Mustang Software files registrationstatement with Securities and Exchange Commission to sell 1 million shares of common stock

Business Wire, March 16, 1995

BAKERSFIELD, Calif.--(BUSINESS WIRE)--March 16, 1995--Mustang Software Inc. ("Mustang" or "the company"), announced that it plans to make an initial public offering of 1 million shares of its common stock and has filed a registration statement with the Securities and Exchange Commission to register these shares and 150,000 shares of common stock to be subject to an underwriters' over-allotment option.

The initial public offering price will be determined by negotiations between the company and the managing underwriter and it is currently anticipated that the initial public offering price will be between $5.00 and $6.00 per share. Cruttenden Roth Inc. will be the managing underwriter. It is expected that the proposed sale to the public will commence in early to mid-April 1995.

Mustang designs, develops, markets and supports software that permits computer users to communicate with each other on-line using standard phone lines, local area network (LAN) and wide area network (WAN) connections.

The company's products include the Wildcat! line of Bulletin Board Systems (BBS) software, the QmodemPro line of telecommunications software and the Off-Line Xpress series of electronic mail management software. All of the company's programs operate under DOS and most have companion versions for Microsoft's Windows.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

The name and address of the person from whom a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained are Cruttenden Roth Inc., 18301 Von Karman, Suite 100, Irvine, Calif. 92715, 714/757-5700.

CONTACT: Mustang Software

Rick Heming, 805/873-2500, Ext. 9000

805/873-2599 (fax)

rick.heming(at-sign)mustang.com (e-mail)