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EQUITEX INVESTEE SPORTS ACQUISITION AND VIDA VENTURES, COMPLETE MERGER COMBINED ENTITY RENAMED MACGREGOR SPORTS AND FITNESS

EQUITEX INVESTEE SPORTS ACQUISITION AND VIDA VENTURES, COMPLETE MERGER
 COMBINED ENTITY RENAMED MACGREGOR SPORTS AND FITNESS
 ENGLEWOOD, Colo., Jan. 7 /PRNewswire/ -- Equitex Inc. (NASDAQ: EQTX) announced that its investee, Sports Acquisition Corp. has completed its merger transaction with Vida Ventures Ltd. which made the following press release on Jan. 6, 1992:
 MINNEAPOLIS.... Vida Ventures Ltd. ("Vida") (OTC) said today that it had completed the acquisition of Sports Acquisition Corp. ("SAC") in a merger transaction completed on Dec. 30, 1991. Both Vida and SAC shareholder approval of the transaction was obtained on Dec. 27, 1991, as well as approval to rename the combined entity MacGregor Sports Fitness Inc., and to reverse split its common shares into a ratio of one share for every two shares. The combined company will be headquartered near Greenville, S.C.
 Michael S. Casazza has been named president of MacGregor Sports and Fitness Inc. Casazza has over 19 years of industry experience in senior executive positions with Wilson Sporting Goods and Dunlop Slazenger Corp. Casazza said, "Among the products in which the new company has the right to use the MacGregor trademark are baseballs and softballs, bats, gloves, protective equipment and various accessories; basketballs; footballs; soccerballs; volleyballs; playground balls; hockey equipment; racquet sports equipment; all forms of fitness equipment; sports trading cards; and all types and designs of bicycles." Casazza further stated, "The company's strategy is to focus its marketing efforts on team sports and fitness and to build on the reputation and strength of the MacGregor trademark on a worldwide basis."
 With the merger complete, the company intends to begin the process for qualifying its common stock, warrants and units for trading on the National Association of Securities Dealers Automated Quotation System (NASDAQ) and regional exchanges.
 Equitex Inc. is a business development company under the Investment Company Act of 1940, as amended. Following the merger Equitex owns 20.4 percent of the outstanding common stock of MacGregor Sports and Fitness Inc.
 -0- 1/7/92
 /CONTACT: Thomas B. Olson of Equitex, 303-796-8940/
 (EQTX) CO: Equitex Inc.; Sports Acquisition Corp.; Vida Ventures Ltd.
 MacGregor Sports and Fitness Inc. ST: Colorado, Minnesota IN: SU: TNM


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Date:Jan 7, 1992
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