<PAGE>
EXHIBIT 99.1
PRESS RELEASE OF META GROUP, INC.
Tuesday, September 19, 2000, 2:00 p.m. Eastern Time
--------------------------------------------------------------------------------
208 Harbor Drive, P.O. Box 120061, Stamford, CT 06912-0061 o metagroup.com o
(800) 945-META o Fax: (203) 359-8066
Contact: Ben Cesare Karen Griffiths
META Group Inc. The Financial Relations Board Inc.
(203) 705-6553 (212) 455-0913
[email protected]
FOR IMMEDIATE RELEASE
META GROUP ANNOUNCES RESIGNATION OF CFO
AND
ESTABLISHMENT OF NEW $25 MILLION LOAN FACILITY
STAMFORD, Conn. (September 19, 2000) -- META Group Inc. (Nasdaq:
METG), a leading information technology (IT) research and consulting firm, today
announced the resignation of Bernard Denoyer, the company's Sr. Vice President
of Finance, Chief Financial Officer, and Treasurer. Denoyer, who is leaving to
pursue other opportunities, will continue to serve as a consultant to META Group
President and Chief Executive Officer Dale Kutnick. "Bernard joined META Group
in 1994 and was part of the management team in the company's formative years,
including being instrumental in META Group's initial public offering in 1995. We
wish him all the best in his new endeavors" said Kutnick. The Board of Directors
has appointed Robert Toole, Senior Vice President of International Operations,
as acting CFO. A formal search for a permanent replacement is underway.
In addition, META Group announced today that the company established a
$25 million, one-year senior revolving credit facility with The Bank of New
York, which upon expiration would convert into a five-year term loan. Interest
is payable at the rate of (i) LIBOR plus 1.5% or (ii) the higher of the Prime
Rate or the Federal Funds Rate plus .5%. The facility is collateralized by the
company's marketable securities.
Robert Toole has been a member of META Group's Executive Committee
since early this year and since May has been working closely with the finance
and administrative staff to improve the company's operating procedures. Prior to
joining META Group in 1997, Toole was a consultant with Hewitt Associates LLC, a
management consulting firm specializing in human resources. He received a B.S.
from the United States Military Academy at West Point and served as an infantry
officer in the United States Army. Toole also has an M.B.A. in finance from New
York University.
<PAGE>
"Over the last two years, Rob played a significant role in improving
and integrating our international operations," said Kutnick. "I have the utmost
confidence that he will meet with equal success in his new interim position."
ABOUT META GROUP
META Group helps companies make better information technology (IT)
decisions by providing research and analyst consultation and consulting relevant
to their specific business needs. Offering advisory services, strategic
consulting, and research reports that span the full spectrum of IT, META Group
addresses the latest technologies, industry trends, and business challenges.
With more than 2,500 client organizations worldwide, META Group differentiates
itself from other information providers through its commitment to highly
personal service (enabling "analysis in context"), bottom-line answers, and
objectivity. For details, connect with metagroup.com.
STATEMENTS ABOVE THAT ARE NOT HISTORICAL FACTS MAY BE CONSIDERED FORWARD-LOOKING
STATEMENTS THAT INVOLVE RISKS AND UNCERTAINTIES. ACTUAL RESULTS COULD DIFFER
MATERIALLY AS A RESULT OF VARIOUS FACTORS, INCLUDING THE LEVEL AND TIMING OF
SUBSCRIPTION RENEWALS TO RESEARCH AND ADVISORY SERVICES; THE LEVEL AND TIMING OF
CONTRACTED STRATEGIC CONSULTING BILLING; THE INTEGRATION OF NEW BUSINESSES INTO
THE OPERATIONS OF THE COMPANY; THE TIMING OF PRODUCTION AND DELIVERY OF
PUBLISHED RESEARCH PRODUCTS SOLD BY THE COMPANY; THE MIX OF DOMESTIC VERSUS
INTERNATIONAL BUSINESS; THE TIMING OF THE DEVELOPMENT, INTRODUCTION, MARKETING,
AND MARKET ACCEPTANCE OF NEW PRODUCTS AND SERVICES; THE TIMING OF THE HIRING OF
RESEARCH ANALYSTS AND CONSULTANTS; THE TIMING AND EXECUTION OF THE COMPANY'S
STRATEGIC PLANS; CHANGES IN THE SPENDING PATTERNS OF THE COMPANY'S TARGET
CLIENTS; CHANGES IN THE MARKET DEMAND FOR IT RESEARCH AND ANALYSIS AND
COMPETITIVE CONDITIONS IN THE INDUSTRY; AND OTHER RISKS AND UNCERTAINTIES
DETAILED FROM TIME TO TIME IN THE COMPANY'S FILINGS WITH THE SECURITIES AND
EXCHANGE COMMISSION.
