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AMERICAN EDUCATIONAL PRODUCTS, INC. ANNOUNCES ACQUISITION AGREEMENT IN PRINCIPLE

 BOULDER, Colo., Nov. 17 ~PRNewswire~ -- American Educational Products, Inc. (NASDAQ: AMEP) announced today the signing of a non- binding letter of intent to purchase substantially all the assets of Redco Science, a manufacturer and distributor of supplemental educational materials located in Oxford, Conn. Redco Science specializes in physical science and physics products for classroom use and has projected 1992 sales in excess of $1 million.
 The company expects to complete this transaction by year-end 1992 subject to various approvals and conditions and will consolidate virtually all of the Redco operations into its Hubbard Scientific subsidiary. John Rizza, president of Redco Science, will join American Educational Products and focus his efforts on continued product development.
 Paul Whittle, president of American Educational Products, said, "This acquisition is consistent with our stated objective of acquiring well-positioned educational product companies with strong proprietary product lines."
 -0- 11~17~92
 ~CONTACT: Paul D. Whittle, CEO, or John E. Panasewicz, CFO of American Educational Products, 303-443-0020; or Anthony J. DiMaio of Anthem Communications, 212-943-8998, for American Educational Products~
 (AMEP)


CO: American Educational Products, Inc. ST: Colorado IN: SU: TNM

CK -- NY046 -- 1841 11~17~92 12:26 EST
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Publication:PR Newswire
Date:Nov 17, 1992
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