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OPTO MECHANIK ANNOUNCES ACQUISITION OF TECHNICAL SYSTEMS, INC. AND ELECTRO DESIGN MANUFACTURING IN EXCHANGE FOR SHARES OF COMMON STOCK

 MELBOURNE, Fla., June 17 /PRNewswire/ -- Opto Mechanik, Inc. (NASDAQ: OPTO), a Delaware corporation of Melbourne, Fla., Electro Design Manufacturing, Inc., a Delaware corporation ("EDM"), ,and Technical Systems, Inc., a Michigan corporation ("TSI"), announced today the execution of a letter of intent which sets forth the terms of a series of transactions which will permit Opto Mechanik, Inc. to acquire 100 percent of the stock of TSI and EDM in exchange for the issuance of approximately 2,076,923 shares of common stock of Opto Mechanik, Inc. to the stockholders of TSI and EDM. The principle executive offices of EDM are located in Decatur, Ala., and those of TSI are located in Grand Rapids, Mich.
 The closing of the transactions contemplated by the Letter of Intent is to occur before Dec. 31, 1993. The closing of the transactions is specifically contingent upon the approval of the board of directors of Opto Mechanik, Inc. and its shareholders, specifically including Duane Ottenstroer and Ottmar Dippold.
 The number of shares of Opto Mechanik, Inc. to be exchanged in this transaction was based upon the net book value of the Opto Mechanik, Inc. common stock at March 31, 1993 ($5.20 a share) and the combined net book value of the two acquired companies at Dec. 31, 1992, which was $10,800,000.
 Opto Mechanik, Inc. engages in the design and manufacture of optical, electro optical and laser systems for military application.
 Electro Design Manufacturing, Inc. is the only approved manufacturer of the TOW 2 missile ground launch system worldwide.
 Technical Systems, Inc. is currently engaged in the business of manufacturing electronic assemblies for the M1A2 tank, the M60A3 tank and numerous other weapons systems.
 -0- 6/17/93
 /CONTACT: Ottmar Dippold of Opto Mechanik, Inc., 407-254-1212/
 (OPTO)


CO: Opto Mechanik, Inc.; Electro Design Manufacturing, Inc.; Technical
 Systems, Inc. ST: Florida, Delaware, Michigan IN: ARO SU: TNM


AW-SS -- FL005 -- 3025 06/17/93 11:12 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
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