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INTERMAGNETICS GENERAL DETERMINES NOT TO PURSUE OFFERING

       INTERMAGNETICS GENERAL DETERMINES NOT TO PURSUE OFFERING
    GUILDERLAND, N.Y., Nov. 6 /PRNewswire/ -- Intermagnetics General Corporation (NASDAQ: INMA) announced today that its board of directors has decided not to proceed with the proposed sale of convertible subordinated debentures at this time.
    Commenting on the decision, Carl H. Rosner, president, stated: "While potential investors reacted positively to the proposed offering, current market conditions for the company's common stock suggest to us that the offering should not proceed at this time."  Rosner went on to note that "We remain committed to pursuing additional applications of superconductivity and are confident that the company will be able to raise the necessary funds when they are needed."
    Rosner also announced that the company is in the process of finalizing arrangements for a new $10 million unsecured line-of-credit. This line will replace the current $10 million secured line which is presently not in use.
    Intermagnetics General Corporation, as a leading manufacturer of superconducting magnets and wire, particularly those used in medical diagnostic imaging systems, is dedicated to the development and commercialization of superconducting systems.  The company also produces cryogenic equipment, permanent magnet systems and materials separation devices.
    -0-         11/6/91
    /CONTACT:  Carl H. Rosner, president of Intermagnetics General, 518-456-5456/
    (INMA) CO:  Intermagnetics General Corporation ST:  New York IN: SU:  OFR FC-SM -- NY071 -- 1837 11/06/91 15:28 EST
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Publication:PR Newswire
Date:Nov 6, 1991
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