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CHRISTIAN PURCHASING NETWORK INC. COMPLETES $3,000,000 SUBSCRIPTION

 SARASOTA, Fla., Feb. 22 /PRNewswire/ -- Christian Purchasing Network Inc. (CPN) (NASDAQ: CPNI) today announced that it has received funds and completed a subscription for 750,000 units comprised of one share of the company's common stock and four shares of the company's newly designated 8 percent Convertible Redeemable Cumulative Preferred Stock for $3,000,000. The 750,000 shares of common stock included in the units is being contributed from three founders of the company in proportion to their holdings for no consideration. Thomas J. McElheny, president and chief executive officer, commented, "We are pleased that in our second year as a public company our balance sheet and business prospects for the future are strong."
 CPN is a niche marketer of financial services and capital goods to the Christian community. Its financial services division provides investment advisory and portfolio management services to institutional and individual investors. CPN's church products division brokers select value-added goods and services to the church market through group pricing and service contracts. CPN, founded in 1989, is headquartered in Sarasota.
 -0- 2/22/93
 /CONTACT: Thomas J. McElheny president and chief executive officer of the Christian Purchasing Network, 813-366-5775/
 (CPNI)


CO: Christian Purchasing Network ST: Florida IN: FIN SU:

PK-TM -- SF003 -- 0018 02/22/93 12:54 EST
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Publication:PR Newswire
Date:Feb 22, 1993
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