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ADVANCED GRAVIS COMPUTER TECHNOLOGY ANNOUNCES AMENDED TERMS TO PROPOSED CONVERTIBLE DEBENTURE FINANCING WITH LOGITECH INTERNATIONAL

 ADVANCED GRAVIS COMPUTER TECHNOLOGY ANNOUNCES AMENDED TERMS TO PROPOSED CONVERTIBLE DEBENTURE FINANCING WITH LOGITECH INTERNATIONAL
 VANCOUVER, British Columbia, March 18 /PRNewswire/ -- Advanced Gravis Computer Technology Ltd. (Toronto, Vancouver: AED) ("Gravis") and Logitech International S.A. ("Logitech") jointly announced that they have agreed to amend the terms of a letter of intent in respect of a Cdn $1,500,000 convertible debenture financing announced March 13, 1992. The conversion price and warrant exercise price has been amended such that the private placement will now consist of a secured convertible debenture in the amount of Cdn $1,500,000 bearing interest at 10 percent per annum, payable quarterly as previously announced, however the debenture will now be convertible into 1,363,637 shares of Gravis at a conversion price of $1.10. In addition, Logitech will receive a five- year warrant as previously announced, however, the warrant will now entitle Logitech to purchase up to 1,363,637 shares at an exercise price of Cdn $1.10 during the first year, $1.20 during the second year, $1.30 during the third year, $1.40 during the fourth year and $1.50 during the fifth year of the term of the warrant. The issuance of the convertible debenture and the warrant to Logitech remain subject to the parties concluding a formal agreement concerning the terms and conditions of the convertible debenture and the warrant, receipt of all regulatory and governmental approvals and shareholder approval, as may be required.
 As disclosed on March 13, 1992, after giving effect to this transaction, Logitech would own 4,000,000 common shares of Gravis, a debenture in the principal amount of Cdn $840,000, convertible into 1,500,000 common shares of Gravis, a warrant for the purchase of 1,500,000 common shares of Gravis at a price of $0.70 per share, the convertible debenture and the warrant described above and a secured promissory note in the principal amount of Cdn $500,000. If all securities held by Logitech would own approximately 64.6 percent of the then issued and outstanding common shares of Gravis.
 Proceeds from this private placement will be used to supplement working capital and launch its new PC Sound Card, UltraSound, in May 1992.
 Gravis designs, manufactures and markets high-quality microcomputer input devices, including the Gravis analog and switch joysticks and an optical MouseStick for the Macintosh and IBM PC platforms as well as a new 16 bit, 32 voice sound card for the IBM PC.
 Logitech manufactures and markets a variety of input pointing devices and related software applications for both IBM and Macintosh platforms. Logitech, the financial holding company for the Logitech Group, is traded publicly in Switzerland. With operational headquarters in Fremont, California; Hsinchu, Taiwan; and Cork, Ireland; and offices in major cities in the United States, Europe, and the Far East.
 -0- 3/18/92
 /CONTACT: Grant Russell, president of Advanced Gravis Computer Technology Ltd., 604-434-7274/
 (AED.) CO: Advanced Gravis Computer Technology Ltd.;
 Logitech International S.A. ST: British Columbia IN: CPR SU:


EH-JL -- LA029 -- 9453 03/18/92 18:45 EST
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Date:Mar 18, 1992
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