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MICROELECTRONIC PACKAGING, INC. GRANTED WAIVER BY DBS BANK.

SAN DIEGO--(BUSINESS WIRE)--February 10, 1995--Microelectronic Packaging, Inc. ("MPI") (Nasdaq National Market:MPIX) today announced that it has received from DBS Bank of Singapore, its lead bank, a waiver of all covenants under its loan agreement for which the Company was in default. The waiver applies to the year ended December 31, 1994.

In conjunction with its waiver, DBS has imposed less stringent conditions relating to the Company's net worth and liabilities to net worth ratio for the year ending December 31, 1995.

Microelectronic Packaging, Inc. is a leading international semiconductor packaging company with design services, manufacturing and sales capability to support the device packaging and electronic systems interconnection requirements of IC and electronic systems manufacturers. At its San Diego, California headquarters and Singapore manufacturing facility, the Company develops, manufactures, markets and sells pressed ceramic packages, advanced IC packaging products and multichip modules ("MCMs") to customers in the IC, automotive electronics, communications, automatic test equipment and other electronics-related industries.

CONTACTS: Microelectronic Packaging, Inc.

Timothy da Silva, President & CEO

David Hinkle, CFO

(619) 530-1660

-or-

MPIX'S INVESTOR RELATIONS COUNSEL

The Equity Group Inc.

Tamara Ehlin

(212) 836-9607
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
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Publication:Business Wire
Date:Feb 10, 1995
Words:187
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