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ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES PROPOSED $5,510,000 EQUITY FINANCING

 BURNABY, B.C., June 16 /PRNewswire/ -- Advanced Gravis Computer Technology Ltd. (TORONTO, VANCOUVER: AED; OTC BULLETIN BOARD: GRVSF) ("Gravis") of Burnaby, B.C. has engaged Loewen, Ondaatje, McCutcheon Limited (LOM) to act as agent in the private placement by Gravis of up to 1,900,000 Special Warrants priced at $2.90 per Special Warrant, to raise gross proceeds of $5,510,000. Closing of the Private Placement is expected to be on July 7, 1993.
 The Special Warrants will be qualified by Prospectus and each Special Warrant will be exchangeable into one common share, on or before October 15, 1993. The Company expects a Prospectus will be receipted before that date. However if not, then each of the Special Warrants will at the option of the holder be either redeemable or they will become exchangeable into 1.10 shares without further consideration.
 The placement is subject to regulatory approval and settlement of final documentation.
 Proceeds from the placement will be used in part to fund new product development and to supplement working capital.
 Advanced Gravis is a leading designer and manufacturer of high- quality entertainment devices for personal computers, including joysticks, PC GamePads, MouseSticks, and UltraSound sound cards.
 -0- 6/16/93
 /CONTACT: Grant Russell of Advanced Gravis, 604-431-5020/
 (AED, GRVSF)


CO: Advanced Gravis Computer Technology Ltd. ST: British Columbia IN: CPR SU:

MP -- NY026 -- 2541 06/16/93 10:40 EDT
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Date:Jun 16, 1993
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