CONTACT:

Suzanne Brennan
Phone: (303) 889-4500
suzanne.brennan@syngistix.com

SYNGISTIX ANNOUNCES FINANCING

ENGLEWOOD, CO June 27, 2001 - Syngistix, Inc., formerly Distribution Resources Company, a recognized leader in the distribution software industry, today announced that it has completed working capital equity financing. The undisclosed amount was provided by lead investor Roser Ventures (www.roserventures.com), Syngistix employees and Cortech Fund IV which has increased its stake in Syngistix from the original purchase financing in February 2001.

"We're thrilled with everything the new management team has accomplished in their short tenure at Syngistix. Even in this short period, management has shown all signs of capacity for growth, and our funding is the springboard for the company to achieve this growth over the long term," said Chris Roser, General Partner of Roser Ventures.

The new Syngistix management team shares a commitment to building a customer-driven culture and has refocused product efforts to provide an openness and flexibility in Syngistix products. With an entrepreneurial spirit and new capital, Syngistix believes it has the correct ingredients for achieving success.

"I'm excited about the opportunity to work with Roser Ventures once again. There is great synergy between us. It adds to our optimism knowing we have their support. We have what is now a complete and capable organization. Leave no doubt -- we're here to deliver, " asserted Scotte Hudsmith, CEO of Syngistix.

About Syngistix, Inc.

cheap hotels in KastrupSyngistix, Inc., formerly Distribution Resources Company (DRC), is a solutions-based company that addresses the unique needs of each customer in improving the flow of goods from supplier to customer, increasing services and lowering costs. The company provides enterprise wide, web enabled distribution solutions for mid-market distribution and fulfillment companies. Since 1976, the company has shipped its "System for Distributors" product to more than 300 customers in over 1,000 sites worldwide. The company provides expertise in development, consulting, training and support.

Syngistix is a Microsoft Certified Solutions Provider and participates with Microsoft in its Value Chain Initiative, Commerce Initiative, Independent Software Vendor Program and the Microsoft Developer Network.

Syngistix is also a Hewlett Packard Channel Provider and HP Solution Provider.

Syngistix is based in Englewood, Colorado and can be reached at (303) 889-4500 or through its website at www.syngistix.com.

 

 
 
 
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