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WANG CAUTIONS INVESTORS

 LOWELL, Mass., March 16 /PRNewswire/ -- Wang Laboratories, Inc. today said that it had requested that all exchanges on which the company's securities are traded delay the reopening of trading until 9:30 a.m. EST on Wednesday, March 17, 1993. The company said it had made the request in order to allow the complete dissemination of the company's significant announcement earlier today regarding the plan of reorganization in its Chapter 11 case, and to allow the securities markets to digest the information in the announcement. The American Stock Exchange has advised the company that trading in the Class B and Class C common stock on the exchange will continue only through March 31, 1993, after which the company's common stock will be delisted.
 Wang said that its announcement earlier today contained the following information regarding the treatment of the company's common stock in the plan of reorganization:
 The holders of Wang's current Class B and C common stock, who will be treated the same under the plan, will be issued seven-year warrants to purchase, on a fully diluted basis, 20 percent of the common stock in the reorganized company. The warrants will be exercisable at a price which will be set in such a manner as to allow the creditors who are issued common stock in the reorganization to recover 95 percent of their claims before the exercise price of the warrant equals the trading price of the common stock. It is anticipated that, when initially issued to creditors, the new common stock will be worth substantially less than 95 percent of the creditors' claims. Accordingly, the warrant value per share of presently outstanding Wang B and Wang C common stock is not expected to be more than a few cents at the time the warrants are initially issued.
 The company stated that neither the final valuation of the warrants nor the timing of their distribution under the plan of reorganization can be predicted precisely. The company noted, however, that when trading in the company's common stock was halted yesterday by the American Stock Exchange, its Class C common stock closed at 2-5/8 and its Class B common stock closed at 1. Wang cautioned that, in view of the discrepancy between these trading prices and the possible valuation discussed in its announcement earlier today, investors should carefully consider the information contained in the announcement, as well as the then-current market price, before trading in Wang stock.
 -0- 3/16/93
 /CONTACT: Frank Ryan, 508-967-7038, or Ed Pignone, 508-967-4912, both of Wang Laboratories, Inc./
 (WAN)


CO: Wang Laboratories, Inc. ST: Massachusetts IN: CPR SU:

SM-AH -- NY076 -- 6764 03/16/93 17:12 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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