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PARALLEL TECHNOLOGIES, INC. ANNOUNCES INVESTMENT BY THIEME & ASSOCIATES

 YONKERS, N.Y., Feb. 26 /PRNewswire/ -- Parallel Technologies, Inc., (National Quotation Bureau and Electronic Bulletin Board Symbol: "PLLK") announced today that it had received an equity investment from Thieme & Associates on behalf of two it its managed accounts. Thieme & Associates is a money management firm located in New York. Its chairman, Heiko H. Thieme, is also chairman of American Heritage Management Corp., the management company for American Heritage Fund, and was formerly associated with Deutsche Bank Capital Corp.
 Martin W. Enright, senior vice president and chief financial officer of Parallel, said, "We are very pleased to have attracted an investor of the caliber of Thieme & Associates. Heiko Thieme brings a wealth of experience and a proven track record of success to Parallel. We look forward to working with him to expand our base of successful institutional investors."
 Parallel also announced that it is continuing to pursue a listing on the NASDAQ Stock Market and expects a favorable determination on its application in the near future.
 -0- 2/26/93
 /CONTACT: Martin W. Enright, senior vice president of Parallel Technologies, Inc., 914-965-7600/
 (PLLK)


CO: Parallel Technologies, Inc. ST: New York IN: CPR SU: FNC

DA -- CL003 -- 0729 02/26/93 09:00 EST
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Publication:PR Newswire
Date:Feb 26, 1993
Words:202
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