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PACIFIC ANIMATED IMAGING EXTENDS EXPIRATION DATE ON WARRANTS

 ANNAPOLIS, Md., July 15 /PRNewswire/ -- Pacific Animated Imaging Corporation, traded OTC, today announced that it has extended the expiration date of its Class B and Class D Warrants from July 22, 1993 to Dec. 15, 1993. The other terms and conditions of the Class B and Class D Warrants remain unchanged.
 Each Class B Warrant and Class D Warrant entitles the holder to purchase two shares of the company's common stock at a price of $10.00 (i.e. $5.00 per share) during its exercise period which expires on Dec. 15, 1993. The company may redeem the Class B Warrants in whole or in part for $.001 per Warrant at any time upon 30 days prior written notice. The company has the right to redeem the Class D Warrants upon 30 days prior written notice at $.01 per Warrant at any time when, for 20 consecutive trading days prior to the notification date, the closing market price in the over-the-counter market of the underlying shares of the company's common stock is at least $15.00 per share.
 The exercise of the Class B and Class D Warrants may currently be made through July 22, 1993 by residents of the State of New York. During the period July 23, 1993 until the effective date of a post- effective amendment to the company's registration statement with the Securities and Exchange Commission, no Warrants may be exercised by the holders of such Warrants. No assurance can be given as to the amount of time it will take the company to file such registration statement and to have same declared effective by the Securities and Exchange Commission.
 -0- 7/15/93
 /CONTACT: John Cadigan, chief executive officer of Pacific Animated Imaging Corporation, 410-263-7761/


CO: Pacific Animated Imaging Corporation ST: Maryland IN: SU:

WB-LG -- NY024 -- 1859 07/15/93 10:36 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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