Iwin Corporation management resigns after takeover.

On Monday, the 4th of October negotiations with "FOCKE SYSTEMS Ges.m.b.H" in Austria were finished resulting in a takeover of Iwin Corporation. Negotiations already started a month ago, but both parties were forced to keep silent during the negotiations.

Focke Systems Ges.m.b.H first announced that the management will stay, but in a rushly called in meeting last night, the President of Focke Systems Ges. m.b.H - Mr. Gerhard Frank - announced that the management of Iwin Corporation will be replaced. Only Rue Ann Mark will stay as CEO and Chairman of the new firm "Iwin Hardware Products". Iwin Corporation will be split into three new independent firms. "Iwin Software Products" which will continue the development of Server and workstation computers and the C-Series. "Iwin Consulting" which will be responsible for installations, support and training. New CEO's, presidents and chairmans have to be found for "Iwin Consulting" and "Iwin Software Products". A seperate press-release will be sent out as soon as they have been found and elected.

The current management has resigned from their positions. Martin Steinbach and Peter Steck will continue to be available for "Iwin Hardware Products" and "Iwin Software Products" for general questions.

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