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BIOMAGNETIC TECHNOLOGIES INC. ANNOUNCES PUBLIC OFFERING OF COMMON STOCK

 BIOMAGNETIC TECHNOLOGIES INC.
 ANNOUNCES PUBLIC OFFERING OF COMMON STOCK
 SAN DIEGO, May 8 /PRNewswire/ -- Biomagnetic Technologies Inc. (NASDAQ: BTIX) today announced the public offering of 1,500,000 shares of common stock at a price of $9.75 per share. All shares are being offered by the company. The company will have approximately 9,736,350 shares of common stock outstanding after the offering. PaineWebber Inc. and Kidder, Peabody & Co. Inc. are co-managing the offering in the United States. PaineWebber International and Kidder, Peabody International Ltd. are co-managing the offering outside of the United States.
 The company expects to use the net proceeds of the offering to support commercial product and clinical applications development, capital equipment expenditures and general corporate purposes.
 Biomagnetic Technologies Inc. has developed and currently manufactures and markets a medical diagnostic device, the Magnes(R) biomagnetometer system, which noninvasively detects and images bioelectrical activity associated with the functional operation of the brain and heart.
 Copies of the prospectus can be obtained from the office of PaineWebber Inc., 1285 Avenue of the Americas, New York, NY 10019 or Kidder, Peabody & Co. Inc., 10 Hanover Square, New York, NY 10005.
 -0- 5/8/92
 /CONTACT: Stephen O. James or William L. Stephan of Biomagnetic Technologies Inc., 619-453-6300/
 (BTIX) CO: Biomagnetic Technologies Inc. ST: California IN: MTC SU: OFR


KJ-EH -- SD001 -- 7928 05/08/92 07:31 EDT
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Publication:PR Newswire
Date:May 8, 1992
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