Exhibit 99
FOR IMMEDIATE RELEASE
Exigent International to Explore Strategic Alternatives
Melbourne, FL - November 8, 2000. Exigent International(R), Inc. (Nasdaq
SmallCap Market(R): XGNT; Chicago Stock Exchange: XNT) today announced that its
Board of Directors has authorized management to explore strategic alternatives
to enhance shareholder value. Exigent has retained CIBC World Markets Corp. as
its financial advisor to assist it in these efforts. B.R. "Bernie" Smedley,
Chairman and Chief Executive Officer said, "We believe our current share price
does not reflect the true value of our company, and the Board is exploring
options to enhance shareholder value. We are looking to CIBC World Markets Corp.
to work with our management team and Board of Directors to evaluate a range of
strategic alternatives including the possible sale of part or all of the company
assets."
Forward-Looking Statements
This press release contains forward looking information within the meaning
of the Private Securities Litigation Reform Act. Actual results may differ
materially from those projected in the forward looking statements. Risks
that could cause actual results to differ materially from those in the
forward looking statements include, but are not limited to, risks inherent
in the company's growth strategy, the inability of the company to execute
strategies designed to maximize its share price, and the uncertainty that
the company will be able to identify and attract a suitable strategic
partner. Additional information concerning these and other risks and
uncertainties related to the company are contained in the company's
Securities and Exchange filings. In light of these risks and uncertainties,
there can be no assurance that the results referred to in forward looking
statements made in this press release will in fact occur.
About Exigent International, Inc.
Exigent International, Inc., is a publicly-traded company formed in
December 1996, with its headquarters in Melbourne, Florida, near the Space
Coast. Exigent International subsidiaries include: Exigent Software
Technology, Inc., (ESTI) a leading provider of engineering services and
software products to the aerospace and defense industries; Exigent Digital
Telecom and Wireless Networks (EDT&WN) which provides leading-edge
technology services and products supporting distributed collaborative
applications, network resource management, and message-oriented middleware
products; and Exigent Solutions Group, (ESG), which provides a suite of
Information Technology (IT) services, including Oracle services, to
commercial and government customers. More information about Exigent
International is available at www.xgnt.com
