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MACINTOSH ANNOUNCES NAME CHANGE, REVERSE STOCK SPLIT, PRELIMINARY YEAR-END RESULTS

 MACINTOSH ANNOUNCES NAME CHANGE, REVERSE STOCK SPLIT,
 PRELIMINARY YEAR-END RESULTS
 SCOTTS VALLEY, Calif., Aug. 26 /PRNewswire/ -- Macintosh Corp. announced today that shareholders had approved the reincorporation of Macintosh Corp., a publicly traded (NASDAQ: MCIN) Utah holding company, into a new Nevada corporation under the name Sixty Eight Thousand Inc., the name of its privately held California operating subsidiary. As part of the same transaction, the company will effect a reverse stock split of 1 for 10, where shareholders will receive one Sixty Eight Thousand Inc. common share for each 10 shares of Macintosh Corp. they hold. To allow adequate time to effect the change, the company plans that its shares will trade under the name Sixty Eight Thousand Inc. and reflect the reverse split effective Oct. 1, 1992.
 According to Joseph McDowell, chairman, the company will mail all shareholders of record a form of letter of transmittal to be used for mailing in their pre-split Macintosh stock certificates during the month of September to the transfer agent, Progressive Transfer Company, P.O. Box 17561, Salt Lake City, UT 84101. Certificates representing post- split Sixty Eight Thousand Inc. shares will be issued by the transfer agent, with fractional interests rounded up to the nearest whole share.
 As of July 15, 1992, there were 26,623,547 shares of common stock issued and outstanding. After giving effect to the 1-for-10 reverse stock split, there will be 50,000,000 commons shares authorized and approximately 2,662,354 shares issued and outstanding.
 During his remarks at the Special Shareholders' Meeting, Chairman McDowell announced preliminary results for the company's fiscal year ended June 30, 1992. He said that as a result of the favorable market acceptance of the Sixty Eight Thousand products, revenues in the fiscal year ended June 30, 1990, 1991 and 1992 increased from $378,000 to $4,558,000 to $8,307,000 respectively, while performance improved from a $690,000 loss in 1990 to a $46,000 profit in 1991, and then to a $559,000 net income in 1992.
 McDowell also said that at the board meeting following the shareholders meeting, Andrew Vollero, an independent consultant since 1970, was elected as a fifth member of the board of directors.
 Sixty Eight Thousand Inc. designs, assembles and sells computer workstations which are primarily sold to the publishing industry in the pre-press and color separation portions of the market.
 -0- 8/26/92
 /CONTACT: Joe McDowell or Stanton Creasey of Macintosh Corporation, 408-438-1777/
 (MCIN) CO: Macintosh Corporation; Sixty Eight Thousand Inc. ST: Utah, Nevada IN: CPR SU: ERP


RM -- SJ003 -- 3587 08/26/92 15:53 EDT
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Publication:PR Newswire
Date:Aug 26, 1992
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