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ENDOTRONICS, INC. ANNOUNCES PROPOSED PUBLIC OFFERING AND ENGAGES BDO SEIDMAN AS AUDITORS

 ENDOTRONICS, INC. ANNOUNCES PROPOSED PUBLIC OFFERING
 AND ENGAGES BDO SEIDMAN AS AUDITORS
 MINNEAPOLIS, Sept. 15 /PRNewswire/ -- Endotronics, Inc. (NASDAQ: ENDO) today announced it has entered into a letter of intent with an underwriter with respect to a proposed public offering of securities to be registered under the Securities Act of 1933, as amended.
 The company is in the process of preparing a Registration Statement with respect to the proposed offering and expects to file such Registration Statement with the Securities and Exchange Commission by the end of November. The offering will be made only by means of a prospectus which will be included in the Registration Statement.
 "The company intends to use the proceeds of the offering for continued research and development on the OXYCELL(TM) advanced bioreactor, for repayment of certain indebtedness and for working capital and general corporate purposes," said Richard E. Sakowicz, president of Endotronics, Inc.
 In addition, the company announced that it has engaged BDO Seidman to act as the company's auditors. Effective today, Arthur Andersen & Co. will no longer be serving as the company's auditors.
 "This engagement is advantageous to Endotronics as the expertise of BDO Seidman lies in meeting the needs of small emerging growth companies. BDO Seidman's pre-eminence in serving small and mid-sized companies is derived from their hands-on, service-oriented business philosophy. In addition, their extensive international network provides outstanding support for U.S. companies with global business interests," said Mary J. Lore, chief financial officer of Endotronics, Inc.
 Endotronics, Inc., headquartered in Minneapolis, is dedicated to providing cell processing products and services to meet the emerging needs of human health care and biotechnology markets worldwide.
 -0- 9/15/92
 /CONTACT: Yvonne L. Marschner-Bova, director, Investor Relations, Endotronics, 313-871-7350 or 313-873-4935 (fax)/
 (ENDO) CO: Endotronics, Inc.; BDO Seidman ST: Minnesota IN: MTC SU: OFR


SB -- DE010 -- 9555 09/15/92 10:54 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
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