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CIC to Raise $2.2 Million in Financing and Announces Changes in Management

Phoenix is a private equity fund that specializes in making concentrated investment in publicly traded companies in North America. Phoenix is co-managed by Philip Sassower, CEO, and Andrea Goren, Managing Director. Mr. Sassower is currently Chairman and CEO of CIC.

Forward Looking StatementsCertain statements contained in this press release, including without limitation, statements containing the words "believes", "anticipates", "hopes", "intends", "expects", and other words of similar import, constitute "forward looking" statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual events to differ materially from expectations.  Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company's technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company's business; (3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.Contact Information:CICInvestor Relations & Media Inquiries:Chantal

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