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Microforum
Inc. (ticker: MCF.TO, exchange: Toronto Stock Exchange) Microforum AnnouncementTORONTO, July 5 - Microforum Inc. (TSE: MCF - News) today announced that it has filed a Statement of Claim against Security Service Federal Credit Unit ("SSFCU"), a former client, for recovery of damages in the amount of U.S. $635,334. This claim was filed by Microforum in response to SSFCU's unilateral termination of its contract and demand that Microforum return US$467,840 previously paid. SSFCU's claim relates to deficiencies in the software developed by Microforum under a specific work order in accordance with a Master Development and License Agreement dated July 10, 2000 between Microforum and SSFCU. Microforum believes that SSFCU's claim is largely without merit and intends to defend this matter vigourously and to enforce its own claim for damages. About Microforum Established in 1987, Microforum sells software solutions to organizations that seek a competitive edge. The company is listed on The Toronto Stock Exchange (TSE: MCF - News). For more information, please visit www.microforum.com . For further information please contact:
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