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LASER-PACIFIC ESTABLISHES NEW $13 MILLION CREDIT AGREEMENT FOR THREE- AND FIVE-YEAR TERMS

 LASER-PACIFIC ESTABLISHES NEW $13 MILLION CREDIT AGREEMENT
 FOR THREE- AND FIVE-YEAR TERMS
 HOLLYWOOD, Calif., Aug. 17 /PRNewswire/ -- Laser-Pacific Media Corp. (NASDAQ: LPAC) today announced a $13 million secured credit agreement with CIT Group/Credit Finance of New York. The effect of this new credit agreement will be a significant shift in debt previously classified in current liabilities to long-term and will therefore improve the company's working capital position.
 Robert E. Seidenglanz, chairman and chief executive officer, stated, "This new arrangement will not only enhance our balance sheet and certain financial ratios, but will provide us with greater financial flexibility in managing Laser-Pacific's future."
 The agreement provides a five-year $8.5 million term loan and a three-year $4.5 million revolver to fund working capital requirements. The new CIT agreement represents a significant increase in the company's borrowing capacity and replaces most of the company's indebtedness from its previous lender.
 Laser-Pacific, which won two Emmy Awards for outstanding achievement in engineering development, provides post-production services for the television and motion picture industries.
 Its customer base of global media companies includes every major Hollywood studio, independent production company, domestic and pay cable companies. Through its $60 million investment in plant and equipment, the firm provides the technical functions of processing, editing and finishing images and sound required for motion pictures and television.
 -0- 8/17/92
 /CONTACT: Robert Seidenglanz, chairman and CEO of Laser-Pacific Media, 213-462-6266; or Craig A. Parsons or Keith Karpe of Pondel Parsons & Wilkinson, 310-207-9300, for Laser-Pacific Media/
 (LPAC) CO: Laser-Pacific Media Corp. ST: California IN: ENT SU:


KJ-LS -- LA010 -- 0362 08/17/92 09:04 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
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