Access Solutions International Receives Settlement In Patent Lawsuit

Apr 23, 2001, 01:00 ET from Access Solutions International, Inc.

    NORTH KINGSTOWN, R.I., April 23 /PRNewswire Interactive News Release/ --
 Access Solutions International, Inc. (OTC: ASIC), announced today that it has
 received a monetary settlement pursuant to a signed settlement agreement with
 Anacomp, Inc. ("Anacomp") and Eastman Kodak Company ("Kodak"), resolving its
 patent infringement lawsuit against defendants Anacomp and Kodak in the United
 States District Court for the District of Rhode Island.  On August 29, 1997,
 ASI had filed the complaint against Data/Ware Development, Inc. (Anacomp's
 predecessor) and Kodak alleging infringement of ASI's patents 4,775,969 and
 5,034,914.  The defendants had counterclaimed and counter-sued ASI.
     After the payment of legal fees and the share of the settlement allocable
 to the co-owner of the patent, ASI will receive net proceeds of approximately
 $4,000,000, of which approximately $2,200,000 will be used to retire
 outstanding debt and payables.  Included in the debt is an issue of
 approximately $1,600,000 that is convertible into common stock of the company,
 which the holder has stated he will not convert.
     This settlement represents a significant milestone and critical junction
 in the long-term future of the company.  The management of ASI will be
 assessing various strategic alternatives, which will best benefit its
 shareholders, customers and employees.
     Access Solutions International, Inc. designs, develops, manufactures and
 markets information storage and retrieval systems, including both software and
 hardware. ASI is the developer of GIGAPAGE, an MVS/CICS COLD application
 providing storage and access to terabytes of corporate data for business
 analysis, customer service, regulatory and research applications.
 
     NOTE:  Statements in this news release that are not strictly historical
 are forward-looking statements within the meaning of the safe harbor
 provisions of the Private Securities Litigation Reform Act of 1995. These
 statements are made based upon information available to the Company as of the
 date of this release, and the Company assumes no obligation to update forward-
 looking statements. Editors and investors are cautioned that forward-looking
 statements involve risk and uncertainties, which may affect the company's
 business prospects and performance. This includes economic, competitive,
 governmental, technological and other factors discussed in the Company's 10-
 KSB, 10-QSB and other periodic filings with the SEC.
 
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SOURCE Access Solutions International, Inc.
    NORTH KINGSTOWN, R.I., April 23 /PRNewswire Interactive News Release/ --
 Access Solutions International, Inc. (OTC: ASIC), announced today that it has
 received a monetary settlement pursuant to a signed settlement agreement with
 Anacomp, Inc. ("Anacomp") and Eastman Kodak Company ("Kodak"), resolving its
 patent infringement lawsuit against defendants Anacomp and Kodak in the United
 States District Court for the District of Rhode Island.  On August 29, 1997,
 ASI had filed the complaint against Data/Ware Development, Inc. (Anacomp's
 predecessor) and Kodak alleging infringement of ASI's patents 4,775,969 and
 5,034,914.  The defendants had counterclaimed and counter-sued ASI.
     After the payment of legal fees and the share of the settlement allocable
 to the co-owner of the patent, ASI will receive net proceeds of approximately
 $4,000,000, of which approximately $2,200,000 will be used to retire
 outstanding debt and payables.  Included in the debt is an issue of
 approximately $1,600,000 that is convertible into common stock of the company,
 which the holder has stated he will not convert.
     This settlement represents a significant milestone and critical junction
 in the long-term future of the company.  The management of ASI will be
 assessing various strategic alternatives, which will best benefit its
 shareholders, customers and employees.
     Access Solutions International, Inc. designs, develops, manufactures and
 markets information storage and retrieval systems, including both software and
 hardware. ASI is the developer of GIGAPAGE, an MVS/CICS COLD application
 providing storage and access to terabytes of corporate data for business
 analysis, customer service, regulatory and research applications.
 
     NOTE:  Statements in this news release that are not strictly historical
 are forward-looking statements within the meaning of the safe harbor
 provisions of the Private Securities Litigation Reform Act of 1995. These
 statements are made based upon information available to the Company as of the
 date of this release, and the Company assumes no obligation to update forward-
 looking statements. Editors and investors are cautioned that forward-looking
 statements involve risk and uncertainties, which may affect the company's
 business prospects and performance. This includes economic, competitive,
 governmental, technological and other factors discussed in the Company's 10-
 KSB, 10-QSB and other periodic filings with the SEC.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X67432875
 
 SOURCE  Access Solutions International, Inc.