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EQUITEX REPORTS 1992 YEAR END FINANCIAL RESULTS; TOTAL ASSETS INCREASE 45 PERCENT AND NET ASSETS INCREASE 46 PERCENT OVER 1991

 ENGLEWOOD, Colo., April 20 /PRNewswire/ -- Equitex Inc. (NASDAQ-NMS: EQTX) announced today its audited financial results for the year ended Dec. 31, 1992.
 The company reported total assets at Dec. 31, 1992 of $15,428,160 as compared to $10,612,006 at Dec. 31, 1991, an increase of 45 percent. Net asset value at Dec. 31, 1992 was $9,637,963 compared to $6,596,135 at Dec. 31, 1991 an increase of 46 percent. Net asset value per share increased to $1.63 from $1.11 on 5,921,168 shares and 5,928,168 shares at Dec. 31, 1992 and 1991, respectively.
 Net increase in net assets resulting from operations increased $3,054,523 for 1992 as compared to an increase of $2,829,272 for 1991.
 "We are very pleased with these results," commented Equitex president, Henry Fong. "With our largest investee Roadmaster Industries expecting another record breaking year along with the addition of significant new investees over the past several years, I am confident we are poised for a successful 1993."
 Equitex's holdings include: approximately 20 percent of the common stock of Roadmaster Industries Inc. (NASDAQ: WHEL) a leading designer and manufacturer of bicycles, fitness equipment and children's wheel goods which posted record sales of $226 million for the year ended Dec. 31, 1992; approximately 28 percent of the common stock of Williams Controls Inc. (NASDAQ: WMCO) a manufacturer of a wide range of electronic controls, pneumatic and hydraulic controls, and exhaust brakes which are used primarily in the heavy vehicle industry; and approximately 22 percent of common stock and warrants in MacGregor Sports and Fitness Inc. (NASDAQ: MACG) which holds a licensing agreement for use of the MacGregor(R) trademark on baseballs, footballs, basketballs and other inflatables as well as team sports and other sporting goods which it markets and distributes in the United States and certain international markets.
 Equitex is a business development company under the Investment Company Act of 1940, as amended.
 -0- 4/20/93
 /CONTACT: Thomas B. Olson of Equitex, 303-796-8940/
 (EQTX WHEL WMCO MACG)


CO: Equitex Inc. ST: Colorado IN: SU: ERN

MC -- DV004 -- 7800 04/20/93 08:45 EDT
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Date:Apr 20, 1993
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