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FONIC SIGNS JOINT VENTURE TO MARKET PAGING RECEIVERS IN THE PEOPLES REPUBLIC OF CHINA

 FONIC SIGNS JOINT VENTURE TO MARKET PAGING
 RECEIVERS IN THE PEOPLES REPUBLIC OF CHINA
 NEW YORK, Nov. 12 /PRNewswire/ -- Fonic Inc. (NASDAQ: FONCF) today announced that it had signed a joint venture agreement to market paging receivers in the Peoples Republic of China. Fonic's affiliated joint venture with Novatel, Sunluck Communications Co., Ltd., has set up another joint venture company with China Everbright Computer Development, Inc., on a 50/50 basis, named Everbright & Sunluck (Beijing) Communications co., Ltd. Fonic will have a 13 percent net interest in Everbright and Sunluck.
 The new company will market the paging receivers in the PRC through its own network. They will be manufactured in the PRC by Sunluck. Fonic expects to sign a substantial contract for the pagers in the near future.
 China Everbright Computer Development, Inc. is a wholly-owned subsidiary of China Everbright Group, Ltd., which is a PRC government- owned company. It is registered with the State Administration for Industry and Commerce.
 Fonic expects this joint venture to help it expand its telecommunication business in the PRC.
 Fonic Inc., through its subsidiaries, is engaged in the design, development, manufacture, assembly and marketing of audio products including digital receivers, stereo radio, double cassette records, video cassette players, record players, hi-fi component systems, video (TV) sets, video cassette records (VCRs), professional hi-fi amplifiers, clock radios, one piece telephones, and promotional items. Telecommunications products sold, engineered or manufactured by the company include "TACB" system cellular phone exchange switches, portable telephone sets and paging receivers.
 -0- 11/12/92
 /CONTACT: Sam Witchel of Scharff, Witchel & Co., Inc., 212-983-1060, for Fonic Inc./
 (FONCF) CO: Fonic Inc. ST: New York IN: SU: JVN


WB-LR -- NY046 -- 0195 11/12/92 12:48 EST
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Publication:PR Newswire
Date:Nov 12, 1992
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