Mandrakesoft Exits Bankruptcy

Mandrakesoft Exits Bankruptcy
http://www.mandrakesoft.com/company/press/pr?n=/pr/corporate/2462

FOR IMMEDIATE RELEASE
Altadena, CA; Paris, France; March 30th, 2004 - The Commerce Court 
today accepted Mandrakesoft's exit plan from 'redressement judiciaire' 
(Chapter 11 like protection).  The plan was approved as proposed by 
the company and its court appointed administrator.

The plan provides for the payment of creditors, without 
recapitalization as a precondition, over a period of nine years. The 
turnaround was largely made possible by improvements in the company's 
financial results -- Mandrakesoft recently recorded its first 
profitable quarter since 1999. This signals the return to normal 
operations for Mandrakesoft after a 14 month observation period.

Mandrakesoft chose the Chapter 11 like protection status in January 
2003. During the observation period, the company normalized its 
activities by refocusing its core business on Linux, dramatically 
reducing costs, optimizing business activities, and by developing high 
margin revenue lines. As a result of restructuring, Mandrakesoft 
recorded it first quarterly profit since 1999 of 270,000 EUR on 1.42M 
EUR of revenue during the period between October 2003 and December 2003.

On a related note, shares of Mandrakesoft are again being traded on 
the Euronext Marché Libre exchange (ISIN code MLMAN) and on the US OTC 
market (Stock symbol MDKFF).

Mandrakesoft will release its new operating system "Mandrakelinux 10.0 
Official" in May 2004, and plans to announce in upcoming months 
several new products for the corporate and individual markets.  The 
company also recently closed several deals with government and 
corporate clients.

Contact:
Gaël Duval <press@mandrakesoft.com>

About Mandrakesoft

Mandrakesoft is the publisher of the popular Mandrakelinux operating 
system, one of the most full-featured and easy to use Linux systems 
available. The company offers its enterprise, government and 
educational customers a complete range of GNU/Linux and Open Source 
software and related services. Mandrakesoft products are available in 
more than 120 countries through dedicated channels and also from 
MandrakeStore.com, the company's online store. Number 1 in several 
countries, Mandrakesoft has won many awards for quality and technical 
innovation. "Born on the Internet" in late 1998, Mandrakesoft has 
offices in the United States and France. Mandrakesoft is traded on 
Paris Euronext Marché Libre (ISIN Code: FR0004159382/MLMAN; Reuters 
code: MAKE.PA) and the US OTC market (stock symbol MDKFF).
http://www.mandrakesoft.com