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 PROVO, Utah, Nov. 3 /PRNewswire/ -- Sage Analytics International Inc. (NASDAQ: SAII) reported today the following new contracts:
 Ministry of Defense in New Zealand has contracted with Sage to fail- safe the ministry's risk management program. The focus of this project will be to assure that the insurance coverage of ministry assets is adequate in the event of an unscheduled loss. This project is expected to begin on Nov. 15 and be completed by March 31, 1994.
 The Prince William County Schools in Manassas, Va., are continuing for another year a program that began back in 1992 using Sage. Prince William County is a leader in school-based management, and it is using Sage to help fail-safe quality education using these concepts.
 Springfield City Schools in Springfield, Ill., has contracted with Sage to provide support to a three-year change process. Initial funding for this project was obtained through local businesses who are directly impacted by the academic achievement of students in their local schools.
 The Cuyahoga Metropolitan Housing Authority (Section 8) in Cleveland has contracted with Sage to implement a quality improvement program based upon a previously conducted Sage Analysis. Early feedback from CMHA indicates a desire to extend the program throughout the entire agency.
 A project with the Workers Compensation Board in Alberta, Canada, has been awarded to Sage as follow-up to a previous project done for the board at the end of 1992.
 Sullivan/Luallin, a health care management services firm based in San Diego, has contracted with Sage to help fail-safe the merger of several health care providers located in Southern California.
 The total contract price for all of the above mentioned contracts is approximately $310,000.
 The company was recently notified by the NASD that it may not meet the minimum asset requirement to remain on the NASDAQ "small cap" system. As a result, Sage has been actively seeking to acquire or merge with another company to increase its asset base. Although management has recently been involved in preliminary merger discussions, no decisions to merge or any agreements have been reached. Management is hopeful that a suitable merger candidate can be found, but there can be no assurance that will be the case. Sage is also considering other alternatives to raise its asset and revenue base, including joint ventures and the sale of equity.
 Despite disappointing results for the third quarter, management is pleased to announce a modest profit during the month of September. The company realized a third quarter loss of $167,282 or $.03 loss per share as compared to income of $2,109 for the same period in 1992. Third quarter revenues are $164,303 as compared to revenues of $442,743 for the third quarter of 1992 -- representing a 63 percent reduction. The decline in revenues is due to the completion or scale-back of several significant contracts in Australia and the United States and the absence of new contracts to replace those that have been completed. Year-to- date revenues are $527,520 for the nine months ended Sept. 30, 1993, as compared to $1,707,297 as for the same period in 1992, representing a 69 percent decrease. The year-to-date net loss for the nine months ended Sept. 30, 1993, is $546,373 or 10 cents loss per share as compared to net income of $101,494 or earnings per share of 2 cents for the same period in 1992.
 Operating expenses during the third quarter were significantly less than the same quarter in 1992. Operating expenses for the third quarter of 1993 were $349,615 as compared to $439,111 for the third quarter of 1992 -- representing a 20 percent decrease. Year-to-date operating expenses for the nine months ended Sept. 30, 1993, are $1,120,952 as compared to $1,608,465 for the same period in 1992, representing a 30 percent decrease.
 Sage Analytics International Inc. is engaged in the commercial application of a form of decision support technology which incorporates proprietary methodology and software and is marketed to private industry and government agencies.
 Sage Analytics International Inc. Common Stock is traded under the NASDAQ symbol of SAII.
 -0- 11/3/93
 /CONTACT: Jon D. Stephens, president of Sage Analytics International, 801-374-8070/

CO: Sage Analytics International Inc. ST: Utah IN: CPR SU: ERN CON

LM-LS -- LA042 -- 0345 11/03/93 17:17 EST
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Publication:PR Newswire
Date:Nov 3, 1993

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