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EQUITEX BOARD AUTHORIZES SHARE REPURCHASE

 EQUITEX BOARD AUTHORIZES SHARE REPURCHASE
 ENGLEWOOD, Colo., Oct. 23 /PRNewswire/ -- Equitex Inc.


(NASDAQ-NMS: EQTX) announced today that its board of directors has authorized the repurchase of up to 1,000,000 shares of the company's common stock. These purchases will be made through open-market transactions from time to time which will commence as soon as the company has complied with the necessary regulatory requirements including directly notifying stockholders.
 The authorization was based on the board of directors determination that the stock is undervalued and is currently trading below net asset value.
 Equitex is a business development company under the Investment Company Act of 1940, as amended.
 -0- 10/23/92
 /CONTACT: Thomas B. Olson of Equitex, 303-796-8940/
 (EQTX) CO: Equitex Inc. ST: Colorado IN: SU:


MC -- DV001 -- 3998 10/23/92 08:45 EDT
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Publication:PR Newswire
Date:Oct 23, 1992
Words:134
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