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STARSTREAM, OTI SIGN STOCK PURCHASE AGREEMENT; SHAREHOLDERS MEETING SET FOR JANUARY 1993; OTI RECEIVES $6.1 MILLION IN STATE FUNDS

STARSTREAM, OTI SIGN STOCK PURCHASE AGREEMENT; SHAREHOLDERS MEETING
 SET FOR JANUARY 1993; OTI RECEIVES $6.1 MILLION IN STATE FUNDS
 HOUSTON, Oct. 12 /PRNewswire/ -- Starstream Communications Group Inc. (NASDAQ: SCGI) announced today that it has signed the stock purchase agreement for the acquisition of Oliver Transportation Inc. (OTI) and set the shareholders meeting to approve the acquisition for some time in January of 1993. The company also announced that OTI received $6.1 million in a low-interest loan from the state of Missouri.
 The funds are part of a community assistance and development program referred to as "Mo Bucks-Mo Grow" and were granted to OTI as an inducement to remain in the state of Missouri to preserve the 244 jobs of OTI's personnel. The funds will be used by OTI to expand its operations which have doubled in the last three years.
 On Aug. 5, 1992, Starstream announced that it had signed a letter of intent to acquire all of the issued and outstanding shares of capital stock of Oliver Transportation Inc. in a tax-free exchange for shares of Starstream's common stock. The terms are for Starstream to issue approximately 70 percent of its common stock in exchange for OTI's shares after closing the definitive agreement. There are certain contingencies in the terms providing for OTI to receive an additional 10 percent in 24 months after the closing if Starstream does not meet certain funding requirements. The terms also provide for OTI to be the surviving company and to change the name of the publicly traded company to OTI Corp.
 OTI, a privately held Missouri corporation, has built a 44-year reputation of providing specialized flatbed truck transportation services to the refractory, steel, aluminum, metal-building and building materials industries operating in 48 states of the continental United States.
 Starstream is engaged primarily in the production and distribution of audio cassettes, LPs and compact discs in Poland, customized music-oriented publications in the United States and nationally sponsored radio promotion in the United States.
 -0- 10/12/92
 /CONTACT: Fran Daniels of Financial Sciences of America, 310-278-4413, for Starstream/
 (SCGI) CO: Starstream Communications Group Inc.; Oliver Transportation Inc. ST: Texas, Missouri IN: REA TRN SU: TNM


LS-BP -- LA002 -- 8761 10/12/92 09:30 EDT
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Date:Oct 12, 1992
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