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COLORADO MEMORY SYSTEMS FILES FOR INITIAL PUBLIC OFFERING OF 5,400,000 SHARES OF COMMON STOCK

 COLORADO MEMORY SYSTEMS FILES FOR INITIAL PUBLIC OFFERING
 OF 5,400,000 SHARES OF COMMON STOCK
 LOVELAND, Colo., June 24 /PRNewswire/ -- Colorado Memory Systems, Inc. today announced that it has filed a registration statement with the Securities and Exchange Commission (SEC) with respect to a proposed initial public offering of 5,400,000 shares of common stock. The offering price of the stock is expected to be between $13 and $15 per share. The offering will be managed by Morgan Stanley & Co. Incorporated, Montgomery Securities and Cowen & Company.
 The company will offer 3,600,000 shares to the public and certain of its stockholders will offer 1,800,000 shares. The U.S. Underwriters will offer 4,400,000 shares in the United States and Canada, and the International Underwriters will offer 1 million shares outside the United States and Canada. The net proceeds to the company will be used to retire debt, to build new facilities and for general corporate and working capital purposes.
 Colorado Memory Systems designs, develops, manufactures, markets and provides customer support for QIC (quarter inch cartridge) tape backup systems used primarily to back up and archive data and software for IBM and compatible personal computers. The company offers two product lines: Jumbo and QFA (Quick File Access). The Jumbo line includes two models offering backup capacities of 120 or 250 megabytes on a single removable cartridge. The QFA system is designed to back up as much as 700 megabytes per cartridge.
 Copies of the Prospectus relating to the offering may be obtained from Morgan Stanley & Co. Incorporated, 1251 Avenue of the Americas, New York, N.Y. 10020; Montgomery Securities, 600 Montgomery Street, San Francisco, Calif. 94111; or Cowen & Company, One Financial Square, New York, N.Y. 10005.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 6/24/92
 /CONTACT: John J. Moinester of Colorado Memory Systems, 303-635-6455/ CO: Colorado Memory Systems Inc. ST: Colorado IN: SU: OFR


TS -- NY010 -- 3172 06/24/92 09:36 EDT
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Publication:PR Newswire
Date:Jun 24, 1992
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