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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Eprise Contact: Press Contact:
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Milt Alpern Kelly Murray/Dan Sher
Eprise Corporation PAN Communications, Inc.
508/661-5200 978/474-1900
[email protected] [email protected]
EPRISE CORPORATION ANNOUNCES STOCK REPURCHASE PROGRAM
FRAMINGHAM, MASS. -- DECEMBER 11, 2000 -- Eprise Corporation (NASDAQ: EPRS)
announced today that its board of directors has authorized a new share
repurchase program through which the company may repurchase up to $4 million in
shares of its common stock. All repurchases will be made in the open market. The
program is expected to be conducted from time to time over the next twelve
months, depending on market conditions.
"The Board has taken this action as a sign of confidence in the company's
future. The Board believes the company's third quarter earnings and recent 3.0
release of our industry leading content management solution make the company's
shares an attractive investment at current market prices, particularly where we
had over $70 million in cash and cash equivalents and almost no debt as of
September 30, 2000. Funding of Eprise's current business and development
activities will not be affected by the repurchase program," said Eprise
President and CEO Joseph Forgione. "Our repurchase program is intended to create
and deliver stockholder value."
The shares acquired will be held in treasury for future corporate use, including
purchases under the company's employee stock purchase plan and stock option
plans.
ABOUT EPRISE CORPORATION
Eprise Corporation (Nasdaq:EPRS) provides Strategic Content Management solutions
that enable businesses to gain competitive advantage. Its software solutions
encompass products and services that support the use of industry best practices
for managing the entire content life cycle. By integrating its products with
technologies from companies such as Microsoft, Inktomi, Net Perceptions and
Screaming Media, Eprise offers an even more robust environment, enabling
customers to improve Web site effectiveness and drive e-business success. With
headquarters located in Framingham, Mass., the company has expanded to include
regional offices across the United States, as well as in Canada, Germany, and
the United Kingdom.
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Certain matters discussed in this announcement may involve "forward-looking
statements" (as that term is used in the Private Securities Litigation Reform
Act of 1995) that involve risks and uncertainties, including risks of business
change, product acceptance and customer demand and growth management detailed
from time-to-time in Eprise Corporation's filings with the Securities and
Exchange Commission. Eprise Corporation draws the reader's attention to the
factors described in its final Prospectus dated March 24, 2000 and its Form 10Q
for the quarter ended September 30, 2000 filed on November 14, 2000 under the
heading "Risk Factors." Any such forward-looking statements speak only as of the
date such statements are made, and the company undertakes no obligation to
publicly release the results of any revision to these forward-looking statements
or otherwise update or supplement this announcement or the risk factors
referenced herein.
