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ENDOGEN, INC. RAISES $3.075 MILLION

 BOSTON, March 19 /PRNewswire/ -- Endogen, Inc. announced today that it has completed the previously announced acquisition of all the outstanding stock of Diagnostics Holding Corp. in exchange for approximately 1.2 million shares of Endogen common stock. As a result of the transaction, Endogen becomes a publicly traded company and increases its cash reserves by $3.075 million, the amount held by Diagnostics Holding Corp. at the time of the acquisition. Endogen shares will open for NASDAQ trading on Monday, March 22 under the symbol "ENDG".
 "The acquisition of Diagnostics Holding Corp. furnishes us with capital to fuel expansion of Endogen's established research products business," said Owen A. Dempsey, president and CEO of Endogen. "The cash generated through the transaction strengthens Endogen's financial position, allowing us to accelerate Endogen's internal growth and to pursue possible acquisitions of companies or product lines in the research products and niche diagnostics fields."
 Dempsey added that "We are pleased at the overwhelming vote of confidence that the Leeco shareholders have expressed in Endogen. They approved the transaction with over 98 percent of the votes present cast in favor of the merger of Diagnostics Holding Corp. with and into Endogen." As a result of the merger, Leeco shareholders (other than Recordati International SA) will now own approximately 47 percent of the outstanding shares of Endogen common stock and Endogen will now trade as a public company. Consummation of the merger has resulted in a total of 2,560,563 shares of Endogen common stock being issued and outstanding.
 Diagnostics Holding Corp. is a subsidiary of Recordati and was formed in connection with a corporate reorganization involving Recordati and Recordati's majority-owned subsidiary, Leeco Diagnostics, Inc. (NASDAQ: LECO). As a result of the financial restructuring, Recordati paid $3.5 million to Diagnostics Holding Corp. and relinquished its 53 percent ownership in Diagnostics Holding. In addition, Recordati assumed 100 percent ownership of both Leeco, which continues to exist as a separate company, and Technogenetics S.R.L., Leeco's operating business.
 Endogen, Inc. develops, manufactures and supplies specialty research products and immuno-assay test kits to the growing biomedical research market. The company's products have grown in number from just two in 1985 to over 120 research reagents and 12 immuno-assay kits. Products are sold in the United States and in over 40 foreign countries. Endogen's products are used by researchers who are investigating cytokines, adhesion molecules, and other components of the immune system. Cytokines, the topic of intense research in the medical and biotech communities, are found naturally in the human body in minute amounts where they play a key role in the regulation of the immune system.
 -0- 3/19/93
 /CONTACT: Daniel A. Burns, investor relations for Endogen, 617-439-3250/
 (LECO)


CO: Endogen, Inc., Diagnostics Holding Corporation ST: Massachusetts IN: MTC SU: TNM

DD -- NE014 -- 8093 03/19/93 17:56 EST
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Date:Mar 19, 1993
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