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GELMAN SCIENCES EXPECTS NEAR-RECORD FIRST-QUARTER EARNINGS AND OBTAINS NEW, FAVORABLE FINANCING

 ANN ARBOR, Mich., Nov. 4 /PRNewswire/ -- Gelman Sciences Inc. (AMEX: GSC) announced today that when it releases final figures in mid- November, the company expects to report near-record earnings for its first quarter, which ended Oct. 31, 1993. On the heels of this news, the company has obtained a new, unsecured credit agreement for $17.5 million, maturing Dec. 31, 1996. This replaces the previous secured credit agreement for $16 million, scheduled to mature in December of this year. Under the new agreement, the company can borrow at interest rates below, but no more than, the prime interest rate, because the agreement includes a Eurodollar interest rate option, which is generally one-half to three-quarters of a point below prime.
 In making this announcement, Charles Gelman said, "By giving us this agreement, our banks have recognized the company's turnaround and strong growth and are now treating us as a quality credit customer. We are pleased with our sales performance in the first quarter. October was a record month. We foresee sustained strength in our sales and profits."
 Mr. Gelman also said that the higher financing limit in this new agreement gives Gelman Sciences the ability to finance their strong growth and the flexibility to make further investments to expand their business.
 -0- 11/4/93
 /CONTACT: James Fahrner, VP, Finance and CFO, or Robert Buker, VP, Corporate Communications, of Gelman Sciences, 313-665-0651/
 (GSC)


CO: Gelman Sciences Inc. ST: Michigan IN: MTC SU: FNC ERP

ML -- DE011 -- 0624 11/04/93 10:37 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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