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DANKA REACHES AGREEMENT TO PURCHASE OMNIFAX

 ST. PETERSBURG, Fla., Sept. 1 /PRNewswire/ -- Danka Business Systems PLC (NASDAQ: DANKY) announced today that it has entered into an agreement with Telautograph Corporation ("Telautograph"), an indirect wholly owned subsidiary of Arden Group, Inc. (NASDAQ-NMS: ARDNA), to acquire substantially all the assets of Telautograph's Omnifax facsimile equipment business ("Omnifax") for $33.2 million, subject to closing and post closing adjustments and certain additional contingent consideration.
 Omnifax is one of the largest independent retail and wholesale suppliers of facsimile equipment and related service, parts and supplies in the United States and had revenue of approximately $69 million in its most recent fiscal year. Headquartered in Los Angeles, Calif., Omnifax sells its trademarked Omnifax brand name facsimile equipment primarily to business and institutional customers from 51 branch offices throughout the United States and Canada. The transaction is expected to close in September 1993 subject to the approval of certain regulatory agencies.
 Additionally, Danka announced that its primary lenders have agreed to increase its credit facility from $53 million to $78 million. A portion of the credit facility will be used to finance the Omnifax acquisition.
 -0- 9/1/93
 /CONTACT: William T. Freeman, 813-576-6003, or Paul G. Dumond, 011-44-71-935-4650, both of Danka Business Systems/
 (DANKY ARDNA)


CO: Danka Business Systems PLC; Arden Group, Inc.; Telautograph
 Corporation ST: Florida IN: SU: TNM


SB -- CH002 -- 7928 09/01/93 11:35 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
Words:228
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