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PDG ENVIRONMENTAL INC. SECURES NEW EQUITY AND DEBT FINANCING

 MONROEVILLE, Pa., Jan. 6 /PRNewswire/ -- The management of PDG Environmental, Inc. (NASDAQ: PDGE) today announced that they recently secured new financing which will enable them to continue their strategic growth and acquisition plans. Effective Dec. 18, 1992, Barnett Bank of Jacksonville, Fla. established a $2.0 million working capital line of credit for PDGE. Concurrent with the financing, an existing $3.75 million line of credit from Pittsburgh-based Equibank will be reduced to $3.0 million, providing a total of $5.0 million in working capital lines of credit.
 In addition, Vantana Leasing Inc. of San Diego recently provided $2.5 million in term debt for PDGE's previously announced purchase of a petroleum contaminated recycling facility from International Recovery Inc. (NYSE: INT).
 Also, Conversion Industries Inc. (AMEX: CVD) recently announced its agreement to acquire $1.1 million of newly issued Class B convertible preferred stock in PDGE. This is convertible into 11.7 percent of the fully diluted ownership of PDGE. In addition to this equity investment, Conversion will provide PDGE with investment banking services and will assist PDGE in arranging a secondary offering of PDGE stock later in 1993.
 Commenting on the new financing, John Regan, chairman and CEO of PDG Environmental, said, "We continue to see excellent business opportunities in 1993 and anticipate enhancing our presence in our industry sectors. These financings will help us achieve our strategic goals."
 PDGE reported revenues of $20.4 million for the fiscal year ended Jan. 31, 1992, and nine-month revenues of $28 million for the period ended Oct. 31, 1992. PDGE's net income for the nine months was $635,525, up from net income of $19,307 on revenues of $16 million for the same period in the previous year.
 PDG Environmental, Inc., is a full service environmental remediation contractor headquartered in Pittsburgh with primary operations in the Eastern U.S. and Texas. PDGE's principal areas of business include asbestos abatement, underground storage tank remediation, hazardous waste remediation and management and disposal of regulated chemicals and materials (Lab Packs).
 -0- 1/6/93
 /CONTACT: Dulcia Maire, corporate secretary of PDG Environmental, 412-856-2200; or Cynthia A. Bond or Edward Silverman of Silverman, Heller & Bond, 212-682-9222, for PDG Environmental/
 (PDGE)


CO: PDG Environmental Inc. ST: Pennsylvania IN: SU: FNC

AH-GK -- NY009 -- 2113 01/06/93 10:10 EST
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Date:Jan 6, 1993
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