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STATE OF THE ART INC. ANNOUNCES STOCK REPURCHASE PLAN

 STATE OF THE ART INC. ANNOUNCES STOCK REPURCHASE PLAN
 IRVINE, Calif., July 22 /PRNewswire/ -- Accounting software


developer State Of The Art Inc. (NASDAQ: SOTA) announced today that its board of directors has approved a program authorizing the company to repurchase shares of the company's outstanding common stock. The shares may be purchased from time-to-time in the open market or through privately negotiated transactions at prices that the company's management deems appropriate.
 Management stated that it believes its stock is un Samuels, chairman, president and chief executive officer, said, "The board of directors believes that repurchasing our own stock is a good investment and a good use of the company's available funds."
 The number of shares to be repurchased, if any, and the price or prices at which such repurchases might be made, while subject to certain restrictions, is not specified by the terms of the program and is left to the business judgment of the company's management. The company has not made any estimate or projection of the aggregate amount of company funds, if any, that might be used for the repurchase of its common stock. Under the terms of the board's authorization, the program may be terminated at any time.
 Founded in 1981, State Of The Art develops and markets high-end accounting software for microcomputers. The company's product line M-A-S 90 EVOLUTION/2, can be integrated into a comprehensive accounting solution for virtually any size or type of business and is available in all three industry standard operating environments: single-user DOS, DOS network and UNIX. The company's Authorized Resellers and Software Consultants, located throughout the United States and Canada, are comprised of more than 4,900 public accounting firms and 700 professional value-added resellers (VARs).
 The company was recently ranked No. 7 out of "The 200 Best Small Companies in America" by Forbes, and BusinessWeek ranked it No. 16 among the nation's "Top 100 Best Small Growth Companies."
 The company's stock is traded on the NASDAQ National Market System under the symbol "SOTA."
 -0- 7/22/92
 /CONTACT: Joseph R. Armstrong, CFO of State of The Art, 714-753-1222/
 (SOTA) CO: State Of The Art Inc. ST: California IN: CPR SU:


BP-EH -- LA003 -- 1733 07/22/92 09:35 EDT
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Publication:PR Newswire
Date:Jul 22, 1992
Words:370
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