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ACORN ANNOUNCES THAT IT HAS PURCHASED, THROUGH ITS SUBSIDIARY AVCC, DATA ACCESS SYSTEMS

 ACORN ANNOUNCES THAT IT HAS PURCHASED, THROUGH ITS SUBSIDIARY AVCC,
 DATA ACCESS SYSTEMS
 POMPANO BEACH, Fla., Aug. 21 /PRNewswire/ -- Acorn Venture Capital Corporation (NASDAQ: AVCC) announced that through its newly formed subsidiary, AVCC, Inc., it has purchased all of the outstanding stock of Data Access Systems, Inc. ("DASI"), which is in the business of designing and marketing computer display terminals for use with Burroughs mainframes, from Authorized Distribution Network, Inc., a publicly held corporation which filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. Stephen A. Ollendorff, president of Acorn, stated (i) that DASI, as a wholly owned subsidiary of ADN, had never been involved in ADN's bankruptcy proceedings and has always been operating on the strength of its own operations, (ii) in addition to the purchase price, Acorn has committed to contribute to DASI sufficient working capital to meet its present capital needs, and (iii) DASI has signed agreements with the present management team in order to insure operational continuity. Ollendorff noted that this acquisition meets the objectives of Acorn in acquiring controlling positions in emerging companies.
 Acorn is a business development company whose stock is traded on NASDAQ under the symbol AVCC.
 -0- 8/21/92
 /CONTACT: Stephen A. Ollendorff of Acorn Venture Capital, 212-481-9500/
 (AVCC) CO: Acorn Venture Capital Corporation; Data Access Systems, Inc. ST: Florida IN: FIN SU: TNM


SH-OS -- NY042 -- 2170 08/21/92 13:39 EDT
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Publication:PR Newswire
Date:Aug 21, 1992
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