NTST Netsmart Technologies (MM)

Netsmart Technologies Reports a Successful Warrant Exercise Company Adds $4.2 Million to Cash Balance, Now Has Over $3.00 Per Share in Cash ISLIP, N.Y., Nov. 3 /PRNewswire-FirstCall/ -- Netsmart Technologies, Inc. today announced that 423,000 of its Series B Common Stock Purchase Warrants were exercised prior to October 31, 2003, resulting in $4.2 million in cash received by the Company. James L. Conway, CEO of Netsmart, stated, "We are pleased to report that over 90% of the Series B Warrants were exercised prior to their expiration. The exercise of these warrants proved to be an efficient and cost effective process of raising capital. As previously announced, we plan to use the proceeds for general corporate purposes that may include acquiring technologies or businesses, which broaden or enhance our current product offerings and presence in the marketplace." Mr. Conway further stated, "This cash infusion further strengthens our balance sheet by increasing our cash balance to approximately $16 million and working capital to over $15.7 million. Our Company's only long-term debt is a $ 1.4 million loan payable to Fleet Bank. Our combination of strong liquidity and cash flow provides us with the resources and flexibility to actively pursue acquisitions intended to produce accretive results for our shareholders." About Netsmart Technologies, Inc. Netsmart Technologies, Inc. of Islip, N.Y., through Creative Socio-Medics, is an established, leading supplier of enterprise-wide software solutions for health and human services providers with over 580 clients, including 26 systems with state agencies. Creative's clients include health and human services organizations: public health agencies, mental health and substance abuse clinics, psychiatric hospitals, and managed care organizations. Avatar Practice Management and the Avatar Clinician Work Station, Creative's core products, are full-featured information systems that operate on a variety of operating systems, hardware platforms, and mobile devices and offer unlimited scalability. Statement on Behalf of Netsmart Technologies, Inc. Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Netsmart's filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates, and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Netsmart's or Creative's website do not constitute a part of this release. DATASOURCE: Netsmart Technologies, Inc. CONTACT: Anthony Grisanti of Netsmart Technologies, 1-800-421-7503, ext. 2011, ; or Stuart Fine of Carpe DM, Inc., +1-908-490-0075, , for Netsmart Web site: http://www.netsmartech.com/

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