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ADVANCED MATERIALS ACQUIRES 25.1 PERCENT OF INNOVATIVE TECHNOLOGIES

 CARSON, Calif. Sept. 21 /PRNewswire/ -- Advanced Materials Group (OTC: ADMG) announced the acquisition of a 25.1 percent interest in U.K.-based Innovative Technologies. The purchase price was $2.175 million in cash for common stock received and loans made to Innovative Technologies.
 Innovative is a leading hydrophilic polyurethane materials company. Innovative has successfully developed polymers for the medical, military and industrial markets.
 "We are pleased to become a partner with the leading hydrophilic polyurethane company in the world. We believe we can further strengthen the relationship between the two companies in developing the market under license," stated Michael W. Crow, chairman of Advanced Materials Group. AMG currently has an exclusive worldwide license to develop waterproof, breathable fabrics. Target markets include consumer active apparel, sporting goods and industrial barrier coatings. Total estimated, market potential is estimated to be $2-$3 billion according to company officials.
 AMG recently acquired an interest in Time Release Sciences, the leading hydrophilic polyurethane foam manufacturer. AMG is also in discussions to acquire the additional interests not currently held in Time Release Sciences.
 AMG is a leading manufacturer and fabricator of polymers, foams, foils, films and pressure sensitive adhesive composites to industrial customers. AMG intends to become the leading industrial producer of technical foams, foam composites and related special polymeric systems, specifically hydrophilic polyurethanes used in waterproof, breathable fabrics.
 -0- 9/21/93
 /CONTACT: Michael W. Crow, chairman and chief executive officer, 619-929-7222, or 310-549-5444, or Steve Scott, president, 310-549-5444/


CO: Advanced Materials Group, Innovative Technologies ST: California IN: CHM SU: TNM

NY-JB -- SD005 -- 4208 09/21/93 13:29 EDT
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Publication:PR Newswire
Date:Sep 21, 1993
Words:266
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