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OCE BUYS MINORITY INTEREST FROM HAGEMEYER IN THE FAR EAST

 CHICAGO AND VENLO~NAARDEN, The Netherlands, Nov. 20 ~PRNewswire~ -- Oce-van der Grinten n.v. (NASDAQ: OCENY) and Hagemeyer n.v. announce their agreement on the transfer of the minority interest held by Hagemeyer in the Oce-Hagemeyer companies in the Far East to Oce-van der Grinten N.N. with effect from Dec. 1, 1992.
 Since the 1970s Oce and Hagemeyer have been cooperating in joint ventures marketing and distributing copiers for the Design Engineering and Office Systems markets. Hagemeyer has a minority interest in these operations which are active in Singapore, Malaysia, Thailand, Hong Kong and Brunei and employ approximately 250 people.
 In recent years these companies have developed into successful Oce companies. Because of the gradual growth of the links between the joint ventures and other activities of the Oce Group, and Hagemeyer's priorities in the field of investments, both partners have agreed, at Hagemeyer's request and following amicable consultation, to transfer full ownership of these companies to Oce-van der Grinten N.V.
 The conclusion of this cooperation will not have any significant influence on the results of both partners for the current financial year.
 Oce-van der Grinten NV is the Dutch parent company of the Oce Group which is active in some 90 countries and has its own operating companies in more than 20 countries. The group has over 12,350 employees and annual revenues of UDLR 1.5 billion.
 Oce is known worldwide for its advanced copying, printing and plotting systems, products and services for the presentation of information on paper. The group serves the office systems and engineering systems markets with an extensive product range comprising:
 -- Copiers and copying supplies for office systems;
 -- Copiers and copying supplies for engineering systems;
 -- Laser printing systems;
 -- Plotter systems and plotter supplies for Computer Aided Design
 -- Photosensitive materials and graphic films.
 Oce is one of three principal suppliers of very high volume office copiers, and in the Design Engineering Systems market it is the only company in the world which develops, produces and markets on a global basis the four basic graphic reproduction systems - diazo, plain paper, plotting and microfilm - for all volume segments of these markets.
 Oce's products are largely marketed, serviced, produced and developed by Oce itself. Apart from sales of equipment and supplies, the group also derives its income from rentals, leasing and service.
 The Oce Group has its headquarters in The Netherlands, where most of its research, production and international marketing activities are also located. In the United States, where Oce has a workforce of some 2,000, the group has offices in Chicago and Itasca, Ill.; Providence, R.I.; and Mountain View, Calif.
 Oce American Depositary Shares (ADS) are traded in the USA on the NASDAQ system (National List) under the symbol "OCE-NY", one ADS representing one ordinary Oce share traded on the Amsterdam Stock Exchange.
 -0- 11~20~92
 ~CONTACT: Mr. E. Theunissen of Oce-van der Grinten N.V., 011-31-77-59-3029; or Mr. H.J.J. Birner of Hagemeyer N.V., 011-31-77-21-595-7676; or Ian Ogilvie of Ogilvie Taylor & Associates, Inc., 212-945-0590, for Oce-van der Grinten N.V.~
 (OCENY)


CO: Oce-van der Grinten n.v.; Hagemeyer n.v. ST: Illinois IN: SU:

AH-OS -- NY021 -- 3322 11~20~92 11:26 EST
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Publication:PR Newswire
Date:Nov 20, 1992
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