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OMNI FILMS INTERNATIONAL, INC. TERMINATES LETTER OF INTENT

 SARASOTA, Fla., July 1 /PRNewswire/ -- Omni Films International, Inc. (NASDAQ-NMS: OFII) announced today that it has terminated the letter of intent entered into with Showscan Corporation dated May 10, 1993, as recently amended, setting forth the companies' agreement in principle to combine their operations.
 Fred Hollingsworth III, chairman, president and CEO of Omni Films stated that Omni Films remains open to continued discussions with Showscan leading to a possible combination of the two companies provided the terms are acceptable to Omni Films directors and shareholders. Omni Films, as previously agreed, will continue to offer its motion simulation equipment to Showscan on preferred terms and it is anticipated that Omni Films and Showscan will continue to explore cooperative ventures in the simulation marketplace.
 -0- 7/1/93
 /CONTACT: Guy Heyl of Omni Films International, 813-924-4239/


CO: Omni Films International, Inc.; Showscan Corporation ST: Florida IN: SU:

RC-AW -- FL012 -- 7897 07/01/93 16:06 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:154
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