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GROWTH ENVIRONMENTAL TO OFFER UP TO $6,000,000 OF COMMON STOCK

 WESTMONT, Ill., June 7 /PRNewswire/ -- Growth Environmental, Inc. (GEI), announced that it has signed a letter of intent with Minneapolis- based Summit Investment Corp. to serve as underwriter in a planned offering of approximately $6,000,000 of new common stock. Summit Investment Corp. has also acted as selling agent for a private placement of $1,500,000 in short-term bridge notes which was completed June 4, 1993.
 Proceeds of the offering will be used to expand the operations of the company's principal subisidiaries, U.S. Environmental Consulting, Inc. and Quality Analytical Labs, Inc.; to retire certain existing debt; and to be available for future acquisitions.
 Separately, GEI announced the completion of the acquisition of Tooke Northeast, Inc., a Mt. Pleasant, Mich., environmental engineering/consulting/remediation company, in a transaction where 100 percent of the common stock of Tooke has been exchanged for two notes, one of which is convertible to common stock in GEI.
 GEI has also signed a purchase agreement to acquire the remaining 49 percent of the stock in Quality Analytical Labs, Inc., its analytical division.
 GEI plans to apply for listing of its common stock on NASDAQ in conjunction with the contemplated public offering.
 Growth Environmental, Inc. is an environmental consulting, engineering, remediation and analysis company which operates through two subsidiaries, Quality Analytical Labs, Inc. and U.S. Environmental Consulting, Inc.
 -0- 6/7/93
 /CONTACT: Alvin K. Eaton, chief executive officer of Growth Environmental, Inc., 708-986-8522/


CO: Growth Environmental, Inc. ST: Illinois IN: ENV SU: OFR

TM -- NY087 -- 6255 06/07/93 17:35 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
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