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BUTLER INTERNATIONAL, INC. ANNOUNCES CAPITAL INVESTMENT

 BUTLER INTERNATIONAL, INC. ANNOUNCES CAPITAL INVESTMENT
 MONTVALE, N.J., Oct. 27 /PRNewswire/ -- Butler International, Inc. (NASDAQ-NMS: BUTL) announced today that it had recently sold $2.3 million of Preferred Stock. Specifically, the company sold two issues:
 -- Series A 7-1/2 percent Senior Cumulative Convertible Preferred
 Stock in the amount of $1.5 million, and
 -- Series B 7 percent Cumulative Convertible Preferred Stock in the
 amount of $0.8 million.
 The investment banker for the transactions was Emanuel and Company of New York.
 Edward M. Kopco, chairman and CEO of Butler, stated, "The sale of both issues of Preferred Stock marks a 'first for the company' since its reorganization in 1989 and represents a significant step in the company's ability to raise equity funds. Proceeds of these sales will be used for general operating purposes and acquisitions."
 Butler Service Group, Inc. is a domestic and international contract technical services company. It is principally engaged in the location, recruitment and hiring of a wide variety of skilled engineers and technical personnel to provide services, on a temporary basis, to industrial corporations and other organizations throughout the U.S. and abroad.
 -0- 10/27/92
 /CONTACT: Cathy D. Shea of Butler International, 201-573-8000/
 (BUTL) CO: Butler International, Inc. ST: New Jersey IN: SU:


CN -- NE021 -- 5440 10/27/92 13:06 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 27, 1992
Words:219
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