The Board of Directors of Acacia Research Elects Paul R. Ryan President and Chief Executive Officer

Business Wire, Feb 3, 1997

PASADENA, Calif.--(BUSINESS WIRE)--Feb. 3, 1997--The Board of Directors of Acacia Research Corporation (Symbol:ACRI) has elected Paul R. Ryan President and Chief Executive Officer of the company.

Mr. Ryan, who began his association with Acacia Research in 1994, was most recently Executive Vice President and Chief Investment Officer of the company. Prior to joining Acacia Research, Mr. Ryan was a General Partner of the American Health Care Fund, L.P. and has 20 years experience investing in public and private companies as well as providing strategic management to a number of technology companies. Mr. Ryan received his B.S. from Cornell University and majored in marketing and finance at the New York University Graduate School of Business.

"Acacia Research has grown significantly over the past year and Paul Ryan has been instrumental in achieving this growth," said R. Bruce Stewart, Chairman. "His ability to identify, manage, and build value have and will continue to benefit the company as we pursue our strategic business plans."

The Board of Directors also elected Kathryn King-Van Wie Chief Operating Officer. Ms. King-Van Wie, who joined Acacia Research in 1995 as Vice President, Operations, has more than ten years of marketing and operations experience, holding positions at a number of companies, including Capitol Records, ABC Entertainment, and CBS/Fox. Ms. King-Van Wie has demonstrated abilities in developing and implementing operation and marketing plans, including growth management, productivity improvements, and strategic planning with both start-up and established companies.

Acacia Research has acquired interests in four companies within the past fourteen months and has become the investment advisor to three additional private investment funds during this same period. These activities have generated a significant increase in net assets at a relatively low cost to the shareholders. "Acacia Research has been fortunate in acquiring equity interests in companies managed by some very talented individuals," said Mr. Stewart. "Our objective to seek out and assist people with ideas or experience to build companies with significant growth potential has been successful and our opportunities for future success will be enhanced with the knowledge, experience, and guidance of Mr. Ryan and Ms. King-Van Wie."

Both appointments were approved on January 29, 1997 and took effect immediately. -0-

Note to Editors: Acacia Research Corporation (ACRI) is a diversified capital management company with interests in several enterprises - Whitewing Labs, Inc. (direct marketing of nutritional supplements), MerkWerks Corporation (software development), Soundview Technologies Incorporated (V-chip technology), CombiMatrix Corporation (drug discovery), Greenwich Information Technologies LLC (video and audio-on-demand technology), and private investment advisory services.

CONTACT: Acacia Research Corporation, Pasadena

Kathryn King-Van Wie, 818/449-6431