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ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES LONG-TERM DEBT CONVERSION AND WARRANT EXERCISE TOTALING $4,890,000

 BURNABY, British Columbia, May 4 /PRNewswire/ -- Advanced Gravis Computer Technology Ltd. ("Gravis") (OTC Bulletin Board: GRVSF; Toronto, Vancouver: AED) announced the completion of a series of transactions that included the sale by Logitech International S.A. ("Logitech") of $2,340,000 of convertible debt in Gravis, the subsequent conversion of the debt into shareholders' equity and the exercise of warrants ($2,550,000) by Logitech related to the convertible debentures.
 As a result of this transaction Gravis has received $2,550,000 in new funds from the exercise of the warrants. From these proceeds Gravis has repaid a $500,000 short term loan from Logitech.
 In summary, the impact on Gravis' balance sheet is an increase of $4,890,000 in shareholders' equity, a decrease of $2,340,000 in long- term debt, a decrease of $500,000 in short-term notes payable, and an increase in cash of $2,050,000. A total of 5,727,274 new shares were issued as a result, bringing the total number of shares outstanding to 15,215,644. Logitech now owns approximately 45.1 percent of the currently issued and outstanding common shares.
 The net result of this transaction is a significant improvement in the balance sheet of Gravis, additional working capital and a major reduction in interest expense. Gravis is now better positioned to finance its continued rapid growth in revenues.
 Advanced Gravis is a leading designer and manufacturer of high- quality entertainment devices for personal computers, including joysticks, PC GamePads, MouseSticks, and UltraSound.
 -0- 5/4/93
 /CONTACT: Grant Russell, president of Advanced Gravis Computer Technology Ltd., 604-431-5020/
 (GRVSF)


CO: Advanced Gravis Computer Technology Ltd.;
 Logitech International S.A. ST: British Columbia IN: CPR SU:


JL-MS -- LA042 -- 4466 05/04/93 15:42 EDT
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Publication:PR Newswire
Date:May 4, 1993
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