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PRINCETON ELECTRONIC PRODUCTS ANNOUNCES LAND ACQUISITION

 PHOENIX, Oct. 1 /PRNewswire/ -- Princeton Electronic Products Inc. (NASDAQ: PELT), a 24-year-old diversified company, today announced that it has exchanged 600,000 shares of its common stock for one and one-half acres of property located in Phoenix. The property is recorded in the National Register of Historical Properties and has an appraised value of $680,000. The acquisition will increase Princeton's net worth by approximately 20 percent. The company is developing plans to further enhance the value of the property.
 Dale Eyman, chairman of the board of Princeton, said, "We see this as an excellent opportunity to acquire a piece of property which will greatly increase in value. Once again, this move demonstrates Princeton's objective to expand its assets and build a strong balance sheet."
 Princeton Electronic Products Inc., headquartered in Phoenix, is a highly diversified company that specializes, through its subsidiaries, in innovative products, financial services, and venture capital.
 -0- 10/1/93
 /CONTACT: Dale E. Eyman, chairman, Princeton Electronic Products, 800-966-7865; or Shannon T. Squyres, president, Corporate Relations Group, 714-955-1860/
 (PELT)


CO: Princeton Electronic Products Inc. ST: Arizona IN: CPR SU: TNM

LS-MF -- LA005 -- 7674 10/01/93 09:30 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
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