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DAVSTAR UPDATES STATUS OF DRISTAR(TM) AND CENSLIDE(R) PRODUCTS

DAVSTAR UPDATES STATUS OF DRISTAR(TM) AND CENSLIDE(R) PRODUCTS
    NEWPORT BEACH, Calif., July 7 /PRNewswire/ -- Jerry B. Silver, president and chief executive officer of Davstar Industries Ltd. (AMEX: DVS) announced today that plastic molding and production models for the company's DRISTAR(TM) urinary incontinence system have been completed, and that production equipment for the DRISTAR system has been ordered.  Silver stated, "With the progress made to date, we hope to receive FDA approval and commence commercial production of the DRISTAR product before the end of 1992."  The DRISTAR system consists of an absorbent pad, tubing, vacuum pump and holding unit designed to eliminate the wetness and odor common to most patients suffering from urinary incontinence.  Hospital Specialty Company, a division of the Tranzonic Companies (AMEX: TNZ), will manufacture the absorbent padding.
    Silver also announced that commercial production and distribution of Davstar's CenSlide(R) plastic centrifuge tube and CenSlide 60(TM) Centrifuge is expected to begin this month.  "We are finalizing distribution arrangements now, and will be announcing distribution agreements as they are signed," said Silver.
    Davstar completed its fiscal year on June 30 and expects to announce year-end results in September.  For the period ended March 31, 1992, Davstar reported a third quarter loss of $536,000 ($0.07 per share) and a nine-month loss of $1,365,000 ($0.19 per share).  Silver stated, "We anticipate a further loss for the fourth quarter because of the continued expensing of the costs of bringing our medical products to market."
    Davstar develops and markets proprietary, non-invasive medical and laboratory products, and manufactures molded plastic products and components for commercial, industrial and consumer applications.
    Direct all inquiries to Roberta Stauffer, c/o Davstar Industries Ltd., One Newport Place, 1301 Dove St., Suite 360, Newport Beach, Calif., 92714, or call 714-852-8492.
    -0-             07/07/92
    CONTACT:  Roberta Stauffer of Davstar Industries, 714-852-8492
    (DVS TNZ) CO:  DAVSTAR INDUSTRIES LTD. IN:  MTC ST:  CA -- LA018 -- X802  07/07/92
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Publication:PR Newswire
Date:Jul 7, 1992
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