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ELECTRO-KINETIC SYSTEMS ANNOUNCES GROUP OF INVESTORS PROVIDES INTERIM FUNDING, IN ORDER TO FINANCE EXPANSION

 ELECTRO-KINETIC SYSTEMS ANNOUNCES GROUP OF INVESTORS PROVIDES
 INTERIM FUNDING, IN ORDER TO FINANCE EXPANSION
 TRAINER, Pa., May 18 /PRNewswire/ -- Electro-Kinetic Systems Inc. (NASDAQ: EKSIA) today announced that a group of investors, including some present principals, has provided $280,000 of interim funding to the company through a combination of additional equity and conversion of existing debt, in order to finance its expansion into environmental health markets, consistent with the new business plans of the company.
 Charles D. Cascio, a new investor, assumes the position of chairman of the board of directors, while John J. Reilly, the previous chairman, will remain as president and chief executive officer. Albert N. Gardner, another of the new investors, will assume the position of vice president.
 As a condition of the investment, all members of the previous board except Reilly, resigned voluntarily. The unexpired terms of two of the previous directors are being filled by Cascio and Gardner.
 In a related development, the company announced the sale of the assets of its EKS-Norland Division to Tecknit, Inc., a privately owned company located in Cranford, N.J. The EKS-Norland Division was involved in the manufacture and sale of electrically conductive composite materials to military and commercial markets for electromagnetic shielding applications. This sale is consistent with management's new business plans, which call for complete dedication of the company's assets to environmental markets, focusing primarily on radon and radionuclide analysis of air and water. While the divestiture represents the bulk of the current operating revenue of EKSIA, the proceeds of the transaction along with current and anticipated funding, are expected to be adequate to enable the company to proceed with its new business plans. Electro-Kinetic Systems Inc. had previously concentrated in the development, production, and sale of composite materials for military and commercial markets. Its new focus is environmental health markets, through its wholly owned subsidiary DMA- RADTECH INC., which performs a wide spectrum of radionuclide analysis, including those specifically covered under the U.S. EPA's Safe Drinking Water Act of 1986 and its amendments. DMA-RADTECH, INC. also performs radon-in-air measurements using proprietary methods protected under various U.S. patents.
 /delval/
 -0- 5/18/92
 /CONTACT: Christopher Emmi of Electro-Kinetic Systems, 215-497-4660/
 (EKSI) CO: Electro-Kinetic Systems, Inc. ST: Pennsylvania IN: SU:


LJ-JS -- PH013 -- 1237 05/18/92 10:41 EDT
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Publication:PR Newswire
Date:May 18, 1992
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