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MANAGEMENT TECHNOLOGIES CLOSES ON $2 MILLION PRIVATE PLACEMENT

 MANAGEMENT TECHNOLOGIES CLOSES ON $2 MILLION PRIVATE PLACEMENT
 NEW YORK, March 3 /PRNewswire/ -- Management Technologies, Inc. (MTI) (NASDAQ: MTCI, MTCIW), a leading provider of software and services for international banking, closed Friday, Feb. 28 on $2 million from a private placement conducted by D.H. Blair & Co.
 MTI will use the funds to pay off past indebtedness, increase its working capital, and expand sales and marketing of its advanced banking systems, said Anthony J. Cataldo, who was named MTI's president in November. Cataldo, who has 15 years' experience in the sales of large- scale banking systems, had been president of Internet Japan before joining MTI. The company has hired additional sales professionals and is increasing its marketing. In addition, MTI renegotiated outstanding notes to Blair for $1.35 million to mature May 1, 1994.
 -0- 3/3/92
 /CONTACT: Tom Groenfeldt of Management Technologies, 212-239-8224/
 (MTCI) CO: Management Technologies, Inc. ST: New York IN: SU:


PS -- NY011 -- 4297 03/03/92 08:00 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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