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Correcting and Replacing Tenney Engineering release issued earlier today.

UNION, N.J.--(BUSINESS WIRE)--Nov. 22, 1996--Robert S. Schiffman, president and chief executive officer of Tenney Engineering Inc. announced that the privately owned company that has been manufacturing test equipment under license granted December 1992 has paid, during the month of November 1996, license fees in the amount of $575,500.

This amount represents the balance remaining of the $1,900,000 maximum total license fees payable under the License Agreement. In addition, the Licensee has exercised its option to purchase from the company certain trademarks for consideration of $100,000.

Tenney Engineering Inc. is in the business of manufacturing diversified vacuum systems for space simulation, optic coating and plasma treatment for medical labware; and servicing, refurbishing, upgrading and installing environmental test equipment.

Editors: Tenney Engineering Inc. is quoted on the Nasdaq Stock Market OTC Bulletin Board under the symbol "TNGI."

CONTACT: Tenney Engineering

Martin Pelman, 908/686-7870
COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Article Type:Correction Notice
Date:Nov 22, 1996
Words:149
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