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STANDARD LOGIC ANNOUNCES NEGOTIATIONS UNDERWAY FOR THIRD-PARTY FINANCING TO COMPLETE APPOINT ACQUISITION

 STANDARD LOGIC ANNOUNCES NEGOTIATIONS UNDERWAY
 FOR THIRD-PARTY FINANCING TO COMPLETE APPOINT ACQUISITION
 ANAHEIM, Calif., Sept. 2 /PRNewswire/ -- Standard Logic Inc. (NASDAQ: STDL) today announced that negotiations are underway for third-party financing which may permit the completion of the proposed merger between Standard Logic's wholly owned subsidiary and Appoint Inc.
 An undisclosed third-party investment group has proposed to purchase up to $3 million principal amount convertible debentures of Standard Logic. The proposal contemplates that such debentures would be convertible into approximately 6 million shares of Standard Logic common stock. Proceeds of the debenture sale would be loaned by Standard Logic to Appoint for working capital purposes and to pay down outstanding trade payables.
 The proposal contemplates that if the merger with Appoint is not completed by Dec. 31, 1992, or the merger becomes inadvisable in the sole judgment of the investment group, then convertible debt securities of Appoint would be substituted for the group's investment in Standard Logic and the agreement regarding the proposed merger between Standard Logic's wholly owned subsidiary and Appoint would be terminated.
 In such event, the loans made by Standard Logic to Appoint in the approximate principal amount of $1,729,000 (including interest thereon) would be converted into convertible debt securities of Appoint on the same terms as the investment group's debt securities, less the $750,000 which would be paid to Standard Logic upon termination of the proposed merger with Appoint.
 The above financing proposal is subject to the investment group's satisfactory completion of its due diligence review, completion and approval of definitive agreements, and certain third-party consents. In addition, an increase in Standard Logic's authorized number of shares will be required.
 The agreement for the financing transaction are expected to be executed by mid-September 1992 (at which time the investment group will purchase a portion of the Standard Logic debentures); provided that the conversion feature of the Standard Logic debentures will be subject to the approval by Standard Logic's shareholders of the required increase in Standard Logic's authorized number of shares. Standard Logic will seek such approval at the same time its shareholders are requested to approve the merger with Appoint.
 -0- 9/2/92
 /CONTACT: Wes Baumgardner, CEO of Standard Logic, 714-632-9292; or Shannon T. Squyres of Corporate Relations Group, 714-955-1860, for Standard Logic/
 (STDL) CO: Standard Logic Inc. ST: California IN: SU: FIN


BP-EH -- LA019 -- 6000 09/02/92 14:43 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
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