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INFORMATION DISPLAY TECHNOLOGY AND ADIENCE EXPLORING MERGER

 PITTSBURGH, Sept. 2 /PRNewswire/ -- The boards of directors of Adience, Inc. ("Adience") and Information Display Technology, Inc. (AMEX: IDT) ("IDT") today announced that they had each agreed to explore a merger transaction by which IDT, currently an 80 percent owned subsidiary of Adience, would become a wholly owned subsidiary of Adience.
 In the merger under consideration, each outstanding share of common stock of IDT would be converted into newly issued shares of Adience common stock. Existing IDT common stock held by Adience would be canceled in the merger. Adience common stock held by existing shareholders would be unchanged in the merger.
 The exact exchange ratio of IDT common stock for Adience common stock has yet to be finalized. IDT and Adience each announced that the fairness of the potential merger, from a financial perspective, would be supported by the opinion of an independent, nationally recognized investment banking firm.
 The merger would require filing registration statements for Adience common stock with the Securities and Exchange Commission.
 In February 1993 Adience filed a prepackaged plan of reorganization under Chapter 11 of the Bankruptcy Code, which was overwhelmingly accepted by creditors and shareholders. The plan was approved by the Bankruptcy Court and became effective on June 30, 1993, when Adience closed a $15 million borrowing facility with its senior lender. IDT was not a party in the Adience reorganization proceeding.
 The merger would also require consents and approvals, including the consent of Adience's senior lender and the approval of IDT shareholders.
 -0- 9/2/93
 /CONTACT: Robert J. O'Gara, 412-561-0462, for IDT/
 (IDT)


CO: Information Display Technology, Inc.; Adience, Inc. ST: Pennsylvania IN: SU: TNM

KC-LJ -- PG007 -- 8502 09/02/93 15:07 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
Words:281
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