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HARRIER CLOSES AMENDED BIOPTRON SALE AGREEMENT

 HARRIER CLOSES AMENDED BIOPTRON SALE AGREEMENT
 LOS ANGELES, July 31 /PRNewswire/ -- Amending its previously


announced contract to sell its Bioptron AG subsidiary, Harrier, Inc. (NASDAQ: HAREC; Boston) said that the purchaser, Josef Schreyogg of Germany, has bought the Bioptron(R) Lamp patents, trademarks, manufacturing and certain distribution rights for approximately $2.4 million in cash, and has agreed to buy the balance of the subsidiary's assets for approximately $725,000 in 4 percent notes payable in two equal installments over an 18-month period. The earlier preliminary agreement called for the payment of $2 million in cash and the balance to be paid in notes maturing in three equal installments over 18 months.
 Jurg Kehrli, Harrier chairman, said that the company counsel and its directors have determined that shareholder approval was not required to complete the transaction. He also noted that the early payment of the initial note under the revised agreement would enable the company to accelerate its plans to market Bioptron Lamps in the U.S. and other areas of the Western Hemisphere where it has retained exclusive distribution rights. "We have applied to the FDA for 510(k) authorization to market the product as a medical device in the U.S. with limited claims," he said, "and we expect notification shortly."
 The agreement with Schreyogg, who heads the company that had been until now the master European distributor of the Bioptron Lamp, provides for Harrier to receive a 4 percent royalty on invoiced sales of all such products sold over the next 10 years in the contract territories in Europe and Asia; and to receive finished lamps in sufficient quantities and at a mutually agreeable price to meet the company's requirements in North, Central and South America.
 -0- 7/31/92
 /CONTACT: Kevin DeVito, vice president-U.S. operations of Harrier, 310-376-7721/
 (HAREC) CO: Harrier Inc. ST: California IN: SU: TNM


TS-SB -- NY014 -- 5497 07/31/92 10:15 EDT
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Date:Jul 31, 1992
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