UniComp Announces Completion of Series a Convertible Preferred Stock Redemption; Company Strengthens Balance Sheet With No Long-term Debt

Business Wire, Feb 1, 2000

Business Editors

MARIETTA, Ga.--(BUSINESS WIRE)--Feb. 1, 2000

UniComp (Nasdaq:UCMP) today announced that all of the Series A Convertible Preferred stock, the only Convertible Series that had been outstanding, has been redeemed.

The Convertible preferred holder has received a combination of cash and common stock, thereby retaining UniComp's strong cash position.

Stephen A. Hafer, President and CEO of UniComp, said, &uot;We are pleased to announce that UniComp has strengthened its balance sheet and now has no long-term debt, other than its building mortgages of approximately $2.4 million payable over 25 to 30 year terms. With the many opportunities unfolding in the Windows 2000 and Linux markets for our Unibol subsidiary and our e-commerce division, our capital structure is geared to fund the necessary expansion of our core products.&uot;

UniComp, Inc.

UniComp, Inc. is an innovative provider of business solutions and information technology services to small and large businesses located throughout North America, the United Kingdom, Europe and the Asian-Pacific Region. These business solutions and services include the following:

-- A comprehensive suite of systems management software for IBM

AS/400 users along with two software reengineering products

targeting independent software vendors and users of IBM System/36

and AS/400 systems requiring migration to open architecture

platforms such as Windows NT, Unix or Linux;

-- A Windows-based human resource planning and management system

with a focus on employee scheduling;

-- A complete suite of end-to-end secure electronic payment

solutions for e-commerce and traditional retail merchants.

UniComp's client list includes companies such as Coca-Cola, DHL Worldwide Express, BMW and Eastman Kodak. Please visit our World Wide Web site at: http://www.unicomp.com, http://www.unibol.com, http://www.unicomp-solutions.com, http://www.ctcsolutions.com, http://www.thinkpos.com, http://www.tranzparent.com or http://www.icm.unicomp.com.

Safe Harbor Statement Under the Private Securities Reform Act of 1995

Except for the historical information contained herein, the matters discussed in this news release contains forward looking statements that involve risks and uncertainties, including other risks detailed from time to time in the Company's publicly available reports on file with the Securities and Exchange Commission.