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EXHIBIT 99.1
NEWS RELEASE
Contact:
Susan M. Johnson
[EPIQ LOGO] Manager, Investor Relations
Telephone 913-621-9500
Web Site:
http://www.epiqsystems.com
EPIQ SYSTEMS, INC. COMPLETES PRIVATE PLACEMENT OF 900,000 SHARES
KANSAS CITY, KS, DECEMBER 29, 2000 -- EPIQ Systems, Inc. (NASDAQ - EPIQ) today
announced it completed a private placement of 900,000 common shares with
institutional investors at an offering price of $15 per share. The company
intends to use the net proceeds of this placement to accelerate new product
development, further expand sales and marketing, provide flexibility for
potential acquisitions, repay its working capital line of credit and for general
corporate purposes. A.G.Edwards & Sons, Inc. served as financial advisor and
placement agent for the company in connection with this transaction.
Tom W. Olofson, chairman and chief executive officer, and Christopher E.
Olofson, president and chief operating officer, said, "EPIQ Systems has a strong
track record for achieving solid, profitable financial performance and
increasing shareholder value. The capital raised from this transaction will
enable us to take advantage of exciting opportunities in the e-commerce
financial services and bankruptcy management markets." EPIQ Systems, Inc.
develops, markets and licenses proprietary software products and provides
support services for e-Workflow, e-Banking and e-Commerce that are directed to a
variety of markets including financial services and bankruptcy management.
NOTE ON FORWARD-LOOKING STATEMENTS: This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
including those relating to the possible or assumed future results of operations
and financial condition of the Company. Because those statements are subject to
a number of uncertainties and risks, actual results may differ materially from
those expressed or implied by the forward-looking statements. Important factors
concerning these risks are discussed from time to time in the company's filings
with the Securities and Exchange Commission. In addition, there may be other
factors not included in the Company's Securities and Exchange Commission filings
that may cause actual results to differ materially from any forward-looking
statements. The company undertakes no obligation to update any forward-looking
statements contained herein to reflect future events or developments.
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