XOX Corporation Announces Restructuring of Board, Appointment of Steven Liefschultz as Chairman, Appointment of Steven Mercil as Interim CEO



Nov 19, 1997, 00:00 ET from XOX Corporation

    ST. PAUL, Minn., Nov. 19 /PRNewswire/ -- XOX Corporation (Nasdaq:   XOXC)
 today announced that Steven B. Liefschultz, Bernard J. Reeck, Richard L. Fast
 and John M. Sherbin II have joined XOX's board of directors.  Dirk McDermott
 and Robert Mars Jr. resigned due to time constraints.  Concurrently,
 Liefschultz was appointed chairman of XOX's board of directors, replacing
 Mercil as chairman.  Reeck,  Mercil and Thomas Lucas, a current board member
 of XOX, were appointed vice chairmen of the XOX board of directors.  Mars has
 agreed to serve on an advisory committee to the board.
     Mercil was appointed interim chief executive officer, president, and chief
 financial officer of XOX until a suitable replacement can be found.  Dr.
 Pradeep Sinha, who had been acting in that capacity, will remain a board
 member, vice president of research and chief technical officer.
     Liefschultz is chairman of the Remada Company, a successful real estate
 management company in Minnesota.  Prior to this, Liefschultz practiced law for
 12 years, specializing in commercial litigation, contract negotiation and
 commercial real estate.  He has extensive experience in the ownership and
 management of income real estate and other areas of investment.  In addition
 to his normal duties as chairman, Liefschultz has agreed to provide additional
 services on behalf of XOX and its board.  These services include, among
 others, consultation related to strategic planning and financing strategy,
 evaluation of strategic alliance opportunities, review and negotiation of
 customer contracts, and consultation related to acquisitions, mergers, and
 divestiture.
     Mercil was previously the equity fund manager of Minnesota Technology,
 Inc. (MTI), an equity investment fund specializing in Minnesota technology
 companies.  MTI granted Mercil a leave of absence to be employed at XOX on an
 interim basis.  Mercil has more than 13 years of experience assisting in the
 strategic development and growth of public and private companies.  He rejoined
 XOX's board last August after previously serving from 1993 to 1995.
     Reeck is the president of Group Services Corporation, which has interests,
 among others, in the oil and gas industry, and of The Cellars Wines & Spirits
 Inc., a chain of retail liquor stores in Minnesota.  He has also been involved
 in numerous real estate transactions since 1975.  He is a retired managing
 editor of West Publishing Company.
     Fast has held several executive-level positions in national and
 international manufacturing and product design throughout his 20-year career
 with Medtronic, Inc.  Currently, Fast is a member of the investment group of
 Minnesota Technology, Inc., which includes its Equity Fund Program, as well as
 its Technology Development Program for emerging growth programs.
     Sherbin has been chief financial officer, vice president, finance and
 administration, secretary and treasurer of ANSYS, Incorporated (ANSYS) since
 May 1994.  Prior to joining ANSYS, Sherbin was chief financial officer and
 treasurer of II-VI, Incorporated, an infrared materials and electro-components
 manufacturer, from February 1986 to May 1994.  Sherbin also serves on the
 board of Applied Electro-Optics, Incorporated, a laser scanner and systems
 company.
     Commenting on the new board members, Dr. Pradeep Sinha, XOX director and
 co-founder, said, "We are pleased to have these distinguished businessmen who
 have substantial investment interests in XOX join our board and our company.
 They bring a wealth of diverse business experience as XOX focuses on achieving
 profitability by concentrating on developing specialized software for the
 geosciences and other technical industries."
     Based in St. Paul, Minn., XOX Corporation develops specialized geometry
 software and licenses it as an enabling technology software component to
 applications software developers in the geosciences, CAE, scientific
 visualization and medical imaging industries.  More than 15 applications
 companies are currently developing applications based on the company's SHAPES
 geometric computing system.  For more information, visit XOX's website at
 http://www.xox.com.
 
 

SOURCE XOX Corporation