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NORTH AMERICAN BIOLOGICALS ARRANGES $19.5 MILLION IN FINANCING FOR ACQUISITION AND STOCK REPURCHASE

 NORTH AMERICAN BIOLOGICALS ARRANGES $19.5 MILLION IN FINANCING
 FOR ACQUISITION AND STOCK REPURCHASE
 MIAMI, Feb. 26 /PRNewswire/ -- North American Biologicals, Inc., (NABI) (NASDAQ: NBIO) announced today that it has successfully arranged financing commitments for its pending acquisition of the international plasma-based biologicals business of Continental Pharma Cryosan Inc. (CPCI) of Montreal. In connection with this acquisition, NABI will also acquire all the NABI common and preferred stock currently owned by CPCI in a transaction valued overall at approximately $27 million.
 NABI's financing arrangements, totalling $19.5 million, consist of three components: $5.5 million in NABI common stock to be placed with institutional investors including Fidelity Management & Research Company, HLM Management Company, and Corning Capital Corporation; $7 million in subordinated debt with warrants attached to purchase NABI common stock through Massachusetts Mutual Life Insurance Company; and $7 million in senior debt through NCNB National Bank. The balance of the consideration for the transaction consists of future payments based on sales.
 "We are extremely pleased at the expression of confidence in NABI and its future growth potential as is exemplified by these commitments," said David J. Gury, NABI's president and chief operating officer. "We remain on schedule for a consummation of this deal at the end of the first quarter 1992 and expect to exceed $100 million in sales in the subsequent 12 months."
 NABI announced the agreement with CPCI in November 1991. The completion of the transaction is subject to a number of conditions including execution of definitive agreements for the financing, and approval by CPCI's shareholders scheduled to take place at a shareholders' meeting on March 30, 1992. Upon consummation of the transaction, NABI will retire the entire series of preferred stock which had previously entitled CPCI to elect a majority of NABI's board of directors.
 Continental Pharma Cryosan Inc., based in Montreal, operates in the home healthcare, biotechnology and biologicals sectors of the healthcare markets. CPCI has held a controlling interest in NABI since 1984.
 North American Biologicals, Inc. is the world's largest independent provider of human blood plasma elements to the healthcare industry, the largest AIDS screening laboratory in the United States, and the leading supplier of control products used to ensure accuracy in blood testing laboratories.
 -0- 2/26/92
 /CONTACT: David J. Gury, president of North American Biologicals, Inc., 305-628-0080; or Marcia A. Kean, executive vice president of Feinstein Partners Inc., 617-577-8110, for North American Biologicals/
 (NBIO) CO: North American Biologicals, Inc. ST: Florida IN: MTC SU:


EG-DD -- NE005 -- 2704 02/26/92 10:09 EST
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Date:Feb 26, 1992
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