IMAGING TECHNOLOGIES (NASDAQ:ITEC) RETAINS STEDMAN WALKER, LTD.

Released_By: USANews Press Release Network
Date: 9/24/99
Time: 12:32:08 PM

For_Immediate_Release

Stedman Walker, Ltd.
50 Broad Street, Suite 201
New York, NY
September 24, 1999
Contact: D. Silverman
Email: dsilverman@stedmanwalker.com

IMAGING TECHNOLOGIES (NASDAQ:ITEC)RETAINS STEDMAN WALKER, LTD.

New York, N.Y., September 24, 1999, Stedman Walker, Ltd. a private investment banking and financial advisory firm today announced that they have been retained by Imagining Technologies Corporation (ITEC: NASDAQ) to assist in a financing to raise up to $10,000,000 million dollars. Imaging Technologies intends to use all funds for working capital.

As previously reported, an operational receiver has been appointed to assist ITEC in its on going turnaround. The Imperial Bank continues to provide financing to the company in the form of lines of credit. Stedman Walker believes that the satisfaction of the Imperial Bank default and the removal of the receiver along with this proposed additional financing will allow the company to resume profitable growth.

For further information contact Investor Relations at Stedman Walker - 212-747-1825 or visit the company website at http://www.itec.net.

Imaging Technologies (ITEC) is a worldwide pioneer in the development, manufacturing, licensing and distribution of high-quality digital imaging solutions. Beginning with a core technology in the design and development of Adobe® PostScript® controllers for non-impact printers and multifunction peripherals, ITEC has expanded its product offerings to include monochrome and color printers, printer controllers, external print servers, and software to improve the accuracy of color reproduction.

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*Any forward-looking statements in this release are made pursuant to the "safe-Harbor" provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, dependence upon third party vendors, and continued government support of company products and services, continued growth in per capita disposable income.