Peachtree Software Files Registration Statement

Business Wire, Dec 18, 1998

ROSELAND, N.J.--(BUSINESS WIRE)--Dec. 18, 1998--Peachtree Software, Inc. a wholly-owned subsidiary of Automatic Data Processing, Inc., filed a registration statement today with the Securities and Exchange Commission as part of a proposed initial public offering of its common stock. Peachtree is a leading provider of financial and accounting software for small business.

A registration statement relating to these shares has been filed with the Securities and Exchange Commission but has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the shares in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. A preliminary prospectus, when available, may be obtained from Lehman Brothers Inc., 3 World Financial Center, New York, New York 10285 or Salomon Smith Barney Inc., 388 Greenwich Street, New York, New York 10013.

ADP, with over $4.5 billion in revenue and over 425,000 clients, is one of the largest independent computing services firms in the world.

This release contains "forward-looking statements" based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ from those expressed. Factors that could cause differences include: ADP's success in obtaining, retaining and selling additional services to clients; the pricing of products and services; overall economic trends, including interest rate and foreign currency trends; impact of Year 2000; stock market activity; auto sales and related industry changes; employment levels; changes in technology; availability of skilled technical associates; and the impact of new acquisitions