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ECS ACQUISITION COMMENCES $18.75 PER SHARE TENDER OFFER FOR DIGITAL COMMUNICATIONS ASSOCIATES

 NEW YORK, Sept. 27 /PRNewswire/ -- DCA Holdings, Inc., a company formed at the direction of Welsh, Carson, Anderson & Stowe, announced today that its wholly owned subsidiary, ECS Acquisition Corp., has commenced its previously announced cash tender offer at $18.75 per share net to seller for all outstanding shares of common stock of Digital Communications Associates, Inc. (NYSE: DCA). The offer is being made by the Offer to Purchase and related Letter of Transmittal which are being mailed to holders of the common stock.
 The offer is subject to, among other conditions, DCA Holdings, Inc. obtaining satisfactory financing and there being validly tendered and not withdrawn at least 55 percent of the fully diluted common stock of Digital Communications Associates pursuant to the offer. DCA Holdings, Inc., has obtained financing commitments aggregating $201 million in connection with the offer and the merger.
 Following a successful consummation of the offer, a subsidiary of DCA Holdings will be merged into Digital Communications Associates and shareholders will receive $18.75 in cash for each share of Digital Communications Associates stock in the merger.
 The offer and withdrawal rights will expire at midnight, New York City time, on Monday, Nov. 8, 1993, subject to extension.
 Smith Barney Shearson Inc. is acting as dealer manager in connection with the offer and MacKenzie Partners, Inc., is acting as information agent.
 -0- 9/27/93
 /CONTACT: Daniel H. Burch of MacKenzie Partners, 212-929-5748/


CO: DCA Holdings, Inc.; ECS Acquisition Corp.;
 Digital Communications Associates, Inc. ST: New York IN: SU: OFR


GK-SH -- NY013 -- 5785 09/27/93 08:38 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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