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EAI CLOSES SALE OF FIELD SERVICE UNIT

 WEST LONG BRANCH, N.J., July 1 /PRNewswire/ -- Electronic Associates, Inc. (NYSE: EA) today announced that it has completed the sale of its Field Service


Unit to Halifax Corporation on terms and conditions previously disclosed. Halifax is an electronic services and facilities support corporation for government and industry headquartered in Alexandria, Va. Further operations of this unit will be conducted on an interim basis under the name EAI Services, a division of Halifax Corporation.
 Net proceeds from the sale and the collection of retained accounts receivable will be used to reduce EAI's bank debt. The financial covenants contained in the EAI credit agreement have been amended to reflect the company's operations and financial condition after completion of the sale.
 EAI's principal business is contract manufacturing, providing manufacturing services for products designed and marketed by customers. EAI is based in West Long Branch.
 -0- 7/1/93
 /CONTACT: Paul Finkel of Electronic Associates, Inc., 201-740-0090/
 (EA)


CO: Electronic Associates, Inc. ST: New Jersey IN: SU:

SH-TS -- NY068 -- 7780 07/01/93 13:27 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:173
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