June 11, 1992 -- Tempe. Arizona -- Broderbund Software, Inc. (NASDAQ BROD), a leading publisher of consumer software, announced today that it has entered into an agreement to acquire PC Globe, Inc., publishers of popular "electronic atlas" programs. The agreement provides for payment of $1.5 million to PC Globe's shareholders. A leader in desktop geography software, PC Globe's sales in fiscal 1991 were $7.7 million. PC Globe's software includes PC Globe, PC USA, MacUSA and MacGlobe. Broderbund and PC Globe are already strategically allied. Earlier this year, the parties entered into an agreement whereby Broderbund distributes PC Globe's products into the educational channel. Also, Broderbund had previously agreed to provide a line of credit facility to PC Globe of up to $500,000. "PC Globe is a market leader in atlas software, and its new products will strengthen that position," said Doug Carlston, Broderbund's chairman and chief executive officer. "The PC Globe product line complements Broderbund's existing product line very well." "We at PC Globe are delighted to be acquired by Broderbund," said Don Ditter, PC Globe's president. "No software company enjoys a finer reputation than Broderbund, and their Carmen Sandiego line of educational geography programs fits beautifully with our line of electronic atlases." In January 1992, Broderbund commenced a lawsuit in U.S. District Court in San Francisco to set aside a supposed acquisition agreement between PC Globe and IntraCorp, a Miami-based software company. IntraCorp had filed counterclaims against Broderbund, and on June 5, 1992, the court dismissed all of IntraCorp's counterclaims. Based in Tempe, AZ, PC Globe was founded in 1987. Its flagship product, PC Globe, is an electronic atlas that provides maps and data for more than 200 countries. PC Globe employs a staff of forty. Broderbund Software, Inc., a personal computer software publisher based in Novato, CA, was founded in 1980. Broderbund develops, publishes and markets personal computer software for the home, school and small business markets. PC Globe Inc 4440 South Rural Rd, Tempe, AZ 85282-7044 602-730-9000 +---------------------------------------------------------------+ | From the America Online New Product Information Services | +===============================================================+ | This information was processed with OmniPage Professional OCR | | software (from Caere Corp) & a Canon IX-30 scanner from data | | provided by the above mentioned company. For additional info, | | contact the company at the address or phone# indicated above. | | All submissions for this service should be addressed to | | BAKER ENTERPRISES, 20 Ferro Drive, Sewell, NJ 08080 U.S.A. | +---------------------------------------------------------------+