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LANCER ORTHODONICS COMPLETES LOAN RENEWAL NEGOTITATIONS

 CARLSBAD, Calif., Nov. 8, PRNewswire/ -- Lancer Orthodontics (NASDAQ: LANZ), a Bioamerica subsidiary (NASDAQ: BMRA), announced that it has completed negotiations to renew and extend its loan with First National Bank of San Diego. The loan, which had expired on Oct. 31, 1993, has now been extended to Nov. 1, 1994.
 Now that the loan extension issue has been granted, the explanatory paragraph regarding the company's ability to continue as a going concern included in the opinion of the company's accounting firm of Corbin & Wertz is no longer operative. H. Hertz, a senior partner of Corbin & Wertz, indicated that the uncertainty surrounding the loan discussions prompted his firm to include the explanatory paragraph in its qualified opinion at the time the company's annual audit was completed.
 In the recently completed annual financial statements, Lancer made a profit of $103,000 in its last fiscal year ended May 31, 1993, compared to a loss of $1.1 million in the prior year.
 Company management is confident that the profitable trend will continue this year as the company continues to expand in both domestic and international markets.
 Lancer Orthodontics manufactures orthodontic products such as preformed bands, pads, brackets, buccal tubes, exotic wires and related accessories. The company sells directly to orthodontists utilizing a national sales force as well as an international distribution network.
 Lancer is the only independent, publicly held orthodontics company and is traded on the over-the-counter market. Its symbol on NASDAQ is LANZ.
 -0- 11/8/93
 /CONTACT: Douglas Miller, president of Lancer 619-438-4112/
 (LANZ BMRA)


CO: Lancer Orthodontics ST: California IN: MTC SU: ACC

NY-LM -- LA012 -- 1592 11/08/93 08:47 EST
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Publication:PR Newswire
Date:Nov 8, 1993
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