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GO-VIDEO CREDIT LINE INCREASED TO MEET GROWING DEMAND FOR PRODUCTS

 SCOTTSDALE, Ariz., May 19 /PRNewswire/ -- Responding to what company officials term "a rapidly-growing acceptance of its patented Dual-Deck VCR(TM) technology," Go-Video, Inc. (AMEX: VCR) today announced an increase of its credit line from Congress Financial Corporation.
 The new $10 million line of credit -- which was increased from a $6.5 million facility secured last October from Congress Financial -- "will allow Go-Video to move ahead in our rapidly-expanding industry and help develop what many consumer electronics buyers consider an entirely new product category -- the Dual-Deck Video Cassette Recorder," said R. Terren Dunlap, chairman and chief executive officer of Go-Video.
 Congress Financial, an asset-based lender with assets of more than $2 billion, is a subsidiary of CoreStates Financial, a bank holding company with more than $23 billion in assets.
 Dunlap said the new funding will be utilized primarily to buy additional product to meet Go-Video's "accelerating product demand from customers, retailers, catalogers and direct mail companies.
 "The expansion of our credit line will create tremendous opportunities for our company to grow its business, and take advantage of the public's overall acceptance of the Dual-Deck VCR technology," he said.
 In addition to the increased funding that will allow the company to seize growth opportunities, the expanded line of credit demonstrates Congress Financial Corporation's high level of confidence in Go-Video's financial condition and credit worthiness.
 Go-Video is in the midst of rolling out an entirely new line of eight state-of-the-art, fully-featured Dual-Deck VCRs -- with anticipated market prices ranging from $599 to $899 -- which have received "a tremendous response from the buying public and the electronics industry," said Dunlap. In addition, the company recently introduced its new Palm-Mate(TM) universal remote control product that fits in the palm of the hand and controls TV, VCR, and cable box functions with only five buttons. Palm-Mate currently is being featured in the May-June issue of Video Review Magazine and the June issue of Playboy.
 Another new Go-Video product -- Cable Ready Plus(TM) -- permits cable box users to record one program while watching another, and when connected to a Dual-Deck VCR, permits recording of two programs while watching a third.
 Go-Video has experienced a high level of success this fiscal year, reporting a 121 percent sales increase in the first half of 1993 over the comparable period a year ago.
 Third-quarter and nine-month financial results are expected to be released by the company within the next few weeks.
 Go-Video, Inc., is the designer, patent-holder and marketer of the only Dual-Deck VCR sold in the United States and the only videocassette recorder that easily can copy any VHS video tape. The Go-Video Dual- Deck VCR is sold through prominent retail outlets nationwide and is featured in numerous popular catalogs. A leader in VCR technology, Go-Video, through continuous research, is adding innovative features, developing creative companion products and expanding its product line to serve the needs of a broader range of retail consumers.
 -0- 5/19/93
 /CONTACT: Edward J. Brachocki, vice president-marketing of Go-Video, 602-998-3400/
 (VCR)


CO: Go-Video, Inc. ST: Arizona IN: CPR SU:

GK-KW -- NY070 -- 0358 05/19/93 14:17 EDT
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Publication:PR Newswire
Date:May 19, 1993
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