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Applix Announces $5 Million Stock Repurchase PlanWestboro, MA, April 20, 1999 -- Applix, Inc. (NASDAQ:APLX) announced today its Board of Directors has authorized the repurchase of up to $5 million of the Company's outstanding common stock. The Company currently has approximately 10.5 million shares outstanding at a market price of $4.50 per share based on yesterday's closing price. These shares will be purchased on the open market from time to time as market and business conditions warrant or in private transactions. "Based on current market prices, we believe that our stock is undervalued at this time and that a repurchase plan is a good investment of the Company's funds," said Jit Saxena, Chairman and Chief Executive Officer. About Applix, Inc.Applix, Inc. (NASDAQ:APLX), headquartered in Westboro, Mass., develops, markets and supports web-based, front office business solutions, which allow organizations to improve decision-making and corporate productivity. The Front Office Business Solutions include the Applix iCustomer.Advantage suite of thin-client Customer Relationship Management (CRM) and real-time Business Intelligence applications: Applix iEnterprise, Applix iHelpDesk and Applix iTM1. In addition to its Front Office Business Solutions, Applix also provides a set of Decision Support applications, consisting of Applixware and Applix Anyware products. The Company's products are available on a variety of software platforms, including Windows, Windows NT, UNIX and Linux environments. More information can be found at www.applix.com and linux.applixware.com. Notes to InvestorsThis press release contains certain forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. Specifically, comments related to the demand for, revenue from and acceptance of the Company's products and the Company's position in the markets, may be considered forward-looking and subject to a number of risks and uncertainties, including but not limited to: the rate of growth in market demand for the products; the acceptance of the Company's products; intense competitive conditions; rapid technological change; frequent new product introductions and evolving domestic and international standards which may render existing products and services obsolete. Refer to the Form 10-K for the year ended 1997 for a list of factors as discussed under "Risk Factors ". All trademarks, registered trademarks, and service marks are property of their respective owners. |
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