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NET/TECH signs option to purchase Stainless Design.

RED BANK, N.J.--(BUSINESS WIRE)--Nov. 26, 1996--Glenn E. Cohen, president and chief operating officer of NET/TECH International Inc. (NTTI) announced today that the company has signed an option to purchase Stainless Design Corp. (SDC) for $10,000,000 (ten million dollars) in cash and stock.

According to Gary Dyal, president of SDC, the company's revenues will exceed $20,000,000 (twenty million dollars) for 1996, with profits approaching $1,000,000 (one million dollars). Kevin Brady, vice president of product development for SDC, which manufactures specialized equipment for the semi-conductor and biomedical industries stated, "The company's customer list includes over 20 (twenty) Fortune 500 companies. Among these are IBM, Intel, Motorola, Lucent Technologies, as well as contracts with the Defense Department."

SDC also manufactures the patented cellular storage units for CRYO-CELL International Inc., which currently owns over 35% (thirty-five percent) of NET/TECH. SDC operates offices in New York, Texas, Massachusetts, and Beijing, China.

Daniel D. Richard founder and director of NET/TECH handled the negotiations for the acquisition option. He stated, "The exercise of the option will be a major step in the expansion of NTTI's innovative network of technology, since SDC has several important patent applications which are pending."

Cohen stated, "The transaction, when completed, can significantly increase SDC's profitability, we intend to have SDC develop and manufacture several of our company's patented products, including the Hygiene Guard Hand Washing Monitoring System. The system will monitor whether employees in the food service and medical industries wash their hands after using the rest room facilities prior to returning to their work place."

NET/TECH International Inc. is a publicly traded company, NASD Bulletin Board Symbol...NTTI.

CONTACT: NET/TECH International Inc.

Corporate Relations:

Ami Doscher, 908/345-1100
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Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 26, 1996
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