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Non-Tech : The Source Information Mgmt Co.(SORC) -- Ignore unavailable to you. Want to Upgrade?

To: JanyBlueEyes who wrote (69)5/16/1998 10:09:00 AM
From: JanyBlueEyes  Read Replies (1) | Respond to of 121
ST. LOUIS--(BUSINESS WIRE)--May 15, 1998--The Source Information Management Company (NASDAQ:SORC) today announced the filing of a registration statement with the Securities and Exchange Commission in connection with an offering of 2,000,000 shares of common stock.

Of the 2,000,000 shares being offered, 1,500,000 are being offered by the Company and 500,000 shares are being offered by certain shareholders of the Company. The offering will be underwritten by Donald & Co. Securities, Inc. of New York, New York, and is expected to commence during the middle of June.

The proceeds of the offering will represent new financing and will be used to expand the Company's Advance Pay Program, to possibly acquire one or more businesses, and to develop new or enhanced products and services. In connection with this distribution of shares, certain shareholders will grant Donald & Co. the option to purchase up to an additional 300,000 shares of common stock to cover over-allotments, if any.

The Source is a leading provider of periodical information and related marketing services to hundreds of retail chains in the grocery, convenience, mass merchandise, and pharmacy industries. Their integrated software system is designed to efficiently and accurately monitor sales of high volume consumer products primarily to optimize sales incentive payments offered by manufacturers.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

Requests for a prospectus should be directed to W. Brian Rodgers at
11644 Lilburn Park Road, St. Louis, Missouri 63146, 314/995-9040.