* To: slug-external@YUKON.SCRC.Symbolics.COM * Subject: SYMBOLICS ANNOUNCES SALE OF ITS GRAPHICS BUSINESS * From: groberts@YUKON.SCRC.Symbolics.COM, groberts@YUKON.SCRC.Symbolics.COM * Date: Thu, 30 Jan 1992 15:06-0500 * Cc: little@YUKON.SCRC.Symbolics.COM, groberts@YUKON.SCRC.Symbolics.COM, saiid@YUKON.SCRC.Symbolics.COM, tarpey@YUKON.SCRC.Symbolics.COM * Sender: Little@YUKON.SCRC.Symbolics.COM NEWS RELEASE FOR IMMEDIATE RELEASE SYMBOLICS ANNOUNCES SALE OF ITS GRAPHICS BUSINESS TO NICHIMEN GRAPHICS CORPORATION --Symbolics Retains Exclusive Distribution Rights in North America-- BURLINGTON, Mass., January 30, 1992 -- Symbolics, Inc. (NASDAQ:SMBX) today announced that it has reached an agreement with Nichimen Graphics Corporation ("NGC") effective January 29, 1992, to transfer to NGC all assets, products and associated rights related to Symbolics' graphics business for one half million dollars. Through the agreement, NGC, a subsidiary of Nichimen Corporation, will own worldwide distribution rights of Symbolics' 2D and 3D computer graphics systems. Symbolics also announced that is has been named by NGC to serve as the exclusive distributor of the graphics products in North America and that the Company will continue to provide service and support to graphics customers in North America. "NGC is committed to making a long-term investment in the development efforts of the graphics products, meaning that Symbolics' graphics customers' investments in systems and software will remain viable. Since we will continue to sell and support the products in North America, our graphics customers will receive a consistent, high level of service," said Symbolics President and Chief Executive Officer Kenneth J. Tarpey. Tarpey also stated that the capital infusion resulting from the agreement will aid the Company in financing its future business plans. "The sale of our graphics business enables us to focus more fully on our object-oriented programming solutions and consulting business, which have historically been our primary sources of revenue and are demonstrating renewed strength," said Tarpey. In conjunction with the sale of its graphics business, Symbolics announced it will record an approximate three million dollar, one-time charge, which will be reflected in the Company's operating results for the fiscal quarter ending December 29, 1991. Symbolics, Inc., headquartered in Burlington, Mass., is the leading provider of symbolic processing technology used in sophisticated applications, including on-line decision support, expert systems, scheduling and planning and computer-added mathematical computing. The Company provides software and hardware tools and consulting services to some of the world's largest corporations, devising applications solutions to mission-critical business problems in the telecommunications, manufacturing, utilities and transportation industries. Nichimen Corporation, a major Japanese trading company, will distribute the graphics products through its subsidiary, Nichimen Graphics, and is the leader of a Japanese consortium involved in this agreement.