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ELECTRONIC ASSOCIATES SATISFIES SALE CONDITION

 WEST LONG BRANCH, N.J., Jan. 8 /PRNewswire/ -- Electronic Associates, Inc. (NYSE: EA) today reported it has satisfied the condition to be performed by Jan. 7, 1993 regarding the sale of its third party electronics maintenance business. The condition was contained in a recent modification of EAI's loan agreement announced on Jan. 5, 1993. EAI has not reached agreement with respect to the sale. However, it has agreed to restrict its negotiations to one prospective buyer for a specified period and discussions regarding the principal terms of the proposed transaction are ongoing.
 EAI is engaged in three related business lines, serving users and producers of electronic products and systems. In Contract Manufacturing, EAI provides manufacturing services for products designed and marketed by customers. In Field Service, the company offers independent maintenance of electronic equipment, with technicians across the United States and in Japan. In Product Engineering, EAI provides simulation computer products plus design and engineering services to private industry and government agencies. The company's common stock has traded on the New York Stock Exchange since 1962.
 -0- 1/8/93
 /CONTACT: Louis J. Tedeschi, 908-229-1100, ext. 655, or Paul Finkel, 201-740-0090, both for Electronic Associates/
 (EA)


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

AH-TM -- NY060 -- 3169 01/08/93 16:36 EST
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Publication:PR Newswire
Date:Jan 8, 1993
Words:215
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