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BELMAC ANNOUNCES 3.75 MILLION SHARES SOLD IN PRIVATE PLACEMENT

 TAMPA, Fla., June 1 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) announced today it has sold 3.75 million shares of common stock in private placement transactions primarily to European investors. In addition Belmac intends to sell an additional 1.75 million shares to other European investors from which it has received commitments upon attaining American Stock Exchange listing approval. The shares sold and to be sold to these investors are at prices ranging from $1.00 to $1.38 per share. During the offering period the stock traded as low as $1.625.
 Belmac has also entered into an agreement to sell an aggregate of 3 million shares to ENG Energy Inc. and DelRay Properties Inc. (both of which are not affiliates of Belmac or each other) subject to the American Stock Exchange listing approval. The shares to be sold under this transaction will be sold at $1.25 per share and will not be freely tradeable. However, with respect to 1.5 million of the shares Belmac has agreed to provide the purchasers with on demand registration rights commencing eight months after sale.
 The proceeds from these transactions will be used for working capital and will give Belmac the opportunity to strategically pursue its growth plans for 1993.
 Belmac is an international pharmaceutical and health care company based in Tampa, Fla.
 -0- 6/1/93
 /CONTACT: Jill Figueredo or Bob Moody of Belmac Corporation, 813-286-4401/
 (BLM)


CO: Belmac Corporation ST: Florida IN: MTC SU:

JB-AW -- FL005 -- 4118 06/01/93 16:33 EDT
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Publication:PR Newswire
Date:Jun 1, 1993
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