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CALL NOW, INC. HAS ANNOUNCED THE FOLLOWING TRANSACTIONS SUBJECT TO CLOSING CONDITIONS

MIAMI SHORES, Fla., March 8 /PRNewswire/ -- Call Now, Inc. (OTC Bulletin Board: CNOW) has agreed to purchase 150,000 shares of Class A Preferred Stock to be issued by Cable-Sat Systems, Inc. of San Jose, California for $3.00 per share. The shares are redeemable out of the proceeds of an initial public offering or private placement of Cable-Sat securities at $3.00 a share plus one share of Cable-Sat common stock .

Call Now, Inc. has agreed to exercise a stock purchase warrant to purchase 320,000 shares of Cable-Sat Systems, Inc. common stock at $.30 per share, increasing its holdings to 870,000 shares.

Call Now, Inc. has declared a dividend of certain of its shares of Cable-Sat Systems, Inc. common stock on the basis of one share of Cable-Sat common stock for each ten shares of Call Now common stock owned by its shareholders of record as of the close of business on March 12, 1996. As a result, Call Now will spin off approximately 724,370 shares of Cable-Sat and retain 145,630 shares.

Cable-Sat Systems, Inc. is a development stage corporation engaged in the development of digital image coding and data compression products. Such products are used in a wide variety of telecommunications, computer, satellite communications and video applications to enhance the quality, reliability and efficiency of electronic signal transmissions.
 -0- 3/8/96


/CONTACT: William M. Allen, President, 305-751-5115 or Joel Bernstein, 305-751-3008, both of Call Now, Inc./

(CNOW)

CO: Call Now, Inc.; Cable-Sat Systems, Inc. ST: Florida IN: CPR SU:

MS-KW -- FLF010 -- 1599 03/08/96 12:33 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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