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GAMMA BIOLOGICALS' BOARD OF DIRECTORS DECLARES DIVIDEND AND AUTHORIZES SHARE REPURCHASE

 HOUSTON, Dec. 7 /PRNewswire/ -- The Gamma Biologicals, Inc. (AMEX: GBL) board of directors has declared a cash dividend on the company's common stock of 2-1/2 cents per share, payable Jan. 25, 1994, to shareholders of record on Jan. 10, 1994. Gamma last paid a dividend in December 1985.
 The board has also authorized the open-market repurchase, from time to time, of up to 250,000 shares of the company's common stock. No such purchase has been made at this particular time.
 "As previously stated, management believes -- and the board concurs -- that the company's intrinsic value is not currently reflected in the stock price," reported Chairman and CEO David E. Hatcher. "Gamma earned 16 cents per share for the first half of fiscal 1994 and has sufficient current cash flows to support these actions for our shareholders' benefit."
 Gamma Biologicals manufactures and sells a wide variety of highly refined and specialized testing products known as in-vitro diagnostic reagents. The company markets to blood donation centers (commonly called "blood banks"), transfusion departments of hospitals, medical laboratories and research institutions. Gamma's common stock trades on the American Stock Exchange using the symbol GBL.
 -0- 12/7/93
 /CONTACT: David E. Hatcher, chairman & chief executive officer, or John J. Moulds, president and chief operating officer of Gamma Biologicals, 713-681-8481/
 (GBL)


CO: Gamma Biologicals, Inc. ST: Texas IN: MTC SU: DIV

JG -- NY023 -- 1204 12/07/93 10:32 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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