Date: 03 Mar 1993 16:22:19
From: Moderators <tk0jut2@mvs.cso.niu.edu>
Subject: File 1--PKZIP Bankruptcy Rumor is a *HOAX*

A recent "press release" indicated that PKWARE, producers of PKZIP
and
other popular software has filed for bankruptcy under Chapter 11.

THE PRESS RELEASE IS A HOAX! PKWARE's Mike Stanton indicated that
the
PKWARE is in sound financial shape and that there is no basis
whatsoever to the release. "It's probably somebody's idea of an
early
April Fool's joke," said Stanton.

The release contained a number of factual errors that prompted us
call
PKWARE, and they confirmed what we suspected.

The original press release read:

     FYI
     FOR IMMEDIATE RELEASE
     FRIDAY, FEBRUARY 26, 1993 5:00PM CST
    
===============================================================

     PKware Inc., citing overwhelming advertising, administrative
and
     development expenses with the recent problem-plagued release
of
     their new PKZIP product, filed for chapter 11 bankruptcy today
in
     the Milwaukie County District Court.

     "PKWARE will continue to operate normally, and will provide,
as
     always, the high-quality data compression products and
services
     which have made us the leader in the data compression market,"
     Mark Gresbach, press-relations manager of PKWARE, said.

     In business since 1987, PKWARE Inc. produces high-performance
     data compression software, which makes computer program and
data
     files smaller, for faster transmission over telephone lines or
to
     take up less disk space.  Fortune 500 companies such as
Borland
     Inc., of Scotts Valley, CA and government agencies such as the
US
     Air Force are major customers of PKWARE.

     Any questions or concerns may be directed to PKWARE at any of
the
     following telephone numbers:

     Phone (414) 354-8699
     FAX   (414) 354-8599
     BBS   (414) 356-8670.
+++

The errors include:

1) Inaccurate phone numbers
2) A non-existent spokesperson position at PKWARE
3) An improper court of jurisdiction: There is no "Milwaukee County
   *District* Court; Chapter 11 is filed under federal statutes,
not
   "County"/State statutes
4) Unusual wording

PKWARE's latest release of PKZip (2.04g) has been released and has
been so well received that the Katz folk are barely able to keep up
with the orders. It is faster, tighter, and provides more options
than
earlier releases.

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