SCB Computer Technology, Inc. Announces Nasdaq Delisting Notification and Audit Committee Investigation Status

Business Wire, May 30, 2000

Business Editors

MEMPHIS, Tenn.--(BUSINESS WIRE)--May 30, 2000

SCB Computer Technology, Inc. (Nasdaq:SCBI) today announced that it has received notification from Nasdaq that it intends to delist SCB's common stock from the Nasdaq National Market effective as of the close of business on June 6, 2000. SCB intends to appeal Nasdaq's decision, which will cause the delisting to be stayed pending the outcome of the appeal process.

On April 14, 2000, Nasdaq suspended trading in SCB's common stock pending Nasdaq's receipt and review of information requested from SCB. The requested information relates to the issues being investigated by the audit committee of SCB's board of directors and to the other matters disclosed by SCB in a press release issued on April 14, 2000. SCB has responded to Nasdaq's information request and intends to supplement its responses as soon as additional information from the investigation becomes available.

The SCB audit committee intends to complete its investigation within the next few weeks as originally projected. At such time, SCB intends to issue a press release setting forth the adjustments that it proposes to make to its financial results for fiscal 1998 and 1999 and the first three quarters of fiscal 2000. Thereafter SCB will undertake the process of restating its financial statements for these periods and will file amended reports with the Securities and Exchange Commission.

Certain statements contained in this press release and related statements by management may be deemed to be forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timing and outcome of the audit committee's investigation and the adjustments to be made to SCB's financial statements, as well as the other risks described in SCB's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update this forward-looking information except as required by law.

SCB Computer Technology, Inc. is a leading provider of information technology management and technical services to Fortune 1000 companies, state and local governments, and other large organizations. SCB's services primarily consist of enterprise solutions strategy consulting and planning, e-business solutions, enterprise development services, integrated ASP services, enterprise resource planning solutions, customer relationship management solutions, and project management solutions.