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DATAMAP, INC. COMPLETES FIRST STAGE OF $4.4 MILLION FINANCING

 MINNEAPOLIS, Aug. 11 /PRNewswire/ -- DataMap, Inc. (OTC: DTMP) announced today it has raised $1.4 million in equity financing through a private placement of its common stock with three institutional investors. No further terms of the private placement were disclosed.
 Gary Mertz, president and chief executive officer of DataMap, said, "We have also received a signed letter of intent from another institutional investor regarding a proposed private placement of $3 million of preferred stock. We are now discussing the structure and terms of this second stage of the private placement. We expect this second stage could be completed next month, subject to reaching a definitive agreement on the terms and conditions."
 The private placements were arranged by William Blair & Company, the Chicago-based investment banking firm, acting as financial adviser and agent for DataMap in the placement of securities.
 "Upon completion, these two transactions will more than double the company's equity base," Mertz continued, "permitting us to proceed with our aggressive marketing plan that will enable the company to substantially increase its revenue growth and improve operating performance."
 DataMap, based in Eden Prairie, Minn., provides computerized geographic solutions for the insurance, banking and retail industries, utilizing a proprietary software and national road and street database, coupled to census demographics and customer data.
 -0- 8/11/93
 /CONTACT: Gary Mertz, DataMap president, 612-934-0900, or James Hovis, DataMap chairman, 815-758-5983; or Alex Tassos of Alex Tassos & Associates, 619-748-0787, for DataMap/
 (DTMP)


CO: DataMap, Inc. ST: Minnesota IN: CPR SU: FNC

DD -- DE006 -- 1558 08/11/93 09:56 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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