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GO VIDEO ANNOUNCES APPROVAL OF LINE OF CREDIT

 GO VIDEO ANNOUNCES APPROVAL OF LINE OF CREDIT
 SCOTTSDALE, Ariz., Oct. 22 /PRNewswire/ -- GO Video, Inc. (AMEX:


VCR), the patent holder of the Dual-Deck VCR (TM), today announced the approval by Congress Financial Corporation of a $6.5 million line of credit which is to be used to finance GO Video's anticipated sales growth. (Congress Financial is an asset-based lender with assets of more than $2 billion, and is subsidiary of CoreStates Financial, a bank holding company with greater than $23 billion in assets.) Congress has agreed to provide funds which will enable GO Video to meet the increasing volume demands of its customers: the retailers, catalogers and direct mailers.
 Robert Palko, president and chief operating officer, said, "This $6.5 million line of credit added to working capital of $5.8 million at the July 31, 1992 fiscal year end, will enable GO Video to meet the growing demand for Dual-Deck VCRs by its current retailer customers and to offer new models to a wider range of retailers. The increased capital should facilitate significant revenue growth in fiscal 1993 accompanied by profitability."
 R. Terren Dunlap, chairman and chief executive officer, added, "Establishment of this line of credit by Congress Financial Corporation is confirmation of GO Video's sound financial condition, credit worthiness and business progress.
 -0- 10/22/92
 /CONTACT: R. Terren Dunlap, chairman and CEO of GO Video, 602-998-3400/
 (VCR) CO: Go Video, Inc. ST: Arizona IN: HOU SU: FNC


KD-EE -- NY032 -- 3394 10/22/92 10:01 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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