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PARTECH HOLDINGS THREATENED WITH CLASS ACTION SUIT; CONTROL OF COMPANY SOUGHT BY DISSIDENT SHAREHOLDER GROUP

 NEW YORK, June 14 /PRNewswire/ -- Partech Holdings, Inc. (Boston Exchange, NASDAQ: APHC) announced today that it has been served with a notice of intent to file a Class Action suit against the company by a dissident group of shareholders led by Edward B. Williamson. Mr. Williamson, owner of Williamson & Associates, a New York City-based financial consulting, and financial public relations firm gave notice to John E. Rayl, chairman of Partech Holdings, Inc. on Saturday, June 12, 1993, that he planned to join with other shareholders to seek to oust Mr. Rayl and Charles Koenig, a Columbus, Ohio attorney.
 According to a statement made by Mr. Williamson, Partech, under the management of Mr. Rayl has caused the company's assets to shrink from more than $400 million to less than $100 million, and that in the same time period, has caused revenues to drastically drop from more than $130 million annually to less than $25 million. In addition, Mr. Williamson alleges that Mr. Rayl and Mr. Koenig have now devised a plan whereby all the remaining assets of Partech have been pledged as security on a bogus loan made to Partech by Mr. Rayl, Mr. Koenig, and their cronies in such a manner as to cause Partech's current and former shareholders to lose control of the company's assets, revenues, and earnings.
 Mr. Williamson also alleges that under Mr. Rayl's management, Partech has gone from a profitable company to one losing millions of dollars, and that in addition, the company's share price has dropped from a high of $4.75 to less than $1.00. Mr. Williamson stated, "I would like to see the shareholders get a fair shake here. Mr. Rayl has systematically destroyed the company, its asset base, its revenue stream, its earnings, and, of course, its share price in the marketplace. As a shareholder, I am outraged that Mr. Rayl and Mr. Koenig have gotten away with robbery. There are more than 2,300 shareholders who have seen 75 percent of their investment disappear before their very eyes and now, due to Rayl's new scheme, they are about to lose everything. I'd like to see a new management team brought in, and here I would suggest Robert Koontz, former president of Partech when it was a good company with lots of potential, and I'd like to see the company concentrate on the management of its leasing business and leasing assets rather than chasing after money-losing radio stations which Rayl and Koenig have been trying to buy from bankruptcy situations. I'm willing to spend my own personal money to take up this cause and I invite any former or present shareholders to contact me directly so that, as a group, we can save Partech from its present management."
 -0- 6/14/93
 /CONTACT: Edward Williamson of Williamson & Associates, 800-992-6616, or John Rayl, chairman of Partech Holdings, 614-777-1157/
 (APHC)


CO: Partech Holdings, Inc. ST: New York IN: SU:

PS -- NY010 -- 1376 06/14/93 07:01 EST
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Publication:PR Newswire
Date:Jun 14, 1993
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