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FONIC REPORTS TWO PRIVATE PLACEMENTS OF STOCK

 NEW YORK, Feb. 18 /PRNewswire/ -- Fonic, Inc. (NASDAQ: FONCF), today announced two private placements of stock. The first placement was to La Ronda, Limited, of Hong Kong for 320,000 shares at $6.25 or $2 million of net proceeds to the company.
 The second placement was to Saleswin Enterprises, Limited, of Hong Kong for 80,000 shares at $8.25 less a 10 percent commission of $593,600 of net proceeds to the company. Both sales were transacted under Regulation S.
 Fonic, Inc., through its subsidiaries, is engaged in the design, development, manufacture, assembly and marketing of consumer audio and video products, including stereo radio double cassette recorders, citizen band and multiband radios, mini music systems, Hi-Fi systems, amplifiers, video cassette players and recorders, and television sets. Telecommunications products sold, engineered or manufactured by the company includes "TACS" system cellular phone exchange switches, portable telephone sets and paging receivers.
 -0- 2/18/93
 /CONTACT: Sam Witchel of Scharff, Witchel & Co., 212-983-1060, for Fonic/
 (FONCF)


CO: Fonic, Inc. ST: New York IN: CPR SU:

GK-WB -- NY083 -- 8087 02/18/93 16:31 EST
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Publication:PR Newswire
Date:Feb 18, 1993
Words:183
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