Correcting and replacing figures in Consolidated Balance Sheets.

--(BUSINESS WIRE)--In BW1155 (EXECUTONE), EXECUTONE Information Systems, Inc. Announces Cancellation of Reverse Stock Split, correcting figures in Consolidated Balance Sheets; figures for TOTAL ASSETS should read $143,997, $152,009 (sted $67,107, $65,408); Total Liabilities should read 62,723, 66,662 (sted 14,034, 13,859); TOTAL LIABILITES AND EQUITY should read $143,997, $152,009 (sted 14,034, $13,859).

Corrected table follows:

 EXECUTONE INFORMATION SYSTEMS, INC.
 CONSOLIDATED BALANCE SHEETS

                                          March 31,   December 31,
 (In Thousands)                             1997         1996

 ASSETS
 Current Assets
   Cash and cash equivalents               $21,122      $27,696
   Accounts receivable, net                 34,635       38,992
   Inventories                              18,439       16,814
   Prepaid expenses and other current
    assets                                   2,694        3,099

      Total Current Assets                  76,890       86,601

 Restricted Cash                             5,052        5,031
 Property & Equipment, net                   7,241        7,578
 Intangible Assets, net                     19,861       19,893
 Deferred Taxes                             18,092       18,434
 Other Assets                               16,861       14,472

      TOTAL ASSETS                        $143,997     $152,009


 LIABILITIES AND STOCKHOLDERS' EQUITY

 Current Liabilities
   Current portion of long-term debt          $918         $882
   Accounts payable                         29,113       31,416
   Accrued payroll and related costs         3,639        3,398
   Accrued liabilities                      11,360       13,943
   Deferred revenue and customer deposits    3,659        3,164

      Total Current Liabilities             48,689       52,803

 Long-Term Debt                             13,685       13,837
 Long-Term Deferred Revenue                    349           22

      Total Liabilities                     62,723       66,662

 Stockholders' Equity
   Common stock                                495          512
   Preferred stock                           7,300        7,300
   Additional paid-in capital               71,545       76,113
   Retained earnings                         1,934        1,422

      Total Stockholders' Equity            81,274       85,347

   TOTAL LIABILITIES AND EQUITY           $143,997     $152,009

CONTACT: David Krietzberg [phone]