ST. LOUIS, Mo., Sept. 8, 1999, (PRIMEZONE) -- Ultradata Systems, Inc. (Nasdaq:ULTR) is pleased to announce that the Company's shares have recently been recommended in an analyst report released yesterday by WallStreet Research, a prominent research boutique led by Alan Stone, Managing Director of Alan Stone & Company, LLC and Joseph E. Jones, CFA, a former Director of Research at the American Stock Exchange. Mr. Jones, earlier in his career, was a senior analyst at Brown Brothers, Harriman & Co. and Standard & Poor's. Mr. Stone was formerly an analyst and assistant portfolio manager at Merrill Lynch Asset Management and securities analyst at Prudential Insurance Company's Capital Markets Group.
Ultradata Systems, Inc., founded in 1986 and headquartered in St. Louis, Missouri, is primarily engaged in development, manufacturing and marketing of portable computers used for location, navigation and trip planning. Its products utilize the Company's patented data compression technology, proprietary databases with thousands of destinations along highways and in major metropolitan areas, as well as real-time Global Positioning Satellite (GPS) system, and are targeted for personal and business automobile travelers. Ultradata recently strengthened its competitive position in the industry by forming strong strategic alliances focused on product distribution through traditional consumer channels and closely incorporating the Internet technology into its corporate strategy.
WallStreet Research specializes in the microcap and small cap investment arena, looking for emerging growth companies with strong management, unique or proprietary technology, significant market potential, financial strength, and outstanding long-term earnings growth possibilities. The report can also be visited together with additional information about WallStreet Research at www.Wallst-Research.com.
Statements in this release that are not strictly historical and are "forward-looking statements" and subject to risk and uncertainty. Factors that effect actual events or results materially include, but are not limited to: (i) the Company's ability to obtain subsequent financing to further its current and future business strategies; (ii) the Company's ability to attract and retain key technical employees; (iii) the Company's success against competitive products and services; (iv) the effects of business, economic, and market conditions; and (v) factors that influence the supply/demand for the Company's publicly traded common stock generally. The risk factors and other information contained in the Company's audited financial statements and other public disclosure documents should be considered in evaluating the company's prospects and future financial performance.
For more information on Ultradata Systems, Inc. please visit company's website at www.ultradatasystems.com, or please view the copy of the WallStreet Research report at www.ipomonitor.com/wsr or www.Wallst-Research.com .