2/22/93
 /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: Elliot Wassarman, president and chief executive officer of Promis Systems Corp. Ltd., 416-960-0960/
 (PSW)


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

PS-OS -- NY041 -- 8915 02/22/93 11:18 EST
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Publication:PR Newswire
Date:Feb 22, 1993
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