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APPOINT TECHNOLOGIES ABANDONS PLANS

 PLEASANTON, Calif., Oct. 7 /PRNewswire/ -- Appoint Technologies Inc. (NASDAQ: APNT) ("Appoint" or "the company") announced this morning that the company has abandoned its previously announced plans to acquire AMT International Industries Inc. ("AMT") of Huntington Beach, Calif.
 The original acquisition agreement (dated May 6, 1993) expired on July 31, 1993. Discussions with AMT have been continuing, pending receipt of satisfactory audited financial statements for AMT. Those statements have not been provided by AMT. According to a company spokesman, "We are concerned that AMT's performance has not met expectations and have concluded that the acquisition is no longer in the best interest of Appoint's shareholders."
 In January 1993, Appoint provided a working capital advance of $300,000 to AMT. An additional advance of $500,000 was made in June. Appoint's loan is secured by a security interest in all of AMT's assets. On Oct. 6, the company notified AMT that it was in default of certain provisions of the loan agreement. The company is currently reviewing its options with respect to the loan.
 -0- 10/7/93
 /CONTACT: Joseph C. Picken, president and CEO, Appoint Technologies, 805-239-8976, or 510-463-3003; or Shannon T. Squyres, Corporate Relations Group, 714-955-1860/
 (APNT)


CO: Appoint Technologies Inc.; AMT International Industries Inc. ST: California IN: SU: TNM

JB-LM -- LA037 -- 9847 10/07/93 15:37 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
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