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INDE TO ACQUIRE ICOM SERVICE BUREAU

 INDE TO ACQUIRE ICOM SERVICE BUREAU
 LOS ANGELES, June 5 /PRNewswire/ -- Independent Entertainment Group


Inc. (NASDAQ: INDE) (INDE) has signed a letter of intent to purchase all of the assets of The ICOM Group Inc. (ICOM), a competing pay-per-call service bureau.
 The terms of the letter of intent call for INDE to acquire all of the assets of ICOM in exchange for a combination of cash, note and common stock. The final terms are subject to additional due diligence by the parties, determination of a final purchase price and preparation of a definitive agreement.
 ICOM is a two-year-old service bureau with a $1.0 million investment in state-of-the-art pay-per-call equipment and technology. ICOM will be merged with 800 Unlimited and Calls Unlimited, the Las Vegas 900 facility recently acquired by INDE. The combined operations will be renamed The ICOM Group, and operate as a division of INDE, managed by the highly respected Brad Weber, currently president of ICOM. INDE anticipates a 25 percent increase in revenues resulting from the acquisition.
 Robert Lautz, INDE's chief executive officer, said, "The acquisition of ICOM represents another step in INDE's plan to increase its service bureau market share and to provide existing and new customers with the finest equipment and services available. The consolidation of these three service bureaus will create substantial economies of scale and further our intention to become the pre-eminent 'pay-per-call' service bureau in the country."
 Lew Eisaguirre, INDE's chief financial officer, emphasized that, "The consolidated entity should create considerable savings in redundant overhead while lessening credit verification and long-distance carrier fees, all of which have direct bottom line impact. The note terms provide for repayment out of cash flow and will not be a drain on earnings. The dilution to shareholders from the newly issued stock will be fairly insignificant at less than 4 percent. The bottom line is the acquisition could have a dramatic impact in earnings per share by the third quarter."
 INDE is a leading innovator in the "pay-per-call" business, and is active in other emerging "new media" including "pay-per-view."
 -0- 6/5/92
 /CONTACT: Fran Daniels of Financial Sciences of America, 310-278-4413, for Independent Entertainment Group/
 (INDE) CO: Independent Entertainment Group Inc.; The ICOM Group Inc. ST: California IN: TLS SU: TNM


KJ-EH -- LA005 -- 7341 06/05/92 09:02 EDT
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Publication:PR Newswire
Date:Jun 5, 1992
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