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DAVSTAR DENOUNCES BARRON'S ARTICLE AND REAFFIRMS DAVSTAR'S PROSPECTS

 NEWPORT BEACH, Calif., Nov. 16 ~PRNewswire~-- Davstar Industrie s Ltd. (AMEX: DVS) today denounced as inaccurate and misleading the article about it published in this Saturday's Barron's, in spite of Davstar's prior advice to the author that a substantial number of his allegations were groundless. The author refused Davstar's request to permit it to make a presentation of facts that would have resulted in a balanced article. The article questioned certain Davstar press releases, but did not refute the technical accuracy of such releases. Davstar fully stands by the accuracy of its past press releases.
 Davstar specifically reiterated that OSHA has specifically identified blood-borne pathogens in urine as potential carriers of the HIV virus. OSHA has formally ruled that the exposure to infection in handling potentially infectious fluids can be minimized or eliminated by a combination of protective clothing, engineering and equipment (29 USC 655). Davstar contends that its closed-loop Cen-Slide(R) System offers the maximum level of protection to technicians handling urine.
 Davstar last week requested the American Stock Exchange to begin an inquiry into the apparent leak of the Barron's article several days prior to its publication, and the timing of such article in light of short positions totaling approximately 700,000 shares of Davstar's Common Stock.
 In the past eight months, management of Davstar has sold less than 1 percent of their holdings. Both of the Registration Statements referred to in the article were filed to register shares issued in private placements, in mid 1991 and March 1992, respectively, when the market price of Davstar's Common Stock was substantially lower. No shares held by an officer or director of Davstar were included in either Registration Statement. The holders of the shares included in the Registration Statements have no obligation or arrangement to sell such shares.
 Davstar further noted that such article in no way questioned either the effectiveness of or the need for its products. Davstar has received uniformly positive feedback from the users and distributors of its Cen-Slide System, consisting of its proprietary centrifuge and its patented closed-loop one piece combination microscope slide and centrifuge tube for urinalysis. Davstar has in place distribution agreements not only for the Cen-Slide System, but also for its Dri-Star(TM) System, a patented portable urine collection product for urinary incontinent patients, which is pending FDA approval.
 Davstar pointed out that, as Barron's itself acknowledged, Davstar is in a strong financial condition. Davstar remains confident of its future success.
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 CONTACT: Roberta LeGendre, c~o Davstar Industries Ltd., One Newport Place, 1301 Dove St., Suite 360, Newport Beach, CA 92660, or call 714-852-8492
 (DVS) CO: DAVSTAR INDUSTRIES LTD. IN: MTC HEA ST: CA


-- NYON2 -- X084 11~16~92
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Publication:PR Newswire
Date:Nov 16, 1992
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