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MODAMI REPORTS YEAR-END RESULTS

 BOCA RATON, Fla., Nov. 30 /PRNewswire/ -- Modami Services, Inc. (NASDAQ: MDMI) headquartered here, said today it lost ($3,986,596), or ($1.30) per share, on sales of $350,710 for the fiscal year ended Aug. 31, 1993. This compares with a loss of ($983,808) or ($0.55) per share, for the same period a year-ago, when the company was still in the development stage and without sales. Weighted shares outstanding increased to 3,087,058 from 1,774,187 over the period.
 Dr. Michael H. Salit, chairman and CEO reported that "the changes recently made in the company's marketing and operations, specifically the focus on grocery, fast food and convenience store chains as target accounts for its yogurt, tomato flakes, and private label products, is beginning to show progress."
 Salit said that over the past 120 days, "Modami has restructured its management team, successfully launched a multi-channel food distribution effort centered in Houston, Texas and introduced a new, cold water soluble and fat free instant yogurt at major hotel locations in Las Vegas."
 He also said the Modami upcharge program, that makes available soft serve machines to operators of fast food and convenience stores when they agree to purchase the company's Fresh 'n Easy(TM) yogurt, "appears to have taken root in Houston," and that "both the number and diversity of participating locations is growing rapidly."
 "Based upon these recent developments," Salit said, "Modami expects to report dramatically improved revenues for the first fiscal quarter of 1994 which ends today, and also expects these results to continue to show very substantial improvement in subsequent quarte.?"
 Modami Services is the developer and marketer of a patented food technology that enables the company to dehydrate and rehydrate any natural food without losing any nutrients, or any fiber. Its current product line consists of Fresh 'n Easy(TM) yogurt, tomato flakes, yogurt candies, shakes, and Italian ices.
 -0- 11/30/93
 /CONTACT: Paul. B. Kravitz, president, COO and CFO of Modami Services, 407-995-0605; or Ira Weingarten of Equity Communications, 805-897-1880, for Modami Services/
 (MDMI)


CO: Modami Services, Inc. ST: Florida IN: FOD SU: ERN

JB-AW -- FL004 -- 8731 11/30/93 12:12 EST
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Publication:PR Newswire
Date:Nov 30, 1993
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