Docucorp Extends Stock Repurchase

Apr 10, 2001, 01:00 ET from Docucorp

    DALLAS, April 10 /PRNewswire/ -- Docucorp(R) (Nasdaq: DOCC), a leading
 provider of enterprise information solutions, today announced that its Board
 of Directors has authorized the repurchase of up to 1 million additional
 shares of the company's common stock.  The Board had previously authorized the
 repurchase of 4 million shares of Docucorp stock, of which approximately
 3.8 million shares, or 23% of outstanding shares, have been purchased to date.
 Under the new authorization, the company may now purchase up to a cumulative
 aggregate of 5 million shares of common stock.
     "Concern over the economic slowdown has taken its toll across-the-board on
 Nasdaq high-tech stocks, in spite of the fact that many companies, such as
 Docucorp, are healthy and growing," said Michael D. Andereck, president and
 CEO, Docucorp.  "The company remains profitable, we have a surplus of cash and
 we have a strong balance sheet that attests to our continued growth.  This
 addition to our repurchase program reaffirms a strategic decision to enhance
 stockholder value by investing in what we believe is an undervalued asset with
 great potential."
     Docucorp has approximately 14 million shares of common stock outstanding.
 Stock repurchases are made in the open market and in privately negotiated
 transactions, depending on market conditions.
 
     About Docucorp
     Docucorp is the authority in providing dynamic solutions for acquiring,
 managing, personalizing and presenting enterprise information.  Servicing the
 entire enterprise information lifecycle, Docucorp's information software,
 application service provider (ASP) hosting and professional consulting
 services enable companies to implement solutions in-house or fully outsource
 to Docucorp.  The company has an installed base of more than 900 customers,
 including many of the largest insurance, utility and financial services
 organizations.
     Headquartered in Dallas, Docucorp has major facilities in Atlanta and
 Silver Spring, MD.  The company also maintains offices in London, Portland,
 ME, and Bedford, NH.
     Docucorp is a Safeguard Scientifics (NYSE:   SFE) partner company.  For more
 information, visit Docucorp's Web site at www.docucorp.com.
 
     Certain information contained in this news release may include "forward-
 looking" statements within the meaning of the Private Securities Litigation
 Reform Act of 1995.  All statements, other than historical facts, included
 herein are forward-looking statements.  These statements involve risks and
 uncertainties, such as competition, technological developments, loss of
 significant customers and the other factors discussed in the Company's
 periodic reports filed with the Securities and Exchange Commission, that could
 cause the Company's actual results to differ materially from those expressed
 or implied by these forward-looking statements.  Docucorp is a registered
 trademark of Docucorp International.
     Company, organization and product names mentioned herein are trademarks or
 registered trademarks of their respective owners.  Docucorp and its symbol are
 trademarks of Docucorp International.
 
 

SOURCE Docucorp
    DALLAS, April 10 /PRNewswire/ -- Docucorp(R) (Nasdaq: DOCC), a leading
 provider of enterprise information solutions, today announced that its Board
 of Directors has authorized the repurchase of up to 1 million additional
 shares of the company's common stock.  The Board had previously authorized the
 repurchase of 4 million shares of Docucorp stock, of which approximately
 3.8 million shares, or 23% of outstanding shares, have been purchased to date.
 Under the new authorization, the company may now purchase up to a cumulative
 aggregate of 5 million shares of common stock.
     "Concern over the economic slowdown has taken its toll across-the-board on
 Nasdaq high-tech stocks, in spite of the fact that many companies, such as
 Docucorp, are healthy and growing," said Michael D. Andereck, president and
 CEO, Docucorp.  "The company remains profitable, we have a surplus of cash and
 we have a strong balance sheet that attests to our continued growth.  This
 addition to our repurchase program reaffirms a strategic decision to enhance
 stockholder value by investing in what we believe is an undervalued asset with
 great potential."
     Docucorp has approximately 14 million shares of common stock outstanding.
 Stock repurchases are made in the open market and in privately negotiated
 transactions, depending on market conditions.
 
     About Docucorp
     Docucorp is the authority in providing dynamic solutions for acquiring,
 managing, personalizing and presenting enterprise information.  Servicing the
 entire enterprise information lifecycle, Docucorp's information software,
 application service provider (ASP) hosting and professional consulting
 services enable companies to implement solutions in-house or fully outsource
 to Docucorp.  The company has an installed base of more than 900 customers,
 including many of the largest insurance, utility and financial services
 organizations.
     Headquartered in Dallas, Docucorp has major facilities in Atlanta and
 Silver Spring, MD.  The company also maintains offices in London, Portland,
 ME, and Bedford, NH.
     Docucorp is a Safeguard Scientifics (NYSE:   SFE) partner company.  For more
 information, visit Docucorp's Web site at www.docucorp.com.
 
     Certain information contained in this news release may include "forward-
 looking" statements within the meaning of the Private Securities Litigation
 Reform Act of 1995.  All statements, other than historical facts, included
 herein are forward-looking statements.  These statements involve risks and
 uncertainties, such as competition, technological developments, loss of
 significant customers and the other factors discussed in the Company's
 periodic reports filed with the Securities and Exchange Commission, that could
 cause the Company's actual results to differ materially from those expressed
 or implied by these forward-looking statements.  Docucorp is a registered
 trademark of Docucorp International.
     Company, organization and product names mentioned herein are trademarks or
 registered trademarks of their respective owners.  Docucorp and its symbol are
 trademarks of Docucorp International.
 
 SOURCE  Docucorp