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BIOPLASTY, INC. FILES PLAN OF REORGANIZATION

 MINNEAPOLIS, Aug. 31 /PRNewswire/ -- Bioplasty, Inc. announces that in connection with its Chapter 11 bankruptcy and within the statutory exclusivity period allowed under the Federal Bankruptcy Code, a single Plan of Reorganization was filed with the Federal Bankruptcy Court on Aug. 27, 1993, for Bioplasty, Inc.; Uroplasty, Inc.; and Bio- Manufacturing, Inc.
 In general terms, the proposed plan provides for the cancellation of all existing common stock, and for the offering of stock in the reorganized company to the existing shareholders at $.50 per share. Proceeds from the offering and the remaining stock would be used to satisfy creditor obligations.
 Under the plan, the record date for the offering of stock is Oct. 1, 1993.
 -0- 8/31/93
 /CONTACT: Daniel G. Holman, president and CEO of Bioplasty, 612-378-1180, or (fax) 612-378-2027/


CO: Bioplasty, Inc. ST: Minnesota IN: MTC SU:

KH-DB -- MN008 -- 7535 08/31/93 13:21 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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