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DATAMARINE REPORTS SALE OF INDUSTRIAL DIVISION

 POCASSET, Mass., Dec. 23 /PRNewswire/ -- Datamarine International, Inc. (NASDAQ-NMS: DMAR), today sold its Data Industrial division to a management-led group headed by James J. Cummins, the division's general manager since 1986. Cummins, 55, is a resident of East Greenwich, R.I. Cummins also resigned his position as Datamarine's senior vice president of Pocasset Operations. The responsibility for the Pocasset manufacturing operations will be assumed by Geoffrey W. Kreiger, 42. president of the Datamarine business unit. The Data Industrial division was formed in the late seventies to market a line of impeller-based fluid flow measurement sensors and related meters. In the latest fiscal year ended Oct. 3, 1992, the Data Industrial division accounted for 29 percent of consolidated sales and was profitable. The sales price was $2.2 million for the assets of the division less certain trade and other liabilities that were assumed. The resulting pre-tax gain is approximately $600,000.
 Datamarine International, Inc. used the all cash proceeds to repay bank debt and for working capital. The company is now debt free, except for real estate mortgages. The company intends to refocus and rebuild its recreational marine unit that remains in Pocasset. Additionally, the company's SEA subsidiary is commencing a new business segment based on its narrowband technology for the land mobile communications market.
 Datamarine International, Inc. is a technology-based, U.S. manufacturer of marine electronics and land mobile radios.
 -0- 12/23/92
 /CONTACT: Geoffrey Kreiger, CFO and treasurer of Datamarine International, Inc., 508-457-0308 (home)/
 (DMAR)


CO: Datamarine International, Inc. ST: Massachusetts IN: SU:

CH -- NE011 -- 9737 12/23/92 17:30 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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