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HEARx TO REDUCE EXERCISE PRICE OF PUBLICLY TRADED WARRANTS

 HEARx TO REDUCE EXERCISE PRICE OF PUBLICLY TRADED WARRANTS
 WEST PALM BEACH, Fla., Aug. 31 /PRNewswire/ -- Paul A. Brown, M.D., chairman of HEARx Ltd. (OTC Bulletin Board: EARS), announced today that the exercise price of the company's 1,650,000 publicly traded warrants had been reduced to $.80 from $2.00 until Sept. 30, 1992. The warrantholders may buy one share of HEARx common stock at the reduced price for each warrant until that date. The reported closing bid and asked prices of the HEARx common stock on Aug. 27, 1992, was $.97 and $1.00 per share.
 The warrants, which were scheduled to expire in February 1993, have been called for redemption at a price of $.0001 per warrant on Oct. 20, 1992. After Sept. 30, 1992, the exercise price of each warrant will revert to $2.00 per share until the warrants become void after the redemption date. A prospectus describing these transactions is being sent to each warrantholder. The warrants were originally sold as part of a unit with common stock in the company's public offering which was completed in February 1988.
 Brown stated that the proceeds from the exercise of the warrants would be utilized to establish additional centers. He also stated that the company had retained the services of shareholder communications corporation to aid the company in contacting warrantholders to make them aware of the offering.
 HEARx Ltd., the nation's largest network of independent auditory vestibular rehabilitative centers, has comprehensive state-of-the-art facilities offering a full range of diagnostics and rehabilitative services, and currently operates 30 locations in New York, Florida, Georgia, Virginia and Oregon. HEARx currently has strategic alliances with Humana Health Care Plans, Aetna Health Care Plans of New York, AARP Pharmacy Service and Minnesota Mining and Manufacturing (3M).
 -0- 8/31/92
 /CONTACT: Paul A. Brown, M.D., chairman of the board of HEARx, 407-478-8770; or Edward Silverman of Silverman Heller & Bond, 212-682-9222, for HEARx/
 (EARS) CO: HEARx Ltd. ST: Florida IN: HEA SU:


GK-SM -- NY081 -- 5170 08/31/92 17:50 EDT
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Publication:PR Newswire
Date:Aug 31, 1992
Words:341
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