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CST ENTERTAINMENT IMAGING INC. COMPLETES $3.75 MILLION PRIVATE PLACEMENT AS NEW TECHNOLOGY RESULTS IN IMPROVED BACKLOG AND OUTPUT

CST ENTERTAINMENT IMAGING INC. COMPLETES $3.75 MILLION PRIVATE PLACEMENT
 AS NEW TECHNOLOGY RESULTS IN IMPROVED BACKLOG AND OUTPUT
 LOS ANGELES, May 28 /PRNewswire/ -- CST Entertainment Imaging Inc. (AMEX: CLR) today reported that Eurocapital Ltd. has advised that the final stage of a $3.75 million private placement of securities of CST has been completed. The proceeds have been used and earmarked by the company for working capital and the acquisition of more equipment to increase production of its All Digital System.
 Orders for the new work consisting of multifilm and television packages are in the process of being finalized with domestic and foreign companies. These long-term projects will extend CST's current backlog from one year to 18 months, ensuring a continuity of production through 1993.
 Gerald Shefsky, chairman and chief executive officer, stated, "We are very pleased with the buildup of production over the last quarter. Most of the technical and retraining problems associated with the conversion from an analog to an all-digital system are now behind us. We now anticipate ever-growing profitability throughout the year.
 "The company is confident that the opportunities and the demand (including color conversion of theatrical films, cartoon and television libraries, special effects, graphics and animation) for production generated by an all-digital system will continue to grow significantly in the future. The company will be able to profitably provide the highest quality production, at competitive prices, needed to fill the increasing worldwide demand for broadcast programming.
 "CST Entertainment Imaging Inc. is now uniquely positioned to fill syndication and programming requirements, especially in the European market, which has shown a definite lack of interest in black-and-white packages," Shefsky added.
 -0- 5/28/92
 /CONTACT: Gerald Shefsky, chairman and CEO of CST Entertainment Imaging, 310-417-3444; or Donald Reynolds of Reynolds Associates, 310-275-9024, for CST Entertainment Imaging/
 (CLR) CO: CST Entertainment Imaging Inc.; Eurocapital Ltd. ST: California IN: ENT SU:


DM-KJ -- LA003 -- 4622 05/28/92 10:01 EDT
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Publication:PR Newswire
Date:May 28, 1992
Words:322
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