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AMERICAN BIODYNAMICS SHAREHOLDERS APPROVE MOVE OF COMPANY AND NAME CHANGE

 AMERICAN BIODYNAMICS SHAREHOLDERS APPROVE
 MOVE OF COMPANY AND NAME CHANGE
 TAMPA, Fla., June 1 /PRNewswire/ -- American Biodynamics, Inc. (NASDAQ: BDYN) today announced that shareholders, at its annual meeting held May 29, 1992, overwhelmingly approved resolutions to change the domicile of the firm from British Columbia, Canada to Florida. Management of the company anticipates the move of the company into Florida will eliminate the duplication of securities compliance and reporting issues, and thereby reduce administrative costs to the shareholders.
 As a result of this move change, the company's name is changed to Biodynamics International, Inc.
 In the election for management's director nominees, 85.2 percent of the total shares outstanding voted either in person or by proxy, with 77 percent voting for management's nominees. As a result of the affirmative vote of the shareholders, John V. Hargiss, president of the company, Donald Archibald, and David Raftery were installed as directors of Biodynamics International, Inc.
 Following the change of name and redomicile of the company, the NASDAQ trading symbol will be BDYN. Management noted that current shareholders are not required to surrender their shares to reflect either the name change, new Florida corporate status, or the new trading symbol. The company's registrar and transfer agent has been authorized by management to continue to honor all existing share certificates, thereby reducing administrative expenses for the shareholders.
 Hargiss, president, said, "Management appreciates the support and confidence of the shareholders. Biodynamics International will continue its efforts to enhance shareholder value through streamlining the organization as well as increasing market share and introducing new tissue allograft products."
 Biodynamics International, Inc. provides high quality surgical products to the neurosurgical, orthopedic, and plastic and reconstructive surgical specialties. The company is a Florida corporation with its executive offices in Tampa, Fla.
 -0- 6/1/92
 /CONTACT: John V. Hargiss, president and CEO, or Marti Bruce, controller of Biodynamics International, Inc., 813-979-0016/
 (BDYN) CO: Biodynamics International, Inc. ST: Florida IN: MTC SU:


JB-AW -- FL012 -- 5788 06/01/92 14:27 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
Words:331
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