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MPSI COMPLETES $4.4 MILLION EQUITY RECAPITALIZATION

 TULSA, Okla., Oct. 4 /PRNewswire/ -- MPSI Systems Inc. (OTC: MPSG) announced that on Sept. 29, 1993, it completed a $4.4 million equity recapitalization. The transaction involved the sale of 5 cents par value common stock and 10 cents par value convertible preferred stock to a group of private investors which included, among others, certain directors and officers of the company. Additionally, the company's chairman and its principal bank converted debt into common or preferred stock. The transaction resulted in the issuance of approximately 10.7-million shares of common stock and 72 shares of preferred stock (convertible into 7.2-million common shares). Proceeds of approximately $4.2 million were utilized to eliminate the company's debt (except for trade payables associated with ongoing business).
 Ron Harper, MPSI chairman, said that this recapitalization has been well received in the investment community and by MPSI clients, who have remained loyal to the company through some difficult economic periods. In the long term, these are two very important groups that will affect the company's financial position and results of operations.
 "In addition to providing those more generalized benefits, the recapitalization represents a significant step in management's program to satisfy the requirements which will enable MPSI stock to be re-listed with NASDAQ," said Harper. "Management is currently reviewing options with respect to increasing the stock price, possibly including a recommendation to the stockholders for a reverse stock split."
 MPSI Systems Inc. is a software and information services company, headquartered in Tulsa, which provides market information and decision support software to multi-outlet retailers in the petroleum, banking, mass merchandising and government services industries worldwide. MPSI was founded in 1970 and became a publicly held company March 2, 1983.
 -0- 10/4/93
 /CONTACT: James C. Auten of MPSI, 918-250-9611/
 (MPSG)


CO: MPSI Systems Inc. ST: Oklahoma IN: CPR SU: RCN

SG -- SF017 -- 8291 10/04/93 10:50 EDT
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Publication:PR Newswire
Date:Oct 4, 1993
Words:313
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