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HOME SHOPPING NETWORK COMPLETES PSi SPIN-OFF

 HOME SHOPPING NETWORK COMPLETES PSi SPIN-OFF
 ST. PETERSBURG, Fla., Aug. 3 /PRNewswire/ -- Home Shopping Network,


Inc. (NYSE: HSN) announced today the completion of the spin-off of its wholly owned subsidiary, Precision Systems, Inc. (PSi) to shareholders of HSN in a pro rata stock dividend.
 Each HSN shareholder of record as of July 30 will receive one share of PSi common stock for each 10 shares of HSN common stock held on that date. PSi stock will trade under the symbol PSYS on NASDAQ. It is anticipated that PSi stock certificates will be mailed on Aug. 14, 1992.
 PSi develops, produces, markets and sells a fully integrated voice and call-processing platform and its component systems. PSi's voice- processing platform provides the means to manage telephone calls and collect, organize and distribute digitized speech and other data electronically.
 The platform integrates into a telephone network to provide support for traditional voice-processing services, such as audiotex, interactive voice response routing and call re-origination. This platform is the foundation of a high-volume, high-capacity system which permits callers to access and interact with computers through a broad range of services. PSi's platform is designed for use by long distance carriers, the regional Bell operating companies and other companies with large call- processing and telecommunications requirements.
 Roy M. Speer, chairman and chief executive officer of HSN, stated, "I am extremely pleased to announce the completion of our spin-off of PSi. We believe this distribution will allow PSi to better realize business opportunities available to it in the voice-processing industry. In addition, we believe the spin-off will facilitate investor understanding of the businesses of PSi and HSN, which we hope will result in greater value in the long term for HSN's shareholders."
 Jerry Troupe, chairman of PSi, said, "While we have been very fortunate to operate under the auspices of HSN during the development of our new voice-processing platform, we at PSi are excited about becoming a separate public company. We look forward to the challenges and opportunities that we will meet in the coming years."
 -0- 8/3/92 R
 /CONTACT: Home Shopping Network corporate communications, 813-572-8585, ext. 7420/
 (HSN) CO: Home Shopping Network, Inc.; Precision Systems, Inc. ST: Florida IN: REA TLS SU:


AW-JB -- FL005 -- 6412 08/03/92 19:15 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
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