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ONGARD WITHDRAWS UNITS FROM NASDAQ

 DENVER, Oct. 25 /PRNewswire/ -- ONGARD SYSTEMS Inc. announced today that it has withdrawn its units (OGSIU) from quotation in the NASDAQ SmallCap market. The company's common stock (OGSI) and warrants (OGSIW) will continue to be traded in NASDAQ. The ONGARD units will cease trading in NASDAQ as of the close of business on Monday, Oct. 25. ONGARD sold the units, each consisting of one share of common stock and one warrant, it its initial public offering in August 1992. Mark Weiss, president of ONGARD, explained that the continued listing of the units is not necessary as investors may trade both common stock and warrants in NASDAQ.
 ONGARD also announced that it has filed a post-effective amendment to its registration statement with the Securities and Exchange Commission relating to shares of common stock underlying the company's warrants. Until the SEC declares the amendment effective and other legal requirements have been satisfied, Weiss explained, the warrants may not be exercised.
 ONGARD SYSTEMS is a manufacturer of medical infection control products including a proprietary medical waste mailback system and a custom line of sterilization packaging products. Recently the company announced its intent to merge with Pharmetics Inc., a New York-based manufacturer of sterilization equipment.
 -0- 10/25/93
 /CONTACT: Mark E. Weiss, CEO of ONGARD SYSTEMS, 303-293-2090/
 (OGSI)


CO: ONGARD SYSTEMS Inc. ST: Colorado IN: MTC SU:

JB-LS -- LA043 -- 6571 10/25/93 17:29 EDT
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Publication:PR Newswire
Date:Oct 25, 1993
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