Crescendo Investments II, LLC

August 24, 2005 09:06 ET

Crescendo Comments on its Director Nominees for the Board of Geac

NEW YORK, NEW YORK--(CCNMatthews - Aug. 24, 2005) - Crescendo Investments II, LLC ("Crescendo Investments") on behalf of Crescendo Partners II, L.P., Series F ("Crescendo Partners") today responded to Geac's misleading press release regarding the change of the Crescendo nominee to the board of directors of Geac Computer Corporation Limited.

Mr. Eric Rosenfeld, President of Crescendo Partners said, "We understand that Geac exerted pressure on Updata to have Mr. Gerry Smith withdraw from the Crescendo slate. This created the conflict that Mr. Smith had not anticipated. It is disingenuous that after having caused Mr. Smith's withdrawal, Geac would then turn around and characterize the events the way they have".

Mr. Rosenfeld continued, "We are confident that Geac shareholders will not be fooled by steps taken to avoid providing Geac shareholders with an opportunity to consider Mr. Smith for their board. In any case, Crescendo has been able to attract an extremely qualified candidate in Mr. Dennis Conroy who will be able to draw upon his extensive experience in the IT sector to protect the interests of all shareholders. We prefer to focus on the real issue at hand - the future strategic direction of Geac".

Shareholders who have previously returned a proxy in support of management may vote in favour of Crescendo Partners' nominees by signing, dating and returning a GOLD proxy to Innisfree M&A Incorporated, Crescendo Partners' proxy solicitor. Only the latest dated proxy counts.

Innisfree must receive GOLD proxies prior to 5:00 p.m. (Toronto time) on Thursday, September 8, 2005 in order for them to be used at Geac's annual general meeting. Shareholders who need assistance voting their shares may call toll-free at 1-877-825-8772 (English speakers) or 1-877-825-8777 (French speakers). (Banks and brokers may call collect at 212-750-5833.)

Crescendo Partners' proxy circular is available through the SEDAR website at www.sedar.com.

Cautionary Note Regarding Forward Looking Statements:

This press release contains forward-looking statements of Crescendo Investments' intentions, beliefs, expectations and predictions for the future. These forward-looking statements often include use of the future tense with words such as "will," "may," "intends," "anticipates," "expects" and similar conditional or forward-looking words and phrases. All forward looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties which could cause actual events or results to differ materially from those projected. Investors are cautioned not to place undue reliance on these forward-looking statements. Crescendo Investments undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.

Contact Information

  • Crescendo Partners:
    Eric Rosenfeld
    President, Chief Executive Officer and
    Managing Member of Crescendo Investments
    (212) 319-7676
    or
    Innisfree M&A Incorporated:
    Alan Miller
    Co-Chairman, Managing Director
    (212) 750-5831