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A.L. LABORATORIES RECEIVES SHAREHOLDER APPROVAL OF PROXY MEASURES AND DECLARES REGULAR QUARTERLY DIVIDEND

 FORT LEE, N.J., May 19 /PRNewswire/ -- A.L. Laboratories, Inc. (NYSE: BMD) announced that at its annual meeting held today it had received shareholder approval for the election of eight directors to serve for a term expiring at the 1994 annual meeting of shareholders; and for authority to amend the company's 1983 incentive stock option plan.
 The company also announced that its board of directors declared a regular quarterly cash dividend of $.045 per common share. The dividend is payable July 2, 1993 to all shareholders of record as of June 22, 1993.
 The eight directors elected were Messrs. E. W. Sissener, I. Roy Cohen, Glen E. Hess, Oscar W. Kaalstad, William S. Leonhardt, Sivert A. Nielsen, James Balog and Thomas G. Gibian. Messrs. Balog and Gibian were elected by holders of the class A shares of the company. All of the remaining directors were elected by A. L. Oslo, the holder of the class B shares. All of the directors reelected have been directors of the company since 1983, except for Mr. Gibian. Mr. Gibian was elected to the position previously held by Mr. Charles A. Specht, who passed away earlier this year.
 The amendments approved to the company's 1983 incentive stock option plan were to increase the maximum number of shares available under the plan, and to extend the time permitted under the plan to grant options until September 1998.
 At the annual meeting, the management of the company also provided an update on the previously announced study of a possible combination of A.L. Laboratories with related businesses of A.L. Oslo, the controlling shareholder and owner of all of the class B shares of the company. The company advised that over the course of the last 12 months, the company's special committee and its advisors have met numerous times with representatives of A.L. Oslo to discuss possible structures for a combination transaction, potential benefits of a combination, financial data and other matters. However, although the companies believe that a combination of businesses would be beneficial, no decision has been made on a specific structure, and there has been no meeting of the minds on valuation issues. It is the present thinking that if a transaction is to be proposed, the resulting combined entity would be A.L. Laboratories or a successor U.S. corporation. Recent discussions have focused on a combination involving the pharmaceutical and worldwide animal health businesses of A.L. Oslo. There is no assurance that any proposed transaction will result from the study. The company also confirmed, as previously announced, that any combination involving the companies would be submitted to a vote of the holders of company's class A common stock.
 A.L. Laboratories is a multinational manufacturer and marketer of specialized and value-added branded pharmaceuticals and animal health micronutrients, with plant sites in Illinois, Maryland, New Jersey, New York, North Carolina, Washington State, Denmark and Indonesia.
 -0- 5/19/93
 /CONTACT: Iris D. Daniels, investor relations manager of A.L. Laboratories, 201-947-7774, or David Walke of Morgen-Walke Associates, 212-986-5900, for A.L. Laboratories, Inc./
 (BMD)


CO: A.L. Laboratories, Inc. ST: New Jersey IN: MTC SU: PER

LD -- NY093 -- 0501 05/19/93 17:34 EDT
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Publication:PR Newswire
Date:May 19, 1993
Words:536
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