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NEWPORT ANNOUNCES $15 MILLION LINE OF CREDIT

 IRVINE, Calif., June 29 /PRNewswire/ - Newport Corp. (NASDAQ: NEWP) today announced that it has signed an agreement with LaSalle National Bank for a $15 million, three-year line of credit. ABN AMRO Bank N.V. is participating in this arrangement with its wholly owned subsidiary, LaSalle, which is headquartered in Chicago.
 Previously, Newport's short-term credit needs had been met through a one-year, $8.5 million line of credit with First Interstate Bank.
 Robert C. Hewitt, senior vice president - Finance, said: "We are very pleased to announce this substantial increase in our credit facility. The additional resources and longer time frame will assist Newport as it continues to improve its worldwide operations."
 Newport Corp. is a leading worldwide manufacturer and marketer of precision laboratory equipment for scientists and engineers who develop and apply technology involving lasers and optics. The Micro-Controle acquisition further enhances Newport's precision positioning capabilities for high-technology industries including semiconductor manufacturing, telecommunications, and medical and analytical instrumentation. Customers include Fortune 500 corporations, national research laboratories, government and educational institutions.
 -0- 6/29/93
 /CONTACT: Robert C. Hewitt, senior VP - finance of Newport, 714-253-1405/
 (NEWP)


CO: Newport Corp. ST: California IN: MTC SU:

JB-LS -- LA003 -- 6554 06/29/93 08:33 EDT
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Publication:PR Newswire
Date:Jun 29, 1993
Words:201
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