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DURA ANNOUNCES PURCHASE OF PROPERTY FOR NEW CORPORATE HEADQUARTERS

DURA ANNOUNCES PURCHASE OF PROPERTY FOR NEW CORPORATE HEADQUARTERS
 SAN DIEGO, Nov. 10 /PRNewswire/ -- Dura Pharmaceuticals Inc. (NASDAQ: DURA) today announced that it has closed on the purchase of two buildings at 5870 and 5880 Pacific Center Blvd. for its new corporate headquarters.
 The Sorrento Mesa complex comprises more than 50,000 square feet of office and warehouse space. Dura will locate its corporate offices at 5880 Pacific Center Blvd. in approximately 24,000 square feet of existing space and 8,000 square feet to be added at a mezzanine level. Dura will utilize about 8,000 square feet of warehouse space in the second building, located at 5870 Pacific Center Blvd., and lease the remaining 21,000 square feet to existing tenants.
 Dura, which currently leases 17,000 square feet at 11175 Flintkote Ave. in Sorrento Valley for its headquarters, will occupy its new facility in March 1993.
 The company's expansion will accommodate the rapid growth it has experienced since successfully completing its initial public offering in February 1992. For the third quarter, sales increased 83 percent to $2,304,100 from $1,262,000 in the same period of 1991. This marks the fourth consecutive quarterly sales increase exceeding 75 percent on a year-to-year basis. Dura's sales growth is supported by the increase in corporate staff to 50 employees, while the field sales force expanded by 62 to a total of 96 representatives in the nine months ended Sept. 30, 1992. Dura expects to end the year with a field sales force of over 100.
 Dura has developed a strong project team to manage the construction and relocation process. Silicon Valley Bank provided financing on the purchase. Dean Asaro of CB Commercial and Ellen Thomas of Iliff Thorn represented the parties involved in the transaction. Dura has retained Rosemary Palermo of Facilitators as its facilities management coordinator, who will coordinate all aspects of the build-out process and procurement of furnishings and equipment for the new facility. Dura has selected Turpit and Partners, Architects to coordinate design and engineering of the tenant improvements, and has chosen Andrea Costello of The Design Consortium to complete space planning and design the interiors. Dura has retained Koll Construction as general contractor to construct tenant improvements, including the creation of the mezzanine. Dura has also included Roger Howard, pharmaceutical and biotechnology facilities consultant, on the project team. Construction on the facilities is scheduled for completion in February 1993.
 Dura Pharmaceuticals is a San Diego-based developer and marketer of prescription pharmaceutical products, drug delivery systems and medical devices for the diagnosis and treatment of asthma, allergies and related respiratory conditions.
 -0- 11/10/92
 /CONTACT: James W. Newman, VP-finance and administration of Dura Pharmaceuticals, 619-457-2553/
 (DURA) CO: Dura Pharmaceuticals Inc. ST: California IN: MTC SU:


LS-JL -- LA027 -- 9372 11/10/92 14:57 EST
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Publication:PR Newswire
Date:Nov 10, 1992
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