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INTERNATIONAL NURSING SERVICES INTENDS TO ACQUIRE HMF HOLDINGS AND GENESIS INTEGRATED SYSTEMS

 INTERNATIONAL NURSING SERVICES INTENDS TO ACQUIRE HMF HOLDINGS AND
 GENESIS INTEGRATED SYSTEMS
 MINNEAPOLIS, Aug. 19 /PRNewswire/ -- International Nursing Services, Inc. (NASDAQ: INUR), a Denver based public corporation, today announced it has entered into non-binding letters of intent to acquire all of the outstanding capital stock of HMF Holdings, Inc., and Genesis Integrated Systems, Inc.
 International Nursing Services, Inc. ("INS"), established in 1988, is a Colorado corporation providing registered nurses (RNs) and health care staffing services, including daily staff relief, to Denver-area hospitals and nursing homes. INS also provides long-term hospital placement of traveling domestic and foreign RNs.
 HMF Holdings, Inc. ("HMF"), a Minnesota based holding company, is the sole shareholder of Hayne, Miller & Farni, Inc., a full service stock brokerage and investment banking firm, and Hayne, Miller & Farni Insurance Services, Inc., a recently formed insurance company offering major medical, dental, life, disability, and estate planning.
 Genesis Integrated Systems, Inc. ("GIS"), markets a variety of CD-ROM drives and CD-ROM software for the desktop, multimedia and information markets. Headquartered in Minneapolis, GIS distributes its products in the United States and internationally through independent distributors, OEMs, computer stores, retail chains and value-added resellers.
 The proposed transactions are subject to negotiation and execution of definitive agreements and to obtaining necessary regulatory and shareholder approvals and requisite financing. If the acquisitions take place as contemplated, the HMF shareholders would own approximately 50 percent of INS' common stock, and the current INS shareholders and the Genesis shareholders would each own approximately 25 percent of INS' common stock.
 In connection with the proposed acquisitions, International Nursing Services, Inc., plans to reorganize as a holding company which will operate all three divisions as wholly owned subsidiaries. The holding company, in addition to further developing the businesses of its subsidiary companies, intends to pursue additional opportunities through mergers and acquisitions.
 -0- 8/19/92
 /CONTACT: John Yeros, president of INS, 303-393-1515 or 1-800-326-8773; Megan Moriarty of Hayne, Miller & Farni, Inc., 612-339-1200 or 1-800-829-3339; or Richard G. Marklund, chairman and CEO of GIS, 612-544-4445/
 (INUR) CO: International Nursing Services, Inc.; HMF Holdings, Inc.;
 Genesis Integrated Systems, Inc. ST: Minnesota, Colorado IN: HEA SU: TNM


TM-GK -- NY077 -- 1540 08/19/92 20:44 EDT
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Publication:PR Newswire
Date:Aug 19, 1992
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