Aug 16, 2007

DEVELOPER OF LIBRARY SOFTWARE SELLS COMPANY STOCK TO KEY EMPLOYEES

BOCA RATON, FL – Leonardo (Leo) Lazo, President of Mandarin Library Automation, Inc., has announced that as of July 1, 2007, he and two other major management team members, Christine DiVito, Vice President of Finance and Art Graham, Vice President of Operations, have acquired 50 percent of Mandarin’s stock.

The company, which brings state-of-the-art automation solutions, technical services and training to libraries throughout the world, has been wholly-owned since 1995 by EGEG Holdings, led by Elliot and Eleanor Goldstein.    

“A succession plan has been put in place and as new equity owners, we have a significant stake in the company’s success and growth,” said Lazo, who has been with the company since 1983. The Goldstein Family still retains ownership of 50% of the company’s stock, and Elliot Goldstein remains Chairman of the Board of Directors.

“The four of us, all long-time leaders in the company, are committed to continuing the development of our flagship software products, M3 and Oasis, and also to building our strong and long-lasting customer relationships with libraries throughout the world,” he explained.

About Mandarin Library Automation, Inc.
Recognized as a leading software developer and hardware provider, Mandarin Library Automation (MLA) has been delivering turnkey library automation solutions to thousands of school, public, academic and corporate libraries in over 50 countries since 1995. Founded upon a solid foundation of experience, technological expertise and service-oriented relationships, MLA is committed to serving its worldwide customers and providing reliable and affordable products over the long term.

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