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BOWMAR INSTRUMENT CORP. ANNOUNCES PREFERRED CONVERSION PRICE

 BOWMAR INSTRUMENT CORP. ANNOUNCES PREFERRED CONVERSION PRICE
 PHOENIX, Aug. 6 /PRNewswire/ -- Bowmar Instrument Corp. (AMEX: BOM) today announced that it had set the conversion price of the senior voting cumulative convertible preferred stock ("convertible preferred stock") being offered in exchange for the company's convertible subordinated debentures, which exchange offering commences on Friday, Aug. 7, 1992, and expires on Sept. 21, 1992. Each share of convertible preferred stock will be convertible into 13.33 shares of Bowmar common stock, which amounts to a conversion price of $1,875 per common share based on the liquidation preference and redemption value of the preferred of $25 per share.
 As previously announced, Bowmar is offering 40 shares of convertible preferred stock for each $1,000 principal amount of convertible debentures, and the convertible preferred stock will have an annual cumulative dividend of $2.44, yielding approximately 9.76 percent. The convertible preferred stock is not subject to mandatory redemption and will be non-callable until Jan. 1, 1998, and will be callable thereafter only at the company's option.
 The company is offering to exchange up to $3.5 million principle amount of debentures and the exchange is conditioned upon at least $2.5 million principle amount being tendered to the exchange agent, American Stock Transfer Co. The company reserves the right to accept more than $3.5 million principle amount of debentures if submitted for exchange. At the present time there are approximately $5.4 million principle amount of debentures outstanding.
 Bowmar, which is headquartered in Phoenix, manufactures and sells electronic and electromechanical products with specific applications in the aerospace, electronic, computer and communications industries. The company's manufacturing facilities are located in Fort Wayne, Ind., and Phoenix.
 -0- 8/6/92
 /CONTACT: Thomas K. Lanin of Bowmar Instrument, 602-957-0271/
 (BOM) CO: Bowmar Instrument Corp. ST: Arizona IN: CPR ARO SU:


JL-AL -- LA003 -- 7443 08/06/92 09:10 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
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