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FONIC ISSUES STATEMENT ON STOCK ACTIVITY

 FONIC ISSUES STATEMENT ON STOCK ACTIVITY
 NEW YORK, June 18 /PRNewswire/ -- Fonic, Inc. (NASDAQ: FONCF)


announced today that it is unaware of any reason for the recent rise in its common stock and warrants to purchase common stock. Chou Sui Sheung, Fonic's president and chairman of the board, stated, "Fonic has previously announced orders for $40 million of 'TACS' systems cellular phone exchange switches, portable phone sets, paging receivers and a $10 million development project for a flat, square tube, color television with Daewoo. The company also paid a 100 percent stock dividend on June 10, 1992, to stockholders of record on May 26, 1992."
 Fonic, Inc., through its subsidiaries, is engaged in the design, development, manufacture, assembly and marketing of consumer audio and video products including digital receivers, stereo radio double cassette recorders, video cassette players, record players, Hi-Fi component systems, video (TV) sets, video cassette recorders (VCRs), professional hi-fi amplifiers, clock radios, one piece telephones, and promotional items. The company also plans to sell telecommunications products, including the "TACS" system cellular phone exchange switches, portable telephone sets and paging receivers.
 -0- 6/18/92
 /CONTACT: Sam Witchel of Scharff, Witchel & Co., 212-983-1060, for Fonic/
 (FONCF) CO: Fonic Inc. ST: New York IN: SU:


PS-TS -- NY033 -- 1469 06/18/92 11:32 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 18, 1992
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