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BASE TEN SYSTEMS ISSUES THIRD QUARTER REPORT

 BASE TEN SYSTEMS ISSUES THIRD QUARTER REPORT
 TRENTON, N.J., Sept. 23 /PRNewswire/ -- Base Ten Systems, Inc.'s


(NASDAQ-NMS: BASEA) president's third quarter letter to shareholders was mailed today.
 The text of the letter follows:
 Net earnings for the third quarter were $220,000 or $.06 per share on revenues of $3.5 million compared with a loss of $764,000 or $.22 loss per share on revenues of $5.7 million in the third quarter of 1991. Net earnings for the nine month period were $504,000 or $.14 per share on revenues of $14.1 million compared with a loss of $5.7 million or $1.62 loss per share on revenues of $20.8 million in the first nine months of 1991. The improvement is primarily due to the benefits derived from the restructuring which took place late last year.
 The Company's program to reduce short term debt has resulted in a current balance of $850,000 which compares favorably with the outstanding balance of $3.0 million at the end of 1991.
 During July and August PRENVAL(TM) medical software was formally submitted to the FDA in two forms. PRENVAL(TM) is a software driven technique dedicated to Down's syndrome and Neural Tube Defect risk evaluation in pregnancy. The first form covered both medical aberrations, the second, Neural Tube Defect only. We believe PRENVAL(TM) is the first medical software submitted in accordance with recent FDA guidelines.
 In furtherance of our plans to grow in the medical software market, we are delighted to announce that we have reached an agreement in principle with Dr. Nicholas Wald, an internationally respected medical researcher, to consult for our medical software business. Dr. Wald has done fundamental research in prenatal screening and testing for fetal defects and has pioneered computer assisted test interpretation in medical practice.
 Base Ten's entry into the commercial world took a step forward with the completion of the design, development, and delivery of power converters for commercial satellites under a $960,000 contract. We believe this work qualifies us to participate further in what we forecast to be a growing market. In addition, the secure communications business continues to advance with the recent award of $4 million (including options, if exercised) for test systems.
 Lt. Gen (Ret.) John Crosby, President of CII and a leader in army artillery technology, has agreed to consult for the Company so we may take advantage of new opportunities we see in the military markets, including both national and international programs. While we are not prepared to declare a revitalization of the defense business, recent requests for proposals are encouraging.
 On September 8, 1992, the Company's Registration Statement filed with the Securities and Exchange Commission became effective. A subsequent mailing to shareholders and warrant holders of record on September 8, 1992 contained copies of the prospectus and notification that the Company is issuing to holders of its outstanding Class A and Class B Common Stock and holders of its Class A Common Purchase Warrants, at no cost, rights ("Series A Rights") to purchase shares of Class A Common Stock and rights (the "Series B Rights") to purchase additional shares of Class A Common Stock upon the expiration of the Series A Rights (the "Series A Rights Offering"). The Series A Rights Offering entitles holders of the Company's Class A and Class B Common Stock and holders of the Class A Common Purchase Warrants to one right to purchase one share of Class A Common Stock and one Series B Right at $3.00 for each five shares of Common Stock owned or purchasable upon the exercise of the Class A Common Purchase Warrants on September 8, 1992 (the "Record Date"). The Series A Rights will expire on November 9, 1992 (the "Expiration Date"), unless extended. The Series B Rights will be issued to exercising holders of Series A Rights, giving such holders the right to purchase an additional share of Class A Common Stock at $6.00 per share during the two years following the Expiration Date of the Series A Rights.
 It is with great sadness that we note the sudden death, in July, of William Mount Errickson, one of the three founders of Base Ten. Until his retirement in February, Bill was an officer and director of the Company and retained an active interest in Company affairs. He was instrumental in the Company's growth and is sorely missed.
 We are confident in our ability to successfully implement our business plan and think we have chosen growth areas for investment which are compatible with our expertise. We all believe in the future and are most grateful for the loyalty of our long term shareholders and the confidence of our new ones.
 /delval/
 -0- 9/23/92
 /CONTACT: Myles M. Kranzler of Base Ten Systems, 609-586-7010, or Richard Cooper of Strategic Growth International, 212-826-9622, for Base Ten Systems/
 (BASE) CO: Base Ten Systems, Inc. ST: New Jersey IN: CPR SU:


MP -- PH037 -- 2740 09/23/92 15:14 EDT
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Publication:PR Newswire
Date:Sep 23, 1992
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