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Apr 13, 1999
Acquisition Creates Worldwide Presence

ALISO VIEJO, CA - Smith Micro Software, Inc. (Nasdaq: SMSI) today announced that it has acquired STF Technologies, Inc., the leading manufacturer of communications software for the Macintosh®. STF Technologies will now be operated as a wholly-owned subsidiary of Smith Micro Software, Inc. This acquisition establishes Smith Micro as a world leader in the development and sale of Macintosh communications software and enhances the company's current position as a leader in overall PC communications software solutions.

Apple bundles STF Technologies' FAXstfTM with Apple products and is working with Smith Micro's STF Technologies Macintosh Division on future product offerings.

In related news, Smith Micro's STF Technologies Macintosh Division announced it is developing a Mac® "client" software application for Smith Micro's conexs.comTM. is an Internet service that gives subscribers the ability to make Internet phone calls, have real-time chat sessions, and even make video phone calls (if they have a camera), at no additional charge. Smith Micro's strategic plan for is similar in certain ways to that of the Internet "portals" like Yahoo!®, ExciteTM, Lycos®, etc.; that is, develop an extremely large installed base and then sell upgraded products, on-line services, and advertising to the user base.

"The acquisition of STF Technologies confirms Smith Micro's strong commitment to focus on the Mac market," said William W. Smith, Jr., President and CEO of Smith Micro. "We intend to retain the integrity of developing products for the Macintosh marketplace that historically has been the strength of STF Technologies. With the addition of Smith Micro's resources, it will allow us to expand our leadership position in the Mac market such as our commitment to build a Macintosh client. We believe that the synergies created by combining our two companies will provide certain financial and operational efficiencies."

"The iMacTM, PowerBook G3s and new Power Macintosh G3s have inspired developers to bring out a deluge of new products for Macintosh customers," said Clent Richardson, Apple's vice president of worldwide developer relations. "Developers are recognizing that the Macintosh is once again a platform where companies can innovate and prosper and we believe the combination of Smith Micro and STF Technologies will result in even more great Mac products, like FAXstf, moving forward."

"We are pleased to join the Smith Micro team and broaden our efforts to continue to develop and support Macintosh software communication products," said W. Rick Wyand, formerly STF Technologies' President and CEO and now the general manager of Smith Micro's STF Technologies Macintosh Division. "Teaming STF Technologies' award-winning FAXstf software with the resources and Internet telephony experience of Smith Micro creates a bright future for the newly-combined company," said Wyand.

The STF Technologies acquisition immediately increases Smith Micro's revenues, broadens its customer base, compliments its existing Macintosh product line and positions the company as a leader in the development of solutions for the Macintosh Internet telephony market. With the acquisition of STF Technologies, Smith Micro has a very strong Macintosh team as well as the resources to implement its plan to support the Macintosh fax market and aggressively develop and market Internet telephony solutions for Mac users.

Under the terms of the agreement, Smith Micro issued 409,164 shares of common stock and paid $1.0 million in cash as the purchase price for all of the outstanding shares of STF Technologies. Smith Micro has agreed to file a Form S-3 registration statement on such shares within 90 days of the closing. The transaction will be accounted for as a stock purchase. STF Technologies had revenues of approximately $2.5 million for its year ended December 31, 1998 with nominal profit for the year.

This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are economic, competitive, governmental and technological factors effecting the company's operations, markets, products, services and prices, as well as, other factors detailed in the company's filings with the Securities and Exchange Commission including its recent filings on Forms 10-K and 10-Q.

Smith Micro, the Smith Micro logo,, FAXstf and STF Technologies are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective companies.