NETM Netmanage (MM)

LOS ANGELES and SAN FRANCISCO, Aug. 31 /PRNewswire/ -- Riley Investment Management LLC and Zeff Capital Partners, L.P. announced a proposal to acquire all of the outstanding shares of NetManage (NASDAQ:NETM) that they or their affiliates do not already own for $5.25 per share in cash. The proposal represents a premium of approximately 17% over NetManage's per share closing price on August 30, 2006. The non-binding offer was made in a letter to the board of directors of NetManage. Bryant Riley, Managing Member of Riley Investment Management LLC, and Daniel Zeff, Managing Partner of Zeff Capital Partners, said: "We believe that our proposal presents a compelling opportunity for the NetManage shareholders." The proposal is subject to the negotiation of a mutually acceptable acquisition agreement, among other conditions enumerated in the letter. A copy of the letter will be attached to a filing by Riley Investment Management LLC with the Securities and Exchange Commission. DATASOURCE: Riley Investment Management LLC; Zeff Capital Partners, L.P. CONTACT: Bryant Riley, Managing Member of Riley Investment Management LLC, +1-310-966-1445; or Daniel Zeff, Managing Partner of Zeff Capital Partners, L.P., +1-415-439-5273

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