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GENETIC LABORATORIES HAS ACCEPTED THE RESIGNATION OF HOLMAN FROM THE BOARD OF DIRECTORS

 ST. PAUL, Minn., July 16 /PRNewswire/ -- Genetic Laboratories Wound Care, Inc. today reported that the company accepted the resignation of Daniel G. Holman as a member of the board of directors, effective immediately. On his letter of resignation, Holman stated that he disagreed with certain actions taken by the board of directors, including the appointment of John Olson as an additional director and the approval of executive employment agreements between the company and Arthur A. Beisang as chief executive officer, and Dr. Robert Ersek as medical director of the company. Olson, who was appointed a director of the company in November 1992, negotiated the employment agreements on behalf of the company.
 The company's Chief Executive Officer, Beisang, said that the board of directors believes that the appointment of Olson as a director of the company, and the approval of the executive employment agreements with Beisang and Ersek are in the best interests of the company and its shareholders.
 Genetic Laboratories Wound Care, Inc., is engaged in the business of manufacturing and marketing wound care products.
 -0- 7/16/93
 /CONTACT: Arthur Beisang, chief executive officer, of Genetic Laboratories Wound Care, 612-633-0805/


CO: Genetic Laboratories Wound Care, Inc. ST: Minnesota IN: MTC SU: PER

DB -- MN019 -- 2668 07/16/93 17:09 EDT
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Publication:PR Newswire
Date:Jul 16, 1993
Words:212
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