VITRIX Acquires Time America, Inc.

- VITRIX Shareholders Approve Reverse Stock Split -



Apr 02, 2001, 01:00 ET from VITRIX, Inc.

    TEMPE, Ariz., April 2 /PRNewswire/ -- VITRIX, Inc.
 (OTC Bulletin Board:   VTTX) today announced that it has finalized its
 acquisition of Time America, Inc. ("Time America"), a private Arizona-based
 Time and Attendance software development company.  In connection with the
 acquisition, VITRIX shareholders approved a proposal effecting a 1-for-10
 reverse stock split.  In consideration for such acquisition, the Company
 issued an aggregate of 3,147,914 shares of common stock (on a post reverse
 stock split basis).
     "Finalizing the acquisition with Time America is consistent with our
 strategy of looking for means to strengthen our existing Time and Attendance
 portfolio.  With complementary products and little overlap, Time America will
 add additional product opportunities as well as increase our presence within
 the dealer channel," said Thomas S. Bednarik, president and CEO of VITRIX,
 Inc.
     The acquisition agreement with Time America, previously announced on
 February 7, expands VITRIX's existing Time and Attendance products and
 combines the technological expertise of both companies, creating a more
 complete Time and Attendance product line.
     As part of the acquisition transaction, Robert Zimmerman, esquire, a
 partner with the firm Mallery and Zimmerman, has joined the Company's Board of
 Directors and Michael A. Wolf, Hamid Shojaee, William Swartz and Bahan Sadegh
 have resigned from the Board.
 
     About VITRIX, Inc.:
     VITRIX, Inc., based in Tempe, Arizona, is a developer and provider of
 workforce management solutions for businesses of all sizes.  VITRIX products
 improve productivity by automating collection of time and attendance data,
 staff scheduling and management of labor resources.  For more information
 please visit the VITRIX Web site at http://www.vitrix.com.
 
     About Time America, Inc.:
     Time America, Inc., based in Phoenix, Arizona is a leading provider of
 automated time and attendance solutions.  For more than thirteen years, Time
 America has developed software and hardware that automates the payroll process
 by collecting, processing and packaging payroll data for all types of
 companies in a broad range of markets.  For more information please visit the
 TIME AMERICA Web site at http://www.timeamerica.com.
 
     Certain information and comments contained in this press release may be
 forward-looking statements (within the meaning of Section 27A of the
 Securities Act of 1933 and Section 21E of the Securities Exchange Act of
 1934).  Factors set forth in the Company's Annual Report on Form 10-KSB for
 the fiscal year ended June 30, 2000, its subsequent Form 10-QSB filings
 together with other factors that appear in this press release or in the
 Company's other Securities and Exchange Commission filings could affect the
 Company's actual results and could cause the Company's actual results to
 differ materially from those expressed in any forward-looking statements made
 by, or on behalf of the Company, in this press release.
 
     For further information please contact Kyri McDonough, Marketing of
 VITRIX, Inc., 480-967-5800 ext 407, kyrim@vitrix.com.
 
 

SOURCE VITRIX, Inc.
    TEMPE, Ariz., April 2 /PRNewswire/ -- VITRIX, Inc.
 (OTC Bulletin Board:   VTTX) today announced that it has finalized its
 acquisition of Time America, Inc. ("Time America"), a private Arizona-based
 Time and Attendance software development company.  In connection with the
 acquisition, VITRIX shareholders approved a proposal effecting a 1-for-10
 reverse stock split.  In consideration for such acquisition, the Company
 issued an aggregate of 3,147,914 shares of common stock (on a post reverse
 stock split basis).
     "Finalizing the acquisition with Time America is consistent with our
 strategy of looking for means to strengthen our existing Time and Attendance
 portfolio.  With complementary products and little overlap, Time America will
 add additional product opportunities as well as increase our presence within
 the dealer channel," said Thomas S. Bednarik, president and CEO of VITRIX,
 Inc.
     The acquisition agreement with Time America, previously announced on
 February 7, expands VITRIX's existing Time and Attendance products and
 combines the technological expertise of both companies, creating a more
 complete Time and Attendance product line.
     As part of the acquisition transaction, Robert Zimmerman, esquire, a
 partner with the firm Mallery and Zimmerman, has joined the Company's Board of
 Directors and Michael A. Wolf, Hamid Shojaee, William Swartz and Bahan Sadegh
 have resigned from the Board.
 
     About VITRIX, Inc.:
     VITRIX, Inc., based in Tempe, Arizona, is a developer and provider of
 workforce management solutions for businesses of all sizes.  VITRIX products
 improve productivity by automating collection of time and attendance data,
 staff scheduling and management of labor resources.  For more information
 please visit the VITRIX Web site at http://www.vitrix.com.
 
     About Time America, Inc.:
     Time America, Inc., based in Phoenix, Arizona is a leading provider of
 automated time and attendance solutions.  For more than thirteen years, Time
 America has developed software and hardware that automates the payroll process
 by collecting, processing and packaging payroll data for all types of
 companies in a broad range of markets.  For more information please visit the
 TIME AMERICA Web site at http://www.timeamerica.com.
 
     Certain information and comments contained in this press release may be
 forward-looking statements (within the meaning of Section 27A of the
 Securities Act of 1933 and Section 21E of the Securities Exchange Act of
 1934).  Factors set forth in the Company's Annual Report on Form 10-KSB for
 the fiscal year ended June 30, 2000, its subsequent Form 10-QSB filings
 together with other factors that appear in this press release or in the
 Company's other Securities and Exchange Commission filings could affect the
 Company's actual results and could cause the Company's actual results to
 differ materially from those expressed in any forward-looking statements made
 by, or on behalf of the Company, in this press release.
 
     For further information please contact Kyri McDonough, Marketing of
 VITRIX, Inc., 480-967-5800 ext 407, kyrim@vitrix.com.
 
 SOURCE  VITRIX, Inc.