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ESQUIRE COMMUNICATIONS SIGNS LETTER OF INTENT TO ACQUIRE DAVID FELDMAN & ASSOCIATES

 NEW YORK, Aug. 11 /PRNewswire/ -- Esquire Communications Ltd. (NASDAQ: ESQS), a leading provider of court reporting services and speech recognition systems, has signed a letter of intent to acquire David Feldman & Associates (USA) Ltd (DFA), a rapidly growing New York court reporting firm, for stock, cash and notes, Malcolm Elvey, Esquire's chairman and chief executive officer, announced today. Terms were not disclosed. The closing is expected within 45 days.
 Mr. Elvey said, "DFA's revenues of approximately $4.2 million in the year ended June 30, 1993, will virtually double Esquire's run rate. The acquisition is expected to boost profits significantly especially when economies of scale are applied. DFA's headquarters are within walking distance of Esquire's Manhattan base and, consequently, the logistics made this transaction very attractive. In addition to revenues and earnings, DFA will be contributing the valuable services of its founder, David Feldman, who will join Esquire as president and chief operating officer. David Feldman has been an innovative entrepreneur in the reporting field for 34 years.
 "Esquire raised $4.6 million in its initial public offering in May 1993 for the express purpose of seeking acquisition opportunities exactly like DFA, whose refined marketing skills will mesh ideally with Esquire's administrative and operational strengths. During his 34 years of experience, David Feldman has built a substantial customer base comparable to Esquire's among the country's leading law firms. This combination will greatly strengthen Esquire's position and make it the leading court reporting firm on the East Coast."
 -0- 8/11/93
 /CONTACT: Malcolm Elvey, chairman and CEO of Esquire Communications, 212-687-8010/
 (ESQS)


CO: Esquire Communications, Ltd. ST: New York IN: SU: TNM

WB-MP -- NY027 -- 1567 08/11/93 10:10 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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