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MOMENTUM DISTRIBUTION SELLS SUBSIDIARY, CHANGES NAME AND ELECTS VICE PRESIDENT

 BELLEVUE, Wash., Sept. 1 /PRNewswire/ -- Momentum Distribution Inc. (NASDAQ: MMDI) announced today that following approval by shareholders this morning at a special meeting, the company has completed the sale of its VWR Textiles & Supplies subsidiary to the Hanes Companies Inc., headquartered in North Carolina. As announced in June, Momentum entered into the sale agreement to generate funds to expand its core business, the marketing and distribution of consumable products and equipment used in printing production and professional imaging. The gain on the sale is presently estimated to approximate $1.60 per share.
 The shareholders of Momentum Distribution also voted to change the name of the corporation, which will be consolidated with its Momentum Graphics subsidiary, to Momentum Corp. "This new name better suits the company's expanding role in providing the products, services and training required to deliver new technologies to the printing and professional imaging markets," said John H. Goddard, president and chief executive officer.
 In other action, Momentum's board of directors elected General Counsel Barry Maulding to the additional office of vice president, administration. Maulding has been with the company for 2 1/2 years. Prior to joining Momentum he had been director of legal services for Univar Corp. and general counsel of Alaska Airlines.
 -0- 9/1/93
 /CONTACT: Patsy R. Turnipseed, chief financial officer, of Momentum Corp., 206-646-6550/
 (MMDI)


CO: Momentum Corp. ST: Washington IN: SU:

JH-RB -- SE013 -- 8054 09/01/93 15:10 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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