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AMERICAN FILM TECHNOLOGIES ANNOUNCESAGREEMENT WITH INVESTOR FOR EQUITY INVESTMENT

 LOS ANGELES, Sept. 30 /PRNewswire/ -- American Film Technologies Inc. (NASDAQ: AFTI) announced today it has entered into an agreement under which New York investor Gerald M. Wetzler will acquire controlling interest in the company.
 Under the terms of the agreement, Wetzler has purchased 1 million shares of preferred stock which is convertible into common stock of the company. The preferred stock will be divided into four series, each convertible at Wetzler's discretion, over a period of time at increasing exercise prices. Upon conversion of the first and second series of preferred stock, Wetzler would invest approximately $3.3 million in the company and receive approximately 75 percent of the company's common stock.
 Wetzler has been a private investor since 1975. After receiving his juris doctor from Columbia Law School, he practiced law from 1962 to 1966 at Cahill, Gordon & Reindel. In 1967, he received a master of laws from Harvard Law School. He worked in the corporate finance department of Lehman Brothers for five years and served as general counsel for Beker Industries Corp.
 American Film Technologies Inc. is headquartered in Los Angeles with offices in New York and Philadelphia and production facilities in San Diego and Tijuana. The company is the dominant supplier of film coloring services in the entertainment industry. It also produces integrated digital animation and special effects for television and feature films.
 -0- 9/30/93
 /CONTACT: Arthur P. Hartel, president & CEO, 215-688-1322/
 (AFTI)


CO: American Film Technologies Inc. ST: California IN: ENT SU:

LS-MF -- LA011 -- 7100 09/30/93 08:03 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
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