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ANAGO SUES TECNOL MEDICAL PRODUCTS FOR OVER $70 MILLION

 ANAGO SUES TECNOL MEDICAL PRODUCTS FOR OVER $70 MILLION
 FORT WORTH, Texas, Aug. 18 /PRNewswire/ -- Timothy J. McKibben, chairman of the board and president of Anago Inc., a privately-held manufacturer of disposable medical products, announced that Anago has sought leave to amend its lawsuit against Tecnol Medical Products, Inc. (NASDAQ: TCNL) and has increased its total claims to in excess of $70 million in damages. In January of 1992, Tecnol began making a series of investments in Anago, in an attempt to force a merger between the two firms. However, Tecnol failed to gain over 50 percent of the voting stock necessary to force the merger.
 Anago's amended complaint seeks not only damages from Tecnol, but includes claims against several other individuals and organizations that are already alleged to have conspired against Anago. "Since Tecnol has agreed to indemnify most of the parties involved, the potential liability facing Tecnol is in excess of $70 million," McKibben explained. The amended complaint adds several additional charges to Anago's previous complaint, including claims for tortious interference, breach of contract, breach of fiduciary duty and breach of a court ordered standstill agreement.
 McKibben said, "Since Tecnol failed in its efforts to purchase the swing vote of stock required to take control of Anago, we have braced ourselves financially for a long court battle that could likely last into 1996." He continued, "Our company has the overwhelming support of our shareholders, customers, employees and vendors. This support has been further secured by the record financial performance the company has experienced over the past several quarters."
 Anago, Inc., headquartered in Fort Worth develops, manufactures, and markets disposable medical products, primarily for use in hospital operating rooms. The company's principal product groups include surgical face masks, high filtration isolation masks, cold therapy products, operating room apparel and orthopedic surgical extremity drapes.
 -0- 8/18/92
 /CONTACT: Timothy J. McKibben, chairman of the board, president or J. Randall Keene, chief financial officer, 817-284-1345, both of Anago Inc./
 (TCNL) CO: Anago Inc.; Tecnol Medical Products, Inc. ST: Texas IN: HEA SU:


DC -- NY062 -- 1053 08/18/92 15:28 EDT
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Publication:PR Newswire
Date:Aug 18, 1992
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