KING OF PRUSSIA, Penn., Feb. 9, 2005 (PRIMEZONE) -- Neoware Systems, Inc. (Nasdaq:NWRE), the leading supplier of software, services, and appliances for thin client computing, today announced that Michael Kantrowitz, the Company's Chairman and CEO, purchased 100,000 shares of Neoware common stock through the exercise of employee stock options granted to him in 2000.
Subsequently, Mr. Kantrowitz sold 55,000 of these shares in open market transactions on February 7, 2005, and will continue to hold 45,000 of these shares. As previously announced, Mr. Kantrowitz took this action during the current open window because these non-qualified options were scheduled to expire on their 5-year anniversary in May 2005. Mr. Kantrowitz used the proceeds of the sale to pay for the option exercise cost and the taxes due in connection with the option exercise.
As a result of these and other option exercises over the past six months, Mr. Kantrowitz has increased his direct holdings in the Company from approximately 75,000 shares to approximately 213,000 shares.
About Neoware
Recently ranked America's eighth fastest-growing company by Fortune Magazine, Neoware is a leading provider of software, services, and thin client appliances that make computing more open, secure, reliable, affordable and manageable. By leveraging open technologies and eliminating the obsolescence that is built into standard PC architectures, Neoware enables enterprises to leverage server-based computing to provide increased flexibility and choice, as well as lower up-front and total costs.
Neoware's software products enable enterprises to gain control of their desktops, and to integrate mainframe, midrange, UNIX and Linux applications with Windows(R) and the web. Neoware's thin client appliances and software enable enterprises to run applications on servers, and display them across wired or wireless networks on secure, managed, reliable appliances that cost as little as one-fourth the price of today's typical business PC.
Neoware's products are available worldwide from IBM, as well as from select, knowledgeable resellers. More information about Neoware can be found on the Web at http://www.neoware.com or via email at info@neoware.com. Neoware is based in King of Prussia, PA.
Neoware is a trademark of Neoware Systems, Inc. All other names products and services are trademarks or registered trademarks of their respective holders.