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CPT HOLDINGS CLASS A COMMON STOCK AND CLASS B COMMON STOCK CONVERTS INTO NEW COMMON STOCK TO BE INCLUDED IN NASDAQ SMALL CAP MARKET

CPT HOLDINGS CLASS A COMMON STOCK AND CLASS B COMMON STOCK CONVERTS INTO
 NEW COMMON STOCK TO BE INCLUDED IN NASDAQ SMALL CAP MARKET
 WASHINGTON, Sept. 29 /PRNewswire/ -- CPT Holdings, Inc. (NASDAQ: CPTH) announced that its stockholders approved, at a special meeting of stockholders held today, an amendment to the company's Articles of Incorporation that eliminates the two classes of the company's common stock and that converts all outstanding shares of the company's Class A Common Stock and Class B Common Stock into shares of new "common stock." The conversion of the Class A and Class B shares into shares of common stock became effective this afternoon when the approved amendment to the company's Articles of Incorporation was filed and recorded with the appropriate authorities in Minnesota, the company's state of incorporation.
 Shares of the Class A Common Stock and Class B Common Stock were the subject of a 1-for-11 reverse stock split that was effected Sept. 11, 1992. The amendment approved and filed today causes each "post-split" share of Class A or Class B automatically to be converted into one share of common stock.
 The new common stock will be included in the NASDAQ System, which is also known as the NASDAQ Small Cap Market, under the symbol CPTH. Shares of Class A and Class B (including shares outstanding before the 1-for-11 reverse split of the Class A and Class B effected Sept. 11, 1992) will evidence the appropriate number of shares of common stock until they are exchanged. The company's transfer agent will mail to record stockholders materials to accomplish that exchange.
 The company announced that other proposed amendments to its Articles of Incorporation, including a proposal to authorize five million shares of preferred stock, received insufficient votes for approval at the special meeting of stockholders held today.
 The company, with headquarters in Washington, is the successor to CPT Corporation, which was headquartered in Eden Prairie, Minn. Through CPT Office Systems, the company continues to develop, market and support the computer and word processing systems and other products of CPT Corporation. Another subsidiary of the company is currently marketing imaging products that were developed by CPT Corporation. Yet another subsidiary, Brighton Electric Steel Casting Company, is the leading domestic manufacturer of steel piercer points, which are used in the manufacture of stainless steel tube products.
 -0- 9/29/92
 /CONTACT: Joe Kycek of CPT Holdings, 612-949-1819/
 (CPTH) CO: CPT Holdings, Inc. ST: Washington, D.C.; Minnesota IN: CPT SU:


AL -- MN012 -- 4564 09/29/92 17:18 EDT
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Publication:PR Newswire
Date:Sep 29, 1992
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