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TSS LTD. ANNOUNCES SIGNING OF STATEMENT OF INTENT FOR PRIVATE PLACEMENT

 WESTPORT, Conn., Dec. 7 /PRNewswire/ -- TSS Ltd. (NASDAQ: TSSL) announced today that it has signed a statement of intent with a New York firm to represent the company in a private placement of $1.5 million - $3 million principal amount of convertible subordinated debentures to finance the expansion of the company's in-store marketing programs and to provide working capital. The debentures are convertible into common stock of the company. The private placement is expected to close by Dec. 31, 1993; however, there can be no assurance that such private placement will be completed in accordance with its present terms or at all.
 The company made this announcement in response to numerous inquiries made to the company concerning the heavy trading in its common stock yesterday. According to John Hochstein, Chief Financial Officer, "There have been no changes in the company's business that would warrant this activity."
 TSS Ltd. is a provider of consumer promotion, information, and transaction services delivered in retail stores through a network of proprietary kiosk terminals.
 -0- 12/7/93
 /CONTACT: John Hochstein, senior vice president of TSS, 203-226-5144; or John Swanson of Swanson Communications, 212-683-4890/
 (TSSL)


CO: TSS Ltd. ST: Connecticut IN: REA SU:

GK-PS -- NY079 -- 1395 12/07/93 15:36 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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