Objection Filed Regarding Proposed Sale of Polaroid Subsidiary

For Immediate Release • January 14, 2002

Oklahoma City, OK -- a la mode, inc., the nations largest provider of real estate appraisal software and related technology services, announced today that it has filed an objection with the bankruptcy court overseeing the proposed sale of one of Polaroid Corporations subsidiaries.

The Polaroid subsidiary, Polaroid Digital Solutions, Inc. (PDSI), also primarily sells appraisal technology products. Prior to the commencement of Polaroids bankruptcy, a la mode had been negotiating the purchase of PDSI from Polaroid. However, Polaroid management accepted another offer from a company, from outside the appraisal industry. According to documents filed by Polaroid last Tuesday, there were only three bidders for the assets of PDSI -- a la mode, a group led by PDSI management, and the non-industry bidder.

a la modes objection relates to assertions in those documents that the accepted offer was the highest and best, that the two losing bidders had an opportunity to revise their bids, and that sufficient notice had been given to do so. But a la mode officials noted that they received the documents on the same day that objections to the proposed sale had to be filed in federal bankruptcy court in Delaware.

a la modes CEO, David Biggers, noted, Once Polaroid advised us they were entertaining another bid, they never allowed us to review the terms of the competing offer, or make a revised bid. We believe the best interests of the investors, lenders, and bondholders of Polaroid are served by using every effort to extract the highest possible price for any subsidiary being sold, and thus, we have requested that the bankruptcy court allow us time to review the terms of the proposed sale, conduct due diligence, and determine whether to make a revised offer. Based on the preliminary information provided to us, we could easily have raised our $4.5 million bid and exceeded the offer accepted by Polaroid."

A hearing set for 2 pm on Tuesday, January 15th will determine whether the proposed sale can proceed.

About a la mode
a la mode is the leader in the design, development and support of real estate related software, Internet solutions and electronic document technologies. The companys flagship product, WinTOTAL appraisal software, is used by over 50% percent of the nations appraisers, nearly three times the share of its closest competitor. Its e-commerce servers delivered over 4 million electronic appraisals to lenders in the past 12 months, making it the undisputed leader in creating the paperless real estate transaction. Headquartered in Oklahoma City, a la mode employs 138 people. More information on the company can be found on the Web at http://www.alamode.com/