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FOUNTAIN PHARMACEUTICALS, INC. ANNOUNCES REGISTRATION OF RESTRICTED SECURITIES

 LARGO, Fla., Feb. 25 /PRNewswire/ -- Fountain Pharmaceuticals, Inc. (NASDAQ: FPHI) today announced that the Securities and Exchange Commission (SEC) has declared effective a Registration Statement on Form S-1 relating to 5,589,000 shares of restricted common stock previously issued by the company in private placement transactions, as well as 17,650,412 shares of common stock issuable upon exercise, if at all, of common stock purchase warrants previously issued by the company in private placement transactions.
 The company will receive no proceeds from the sale of stock by its selling security holders; however, it will receive proceeds upon the exercise, if at all, of the warrants. The warrants had been issued by the company since inception at exercise prices ranging from $.75 to $3.00 per share, with the largest block (approximately 5,450,000) at $1.00.
 Holders of the shares and warrants covered by the Registration Statement will be receiving shortly a copy of the company's definitive Prospectus, together with appropriate instructions providing procedures for the sale or exercise of such securities.
 Based in Largo, Fla., Fountain is a publicly traded company that specializes in the application of encapsulated drug delivery systems for the pharmaceutical and cosmetic industries. The company's shares are traded in NASDAQ small caps grouping.
 -0- 2/25/93
 /CONTACT: John C. Walsh, CEO of Fountain Pharmaceuticals, 813-392-5300; or Helen Knight of Marketech, 813-254-4088, for Fountain Pharmaceuticals/
 (FPHI)


CO: Fountain Pharmaceuticals, Inc. ST: Florida IN: MTC HOU SU:

AW-JB -- FL003 -- 0270 02/25/93 09:25 EST
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Publication:PR Newswire
Date:Feb 25, 1993
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