CE Software, Inc.
CE Software, Inc. Reports Change in SEC
West Des Moines, Iowa, April 14, 2003 -- CE SOFTWARE,
INC. (OTCBB Symbol: CESF) today announced that it has filed a Form 15 with the Securities
and Exchange Commission (the "SEC") to deregister its common stock and
terminate reporting obligations under the Securities Exchange Act of 1934.
Termination of registration of the Company's securities is expected
to become effective within 90 days of the filing the Form 15. We expect that as of
the effective date of the termination, the Company's securities will no longer be
eligible to be listed on OTCBB, but will be eligible to trade on the OTC Pink Sheets.
As a result of the filing of the Form 15, the Company will no longer file with the
SEC certain reports and forms, including Forms 10-K, 10-Q and 8-K.
CE Software reported in its recent proxy that it was considering
whether the company would remain a reporting company in light of the cost and effort
imposed by the new Sarbanes-Oxley Act. This was carefully considered at the Annual
Meeting of Directors following the Annual Meeting of Shareholders on February 28.
A final decision was made by the Board on April 3.
"Though we wished to remain a reporting company, it was not
possible for us absorb the added expense and afford the time necessary to comply
with the Sarbanes-Oxley Act," said John S. Kirk, President. "We firmly
believe that Congress should have made an exception in the law for small companies."
Since 1981, CE Software, Inc. has developed productivity software,
automation utilities and e-mail software that save time and effort for millions of
Microsoft Windows and Macintosh users. For more information: (515) 221-1801 or www.cesoft.com