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HOME SHOPPING BOARD GIVES CONDITIONAL APPROVAL TO PSi SPIN-OFF

 HOME SHOPPING BOARD GIVES CONDITIONAL APPROVAL TO PSi SPIN-OFF
 ST. PETERSBURG, Fla., June 17 /PRNewswire/ -- Home Shopping Network, Inc. (NYSE: HSN) announced that its board of directors in its meeting yesterday approved the distribution of all of the capital stock of Precision Systems, Inc. (PSi) to HSN's shareholders.
 The distribution is subject to certain contingencies, including but not limited to the effectiveness of the Form 10 registration statement filed with the Securities and Exchange Commission for the transaction. Although no record date or distribution date has been set by the company, it is expected that the spin-off will take place within a few months.
 PSi, a wholly owned subsidiary of HSN, develops, produces and markets a fully integrated call and processing platform and its component systems. PSi's voice processing platform provides the means to manage telephone calls and collect, organize and distribute digitized speech and other data electronically. The value of the distribution to HSN's shareholders is estimated to be approximately $25 million.
 Jerry Troupe, chairman of PSi, said, "The spin-off will put PSi in the position to take advantage of marketplace opportunities in a highly technical atmosphere." He added, "As an independent company, PSi expects to expand its product and attract the personnel necessary to build the company into a powerful force in the voice processing industry."
 Roy M. Speer, chairman and chief executive officer of HSN, said, "We are pleased to be able to declare this distribution to HSN's shareholders. We believe that the separation of PSi's high-tech business from HSN's telemarketing operations will simplify the valuation of HSN's common stock in the marketplace and improve shareholder value."
 -0- 6/17/92
 /CONTACT: Home Shopping Network corporate communications department, 813-572-8585, ext. 7420/
 (HSN) CO: Home Shopping Network, Inc. ST: Florida IN: REA SU:


JB-JJ-SS -- FL004 -- 0990 06/17/92 10:13 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
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