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ADAGE FILES AMENDED 13D ON STERLING ELECTRONICS; SEEKS DISCUSSIONS ON MERGER POSSIBILITIES

 ADAGE FILES AMENDED 13D ON STERLING ELECTRONICS;
 SEEKS DISCUSSIONS ON MERGER POSSIBILITIES
 WEST CHESTER, Pa., Feb. 25 /PRNewswire/ -- Adage, Inc. (NASDAQ: ADGE), in a filing today of an amended 13D with the Securities and Exchange Commission, disclosed that it is seeking a meeting with the management of Sterling Electronics, Inc. (AMEX: SEC), to review its investment position in Sterling. Adage presently holds 202,700 shares, or a 5.03 percent equity position in Sterling Electronics. There are currently 4,030,063 Sterling shares outstanding.
 "Now that Adage has completed its merger with RELM Communications, Inc., we would like to explore with the management of Sterling whether any synergies exist between Sterling and RELM," said Robert H. Cahill, Adage president and chief executive officer.
 "RELM's 100,000-square-foot state-of-the-art electronics manufacturing facility in Melbourne, Fla., has production capacity of $100 million annually, providing room not only for internal expansion but for acquisition of similar product lines which can be manufactured there," added Cahill.
 Sterling Electronics, headquartered in Houston, is a distributor and manufacturer of electronic components. For its fiscal year ended March 31, 1991, Sterling had sales of $101,616,000, net income of $774,000, and shareholder equity of $12.7 million. For the six months ended Sept. 30, 1991, Sterling had revenues of $57,076,000 and net income of $399,000, or $.10 per share.
 RELM Communications, Inc., is a manufacturer of electronic communications equipment consisting of land mobile two-way radios, as well as electronic demand side management systems which enable utilities to better manage residential and commercial consumption of electricity. For its fiscal year ended June 30, 1991, RELM had revenues of $25,964,000, and a net loss of $4,063,000. For its six months ended Dec. 31, 1991, RELM had revenues of $12,806,288, and a net profit of $2,000.
 In addition to RELM, Adage, through various operating subsidiaries, is involved in the production of recycled paperboard and cold drawn steel, as well as electronic access control systems, and, following the RELM merger, is running at an annual revenue rate of $105 - $110 million, according to Cahill. "As previously stated, recycled paper products and sophisticated electronic equipment will remain the focus of Adage as we move forward," he added.
 -0- 2/25/92
 /CONTACT: Robert H. Cahill, president, or Robert T. Holland, chief financial officer of Adage, 215-430-3900/
 (ADGE SEC) CO: Adage, Inc.; Sterling Electronics, Inc. ST: Pennsylvania IN: SU:


GK-OS -- NY023 -- 2228 02/25/92 09:49 EST
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Publication:PR Newswire
Date:Feb 25, 1992
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