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MAJOR INSTRON SHAREHOLDER FAULTS BOARD AND MANAGEMENT FOR FAILURE TO ENHANCE SHAREHOLDER VALUE; CENITH PARTNERS TO CONSIDER ACTIONS

 BOSTON, Oct. 6 /PRNewswire/ -- Stephen G. Rabinovitz, general partner of Cenith Partners L.P., today announced that Cenith has filed a Schedule 13D with the Securities and Exchange Commission reporting beneficial ownership of 316,700 common shares, or 5.05 percent, of Instron Corporation (AMEX: ISN).
 Cenith's filing expresses dissatisfaction with the current board's and management's efforts to enhance shareholder values and describes actions which may be considered, including a proxy contest or a tender offer.
 Mr. Rabinovitz said, "I believe that the market price of Instron shares reflects the continuing failure of Instron's board and management to pursue effective strategies to enhance Instron's values for the benefit of all shareholders. Instron's stock price has considerably underperformed the S&P 500 Index for years. The company's 1993 proxy statement even shows Instron lagging the Value Line Precision Instruments Industry Index, a peer group index selected by Instron management for comparative purposes, for a five-year period ending Dec. 31, 1992. It's clearly time to determine how shareholder values might best be increased and the means which might be necessary to achieve this goal."
 In the spring of 1991, Cenith Partners launched a proxy contest for three Instron board seats at the company's May 1991 annual meeting. On April 29, 1991 Cenith and Instron signed a standstill agreement under which Cenith, among other things, agreed to terminate its proxy solicitation and Instron agreed to redeem its poison pill. The standstill agreement expired on June 1, 1993.
 -0- 10/6/93
 /CONTACT: Stanley J. Kay of MacKenzie Partners, Inc. 212-929-5940, or Stephen G. Rabinovitz of Cenith Partners L.P., 617-574-0590/
 (ISN)


CO: Instron Corporation; Cenith Partners L.P. ST: Massachusetts IN: SU: TNM

SH-LG -- NY036 -- 9306 10/06/93 11:34 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
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