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SELVAC CORPORATION REPORTS FIRST QUARTER EARNINGS; BOARD APPROVES BUYBACK OF 1 MILLION SHARES

 MARLBORO, Mass., Oct. 28 /PRNewswire/ -- Selvac Corp. (NASDAQ: SLVC) reported today revenues for the first quarter ending August 31, 1993 of $1,366,801, net income $55,084, or $0.00 per share, compared with revenues of $1,447,435, net income of $102,731, or $0.01 per share, for the first quarter of 1992. The Company continues to carry no long term debt and working capital of $1.8 million, with a current ratio of over 5:1.
 Board Approves Purchase Of 1 Million Common Shares
 The Selvac Corporation Board of Directors has approved the purchase of up to 1 million shares of the Company's Common Stock in the open market and in privately negotiated transactions. This action, taken by the Board, represents the continuation of a buyback program initiated in 1990. The Company has purchased and retired in excess of 900,000 shares to date.
 Selvac Corporation, based in Marlboro, Massachusetts, is comprised of two divisions: the personal care division, which owns, distributes and markets a line of personal care and beauty products internationally; and the home entertainment emporium concept, Video Knights(R), a wholly owned subsidiary which rents and sells videotapes, laser discs, video games and audio books through its four company owned sites. Video Knights has commenced a franchising operation in Maryland and Virginia. Selvac Corporation is a listed issue trading on the NASD Small Cap Market(R).
 SELVAC CORP.
 Summary Financial Information
 Periods ended First Quarter
 Sept. 30 1993 1992
 Net Sales $1,366,801 $1,447,435
 Net Earnings 55,084 102,731
 Earnings per Common Share $ .00 $ .01
 Weighted Average Shares 15,520,008 15,778,397
 -0- 10/28/93
 /CONTACT: Allan Borkowski, Chairman of Selvac, 508-481-9495 or Anthony J. DiMaio of Anthem Communications, 212-943-8998/
 (SLVC)


CO: Selvac Corp. ST: Massachusetts IN: HOU SU: ERN

LG-TA -- NY033 -- 7787 10/28/93 10:19 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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