Exhibit 99(1)
News From
TRIAD PARK, LLC
Contact: Stan Marquis
510 449-0606, ext. 6300
TRIAD PARK LLC BOARD RECOMMENDS ACCEPTING MERGER PROPOSAL
LIVERMORE, Calif., September 9, 1997 -- The Advisory Board of Triad
Park, LLC today announced it is recommending that the members of the
company approve a merger proposal from TPL Acquisition, LLC under
which all outstanding membership interests in Triad Park, LLC would
be exchanged for cash.
TPL Acquisition, LLC and the company have agreed that, subject to
shareholder approval, TPL Acquisition, LLC will acquire all
outstanding shares for $1.32 per share. TPL Acquisition, LLC, which
is affiliated with Richard C. Blum & Associates of San Francisco,
will merge into Triad Park, LLC and will become liable for all
obligations of Triad Park, LLC. The acquisition is expected to be
controlled by a recently formed real estate investment partnership
known as Westmark RCBA Associates, L.P. The partnership is a joint
venture of Los Angeles-based Westmark Realty Advisors L.L.C. (a
wholly-owned subsidiary of CB Commercial Real Estate Group, Inc.) and
San Francisco-based Richard C. Blum & Associates, L.P.
Triad Park, LLC was created in February 1997 upon the acquisition of
Triad Systems Corporation by Cooperative Computing, Inc., of Austin,
Texas. Shareholders of Triad System Corporation received one Triad
Park, LLC membership share for each share of Triad Systems
Corporation common stock. Triad Park, LLC's assets consist of
approximately 300 acres of property formerly owned by Triad Systems
Corporation and the company's 220,000-square-foot headquarters
facility. Triad Park, LLC also assumed approximately $20.7 million of
indebtedness previously secured by the spun-off real estate and was
formed to liquidate its real estate portfolio, with proceeds used to
pay expenses (including taxes), repay secured debt and distribute any
remaining proceeds to holders of Triad Park membership interests.
