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DELAWARE CHANCERY COURT RULING PROTECTS PHOENIX

 FREMONT, Calif., June 25 /PRNewswire/ -- Phoenix Laser Systems Inc. (AMEX: PXS) today announced that it had received a decision after trial in the Delaware Court of Chancery concerning Bernard Szeto's request for a stockholder list and related corporate records. The court's decision, although granting a stocklist to Szeto, denies Szeto's request for certain books and records and further concludes that the "use of the list ... must be restricted because of the possibility for an abusive use of it as part of the on-going campaign of plaintiff and those with whom he is acting in concert, in challenging the management of the corporation." In this regard, the court determined that Szeto was "acting in concert with Mr. Sun Sun Chan," and that Szeto and Chan had "caused their counsel to write threatening letters to two potential acquisition candidates" and others. The court also stated that it found "troubling" that Szeto "has not undertaken any of the steps that obviously will be necessary if he is to mount a proxy battle with any hope of success."
 Steven Schiffer, chairman and chief executive officer of Phoenix, said, "We are very pleased with the Court's decision, which we believe recognizes Phoenix's legitimate interests in protecting itself from the harmful activities of Mr. Szeto and Mr. Chan."
 Phoenix had previously announced that its annual meeting would be held on July 30, 1993, with a record date of June 28, 1993.
 Phoenix Laser Systems Inc. is a developer of integrated laser workstations primarily for use by the medical community. The company's initial efforts have been focused on the design, development and testing of its first product, the Phoenix Ophthalmic Laser Workstation. The company's technology permits surgery designed to correct nearsightedness, farsightedness and astigmatism, as well as a large number of eye disorders which are untreatable or only partially treatable with current technology.
 -0- 6/25/93
 /CONTACT: Jon Solow of Phoenix Laser Systems, 510-249-0300/
 (PXS)


CO: Phoenix Laser Systems Inc. ST: California, Delaware IN: MTC SU:

GT-SW -- SF001 -- 5712 06/25/93 12:16 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
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