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Global Imaging Systems Acquires Advanced Business Systems; ABS Becomes Global's 16th Core Company

Posted on: Friday, 14 November 2003, 06:00 CST

TAMPA, Fla., Nov. 14 /PRNewswire/ -- Global Imaging Systems, Inc. announced today that it has acquired Advanced Business Systems, based in Chatsworth, CA. Advanced is a dealer in Minolta copiers and fax products, Muratec multi-function products and HP printers.

Global Imaging Chairman and CEO Tom Johnson said, "The acquired operation will operate as our 16th core company. Typically, we acquire a core company to serve as our growth platform in a new market and then add satellite businesses over time. Advanced Business Systems serves the Los Angeles and Ventura County, CA, markets with offices in Chatsworth, Santa Monica and Pasadena. Annual revenues are approximately $12,500,000."

Mr. Johnson also announced that Eric Marino, 41, president of Advanced, and Lou Marino, Sr., CEO, will continue in their present capacities with the core company.

"We are proud to join the Global team," said Eric Marino, "giving us a strong national partner with similar spirit and objectives. Like Global, we offer office technology solutions to middle-market customers, and we share a commitment to service and a passion for our customers' productivity. We have served the greater Los Angeles business community with integrity for over 35 years."

Tom Metzler, Southwest Group president, added, "Advanced, with its strong sales force and superb service organization, gives Global a growing presence in this key market. We are especially pleased to have the entrepreneurs who founded and grew this business staying on with Global to direct the next growth phases of Advanced Business Systems."

Global Imaging Systems offers thousands of middle-market customers a one-stop shop for office technology solutions from 149 locations in 28 states plus the District of Columbia. The company provides a broad line of office technology solutions including the sale and service of automated office equipment, network integration services and electronic presentation systems. The company is also a disciplined, profitable consolidator in the highly fragmented office technology solutions industry.

This news release contains forward-looking statements and statements based on forward-looking information, including statements about expansion of our customer base, cross-selling opportunities, future acquisitions, product and service offerings. These statements are based on numerous assumptions and are subject to uncertainties and risks. Actual results could differ materially. Factors that might cause Global's results to differ materially include market conditions, liquidity needs and other factors which are discussed in more detail under the caption "Risk Factors" in Global's annual report on Form 10-K for the fiscal year ended March 31, 2003, and in other filings with the Securities and Exchange Commission.

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