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EXCEL COMPLETES $7 MILLION OFFERING OF PREFERRED STOCK

 HAUPPAUGE, N.Y., Feb. 18 /PRNewswire/ -- Excel Technology, Inc. (NASDAQ: XLTC) announced that the company has successfully closed a $7-million offering of preferred stock (NASDAQ: XLTCP) in which a total of 1,402,500 shares of preferred stock were issued.
 The announcement was made by Dr. Rama Rao, CEO and chairman of Excel Technology, who noted that "the successful completion of this offering is an important step as we move forward in implementing the company's overall corporate strategy to utilize core solid state laser technology for diverse market needs in science, industry and medicine. Excel intends to combine internal growth with external corporate alliances and/or acquisitions of other companies with complimentary capabilities."
 On Oct. 1, 1992, Excel Technology acquired Quantronix Corporation and its subsidiaries through a swap of stock and warrants valued in excess of $10 million. "This acquisition provided the company with its industrial, semiconductor and scientific laser product lines, which compliment Excel's dental and medical laser products. In addition to a significant revenue base, Quantronix has established manufacturing, engineering, marketing and customer service capabilities as well," Rao added.
 Rao stated that as the first quarter draws to a close, he is optimistic in regard to Excel's performance in 1993 and beyond. Significant improvement in order input combined with restructuring and streamlining that took place in the quarter ending Dec. 31, 1992 are the prime reasons for his optimism. In connection with and subsequent to the acquisition, the company undertook several steps in reducing operating and interest expenses. These efforts have resulted in a greatly reduced break even point for the company. In addition, orders for the company's lasers for the semiconductor industry, laser marking systems, and for scientific research have resulted in a substantial increase in its backlog position going into 1993. In particular, as of Dec. 31, 1992, Excel had a backlog of firm orders of approximately $5,230,000 compared with $2,216,000 as of Dec. 31, 1991, including the pre-acquisition backlog of Quantronix.
 Excel and its wholly-owned subsidiaries develop, manufacture and market laser systems for semiconductor, scientific, industrial, medical and dental applications.
 -0- 2/18/93
 /CONTACT: Beverly Jedynak of Martin E. Janis & Company, Inc. Public Relations, 312-943-1100, for Excel Technology, Inc./
 (XLTC XLTCP)


CO: Excel Technology, Inc. ST: New York IN: MTC SU: OFR

BM -- CL002 -- 7660 02/18/93 08:02 EST
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Date:Feb 18, 1993
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