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COGNITRONICS WILL REPURCHASE UP TO 100,000 ADDITIONAL SHARES OF ITS COMMON STOCK

 STAMFORD, Conn., July 29 /PRNewswire/ -- Cognitronics Corporation (AMEX: CGN) said today that its Board had authorized the repurchase of up to an additional 100,000 shares of its common stock.
 Since May 1993, the company has repurchased 77,000 shares under an authorization by the Board in May to repurchase up to 100,000 shares.
 The price of Cognitronics' common stock closed at $4 on Wednesday, July 28, 1993. There are 3,207,169 common shares of Cognitronics outstanding.
 "Management and directors of Cognitronics believe that its shares continue to be undervalued and represent an investment opportunity that will enhance stockholder value," said Matthew J. Flanigan, president and chief executive officer.
 The company said that the additional shares would be purchased from time to time at prices then prevailing in open market transactions and block purchases on the American Stock Exchange or in privately negotiated transactions. Any repurchased shares will be retained as treasury shares for future purposes.
 Cognitronics is a leading manufacturer and supplier of voice processing equipment, including telephone network and call management announcement products and interactive voice response (IVR) systems, to telephone operating companies, original equipment manufacturers and commercial end-users.
 -0- 7/29/93
 /CONTACT: Harold Mayer of Cognitronics Corporation, 203-327-5307/
 (CGN)


CO: Cognitronics Corporation ST: Connecticut IN: TLS SU:

SM -- NY084 -- 7300 07/29/93 14:34 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
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