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ON ASSIGNMENT, INC. FILES FOR INITIAL PUBLIC OFFERING OF COMMON STOCK

ON ASSIGNMENT, INC. FILES FOR INITIAL PUBLIC OFFERING OF COMMON STOCK
 CANOGA PARK, Calif., Aug. 12 /PRNewswire/ -- On Assignment, Inc. today announced the filing of a registration statement with the Securities and Exchange Commission regarding the proposed initial public offering of 1,700,000 shares of common stock. The initial public offering price is currently anticipated to be between $6 and $7 per share.
 The company, through its operating division, Lab Support, is a leading provider of temporary scientific professionals to laboratories in the biotechnology, environmental, chemical, pharmaceutical, food and beverage and petrochemical industries.
 Of the 1,700,000 shares offered, 300,000 shares are being sold by the company and 1,400,000 are being sold by a selling stockholder. In addition, the selling stockholder has granted the underwriters an option to purchase up to 255,000 additional shares to cover underwriters' over- allotments. The company will have 4,258,328 shares outstanding after the offering.
 Net proceeds to the company are expected to be added to working capital and to be used for general corporate purposes. Proceeds may be used for acquisitions, although the company is not currently engaged in any active negotiations or discussions.
 Advest, Inc. and Unterberg Harris will manage the offering. A copy of the preliminary prospectus can be obtained from the offices of Unterberg Harris, 65 East 55th Street, 18th Floor, New York, N.Y. 10022 or Advest, Inc., Tower 49, 12 East 49th Street, New York, N.Y. 10017.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 8/12/92
 /CONTACT: Tad Czyzewski, vice president and chief financial officer of On Assignment, Inc., 818-716-8990/ CO: On Assignment, Inc. ST: California IN: MTC SU: OFR


LR -- NY068 -- 6270 08/12/92 14:47 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
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