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SEISMED INSTRUMENTS INCORPORATED ANNOUNCES CORPORATE DEVELOPMENTS

 SEISMED INSTRUMENTS INCORPORATED ANNOUNCES CORPORATE DEVELOPMENTS
 MINNEAPOLIS, Sept. 2 /PRNewswire/ -- Seismed Instruments Incorporated (NASDAQ: SEISC) announced today several corporate developments.
 It has entered into a letter of intent with Miller, Johnson & Kuehn Incorporated with respect to a proposed best-efforts public offering of a minimum of 1,000,000 and a maximum of 1,750,000 shares of its common stock. This offering will replace the public offering previously announced by the company. The company anticipates that the proposed offering will commence during the first half of October, 1992. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the prospectus may be obtained from Miller, Johnson & Kuehn Incorporated, 1660 South Highway 100, Suite 228, St. Louis Park, Minn. 55416, 612-544-6660.
 The company has obtained additional bridge financing and is arranging for further bridge financing to provide for its capital needs until the anticipated completion of the public offering. The successful completion of both the bridge financing and the public offering are required for the continuation of the company's operations. The company has also taken steps to reduce the rate of its expenditures. These steps include a reduction since April in the number of employees of approximately 30 percent.
 Seismed Instruments also has engaged Vector Securities International, Inc. to assist the company in exploring strategies intended to maximize shareholder value. These strategies could include establishment of one or more corporate strategic alliances for the development and marketing of the company's products with one of more companies that possess complementary strengths, a sale of the company or the private placement of the company's equity securities.
 Robert A. Van Tassel, M.D., has been elected chairman of the board of directors of the company. Van Tassel has served on the company's board since February, 1988. He is consulting cardiologist at the Minneapolis Heart Institute and Abbott Northwestern Hospital.
 Sandra J. Garlough, president and chief executive officer of the company, stated: "We believe that these measures are necessary in light of today's very difficult market for raising capital. Our intent is to maintain the company's ability to develop its products and introduce them to the market, while seeking either the additional capital that will be required for successful, full-scale market introduction or the assistance of a corporate partner. While no one can assure our success, we believe that the value of the company's technology will be demonstrated."
 Seismed Instruments develops, produces and markets proprietary cardiology instrumentation and software based on seismocardiography technology. The company's SCG-2000 is an instrument used in conjunction with routine stress electrocardiography testing to noninvasively diagnose coronary artery disease.
 -0- 9/2/92
 /CONTACT: Sandra J. Garlough, president and chief executive officer of Seismed Instruments, 612-473-5151/
 (SEISC) CO: Seismed Instruments, Inc. ST: Minnesota IN: MTC SU: OFR PER


AL -- MN014 -- 6004 09/02/92 14:57 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
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