FOR IMMEDIATE RELEASE September 18, 1998
Contact: Ted Prince Roger Kuhn Hal Morrow
INSCI Corp INSCI Corp INSCI Corp
(508)870-4015 (508) 870-4014 (508) 870-4320
tprince@insci.com rkuhn@insci.com hmorrow@insci.com
Company Reports Addition to Board of Directors
JOHN A. LOPIANO ELECTED TO INSCI CORP
BOARD OF DIRECTORS
Westborough, MA - September 18, 1998 . INSCI Corp (Nasdaq: INSI) today announced that John A. Lopiano, a Xerox Corporation Senior Vice President and President of the Production Systems Group, has been elected to the INSCI board of directors. Lopiano also serves as a board member of Interleaf, Inc. and NeoMedia Technologies, Inc., and is a trustee at the Rochester Institute of Technology. INSCI and Xerox are strategic partners, and INSCI is one of the seven global sponsors of Xerox DocuWorld worldwide conferences and events.
Lopiano has been with Xerox for eight years and President of the Production Systems Group since 1995. The Production Systems Group at Xerox consists of two businesses: Printing Systems for centralized computer environments and Document Production Systems for publishing and low volume commercial printing. Lopiano has focused on the transition of Xerox from a product to a systems company. In this capacity, he sponsors and chairs the New Document Alliance, a consortium of fifteen industry leaders in document printing, publishing, network and Internet-based technologies.
Prior to Xerox, he was with IBM Corporation for twenty-five years where he held various field, manufacturing industry marketing, product development and document image market development positions.
"We are very pleased with Johns election to our board," stated Dr. Ted Prince, Chairman and CEO of INSCI. "John has deep experience in the document management industry which he can bring to the Company. We believe that Johns knowledge can help us be a better partner to Xerox and that his insight and direction will not only enhance our strategic initiatives but continue to build on our strong partner alliance. His background complements the strong blend of skills on INSCIs board."
"I am excited to be joining INSCIs board," said Lopiano. "Over the last several years, I have become very familiar with their technology, distribution and partner alliance initiatives. I believe that with these initiatives - including the expansion into worldwide distribution channels and the incorporation of Internet-based printing, electronic commerce and enterprise resource planning technologies - INSCI is exceptionally well-positioned for significant future success."
On June 30, 1998, INSCI concluded its most successful first fiscal quarter ever, reporting record revenues and income for the quarter.
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INSCI Corp is a proven leader in delivering an electronic document repository with integrated Internet, imaging, workflow, print-on-demand, electronic distribution and archive (COLD) software for the enterprise level, high volume production market. INSCIs software products enable customers to improve their services through electronic access to documents (e.g. invoices, statements, reports, etc.); provide financial savings through elimination of paper and microfiche; and provide the foundation for the digital document "back office" for electronic commerce applications. The Company licenses its products to over 500 customers worldwide, in healthcare, insurance, banking and financial services, and various other industries. The Companys products are sold in over 100 countries through the INSCI direct sales organization and its marketing partnerships (Unisys, Xerox, Moore, and others). For more information about INSCI Corp, visit its home page on the Internet at http://www.insci.com.
The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, demand for products and services, development of markets for the Companys products and services and other risks identified in the Companys SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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