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Maxco Increases Equity Investment in Strategic Interactive; Cites High-Tech Company's Success and Prospects in Internet/Intranet Training.

LANSING, Mich.--(BUSINESS WIRE)--Oct. 2, 1997-Maxco Inc. (NASDAQ/NMS:MAXC) announced today it has acquired an additional 30 percent equity stake in technology-based training and education provider Strategic Interactive.

Maxco, a Lansing, Mich.-based holding company, said it paid an undisclosed amount of cash to bring its total equity position to 45 percent ownership of the privately held company. Maxco acquired its initial 15 percent position in Strategic Interactive in January 1997.

"We continue to be pleased with the progress Strategic Interactive is achieving in building awareness and market share in the emerging on-line training market," Maxco Chairman Max A. Coon said. "Our decision to invest further in the company reflects this growth, as well as our confidence that Strategic Interactive will continue to create significant value for Maxco and our shareholders in the future."

Based in East Lansing, Mich., at Michigan State University, Strategic Interactive ( provides internet and intranet-based training and education for companies such as Ford, General Motors and Dow Chemical. Strategic Interactive is also a provider of content for distance learning to the Michigan Virtual Automotive College, a not-for-profit corporation specializing in delivering post-secondary education for auto workers. The company, which employs approximately 40 people and has been profitable since its inception, is currently operating at a $5 million sales rate.

Maxco will continue to report on its stake in the two-year old training company as an equity investment on its balance sheet.

A diversified holding company, Maxco's businesses include Ersco and Wisconsin Wire & Steel, construction supplies distribution units; Pak-Sak Industries Inc., which makes polyethylene packaging; and Atmosphere Annealing Inc., a production metal heat-treating service company. Maxco also holds investments in a real-estate development limited liability company, and in other technology-related businesses: Medar Inc. (NASDAQ/NMS:MDXR) and AXSON, S.A.

CONTACT: Maxco Inc., Lansing

Max A. Coon or Vincent Shunsky, 517/321-3130
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Publication:Business Wire
Date:Oct 2, 1997
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