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DYANSEN ANNOUNCES PRELIMINARY 1991 RESULTS AND LOAN DEFAULT

 DYANSEN ANNOUNCES PRELIMINARY 1991 RESULTS AND LOAN DEFAULT
 NEW YORK, April 1 /PRNewswire/ -- Dyansen Corporation (NASDAQ: DYAN)


today announced preliminary results for the fourth quarter and year ended Dec. 31, 1991, and has announced that it is in default of loan covenants and interest payments.
 Sales for the fourth quarter and year ended Dec. 31, 1991, were approximately $4.3 million and $24.5 million, respectively. The company expects to report a significant loss for the fourth quarter and year.
 The filing of the company's annual report on Form 10-K has been delayed to a later date. The financial statements at and for the year ended Dec. 31, 1991, have not been completed and audited.
 The company and its secured lender signed a forbearance agreement on March 27, 1992, whereby the lender agreed, subject to certain terms and conditions, to forebear from exercising its remedies under the loan agreement until April 13, 1992. In consideration for the secured lender's forbearance, the company paid the lender $100,000 against the outstanding balance and agreed that during the forbearance period the company shall remit certain cash payments to the lender.
 The company's financial condition has been weakened by the continuation of net losses and negative cash flows from operations. Management is seeking to raise additional capital and is in the process of devising a plan whereby the additional capital will be utilized to revive the company. In the event management cannot raise capital or the company cannot generate sufficient cash flows to sustain operations, the company may be forced to seek protection under the bankruptcy code.
 -0- 4/1/92
 /CONTACT: Harris Shapiro, chairman, or Philip Dondiego Jr., chief financial officer of Dyansen, 212-627-6410/
 (DYAN) CO: Dyansen Corporation ST: New York IN: SU: ERP


GK-SB -- NY066 -- 3953 04/01/92 14:36 EST
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Date:Apr 1, 1992
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