CAMBRIDGE, Mass., Oct. 11 /PRNewswire/ -- Jim P. Manzi, chief
executive officer of Lotus Development Corp. since April 1986, resigned
today.  In July, Lotus became a wholly owned subsidiary of IBM Corp.
when it was acquired for $3.5 billion.
    In a memo to employees explaining his decision to resign, Manzi
said: "I have concluded over the past couple of weeks that I'm not the
right person to be leading Lotus at this juncture in its history.  The
attributes that I believe made me an effective chief executive of a
nearly billion-dollar independent company, aren't necessarily the
attributes required of an executive leading a division within a much
larger organization.  The challenges that excited me previously aren't
necessarily the same challenges we face today."
    Manzi told employees he was proud of what they had accomplished
together.  He cited the shipment of Lotus 1-2-3 in January 1983, which
delivered real value to early users of personal computers; the company's
transition to a multi-product strategy; and the company's transformation
from being a supplier of single-user desktop applications to a leader in
communications-based software "that is helping companies worldwide
transform the way they do business."
    Manzi told employees he was most proud not of what they had
accomplished, "but in how we accomplished it."  He added that he is
confident Lotus and IBM can work together to provide unique value to
customers.  He also said he's confident that Lotus' communications-based
strategy will pay dividends far into the future and that Lotus Notes
will be "the defining network application in a networked world." Manzi,
who as a consultant with McKinsey & Company helped develop the strategy
for bringing Lotus 1-2-3 to market, joined the company as director of
marketing in May 1983.  He was promoted to vice president of sales and
marketing, leading the company's expansion into international markets,
and then was named president and chief operating officer in November
1984.  In April 1986, he was named chief executive officer and later
that year, in July, he was appointed chairman as well.
    Lotus Development Corp., a subsidiary of IBM Corp.(NYSE: IBM),
offers high quality software products and support services that reflect
the company's unique understanding of the new ways in which individuals
and businesses must work together to achieve success.  Lotus' innovative
approach is evident in a new class of applications that allows
information to be accessed and communicated in ways never before
possible, both within and beyond organizational boundaries.  The company
also provides numerous support services, both from its consulting
division and its award-winning 24-hour support center.
    EDITOR'S NOTE: All Lotus news releases and other SmartSuite
collateral are available on the Internet, via the Lotus Development
Corp. Home Page at http://www.Lotus.com.  The Lotus Home Page is an easy
way to find information about Lotus and its business partners' products
and services.
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