LQ Corporation, Inc. Announced Today the Resignation, Pursuant to a Securities Purchase Agreement, of Two Members of its Board o

LQ Corporation, Inc. Announced Today the Resignation, Pursuant to
a Securities Purchase Agreement, of Two Members of its Board of Directors and
the Appointment of Sole Chief Executive Officer 


NEW YORK, May 26  /PRNewswire-FirstCall/ -- Seymour Holtzman and Jesse Choper
each resigned today as a member of the board of directors of LQ Corporation,
Inc. (OTC:LQID) (BULLETIN BOARD: LQID)  (formerly named Liquid Audio, Inc.). 
Mr. Holtzman also resigned as our Co-Chief Executive Officer and James A.
Mitarotonda, formerly our Co-Chief Executive Officer, became our sole Chief
Executive Officer.  These resignations and appointment were made in connection
with a closing on May 20, 2004, of the transactions under a Securities Purchase
Agreement of the sale by Mr. Holtzman and an entity controlled by him of
237,750 of our common shares to Mr. Mitarotonda and a partnership controlled by
him, and 237,750 of our common shares to Ramius Securities, LLC, a shareholder
of our company.  These shares represented all of our common shares that were
owned by Mr. Holtzman and his affiliates.  Following this transaction, Mr.
Mitarotonda and entities controlled by him own 1,057,400 of our common shares,
or approximately 4.56% of our issued and outstanding common shares, and Ramius
and its affiliates own 987,700 of our common shares, or approximately 4.26% of
our issued and outstanding common shares, on the date hereof.

More detailed information about LQ Corporation, Inc. is set forth in its
filings with the Securities and Exchange Commission (the "SEC").  Investors and
security holders are urged to read those documents free of charge at the SEC's
Web site at http://www.sec.gov/.  Those documents may also be obtained free of
charge from LQ Corporation, Inc. 

DATASOURCE: LQ Corporation, Inc.



CONTACT:  Mel Brunt, LQ Corporation, Inc., [phone] 

Copyright