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PERCEPTRON HOLDS ANNUAL SHAREHOLDERS MEETING; ELECTS NEW CHAIRMAN OF THE BOARD

 FARMINGTON HILLS, Mich., May 25 /PRNewswire/ -- Perceptron, Inc. (NASDAQ Small-Cap Market: PRCP) held its first annual shareholders meeting since its initial public offering in August 1992. At the meeting held in Farmington Hills on May 21, Perceptron shareholders approved the election of the board of directors proposed in the company's proxy statement, approved certain amendments to the company's 1992 stock option plan and approved the appointment of Coopers & Lybrand to audit the financial records of the company for the fiscal year ending Dec. 31, 1993.
 The shareholders re-elected the company's existing board of directors: Dwight D. Carlson, president and chief executive officer of Perceptron, Inc.; James E. McGrath, chairman and CEO of Fairfax Capital Partners, Inc.; James A. Ratigan, consultant; Harry T. Rein, managing general partner, Canaan Partners; Paul E. Rice, administrator, Alternative Investment Division, Department of Treasury, State of Michigan; Claron W. Swonger, vice president, Environmental Research Institute of Michigan ("ERIM"); and Erwin C. Ziegelman, principal, Berger Ziegelman Associates.
 Following the meeting, the board of directors elected James E. McGrath as chairman of the board and also of its executive committee. McGrath, who is chairman and chief executive officer of Boston-based Fairfax Capital Partners, Inc., has served as a director of Perceptron since 1983. McGrath was formerly managing director of William E. Simon & Sons, Inc., and prior to that, a corporate senior vice president at EF Hutton & Company, where he also served as president of its venture capital division, as well as head of its merchant banking unit. He is currently a director of American Medical Response, Inc. (NYSE: EMT), a company of which he was a co-founder in 1992.
 "Jim's extensive and well-recognized background in building revenue and profit through acquisition and streamlining operations should prove of enormous benefit to us as we seek to grow Perceptron and increase its profitability even further," commented Dwight D. Carlson, president and chief executive officer. "We're delighted to have him take on this important leadership role at Perceptron."
 "Perceptron has an exceptionally strong business foundation, and I look forward to helping the company penetrate new markets by pursuing a combination of acquisitions, joint ventures and internal growth programs," commented McGrath. "We will be working to enhance shareholder value by seeking to develop or otherwise add new and related products, as well as seeking additional channels of distribution and market niches for our existing products. Essentially, we will be looking to expand our current winning business strategy."
 Perceptron is a leading developer and marketer of non contract measurement and guidance solutions comprised of proprietary software, laser-based datacameras and image processing hardware which are used in the production of large formed parts and assemblies such as cars, trucks and appliances. Perceptron products are marketed in North America, Europe and Japan.
 -0- 5/25/93
 /CONTACT: Dwight D. Carlson, president and CEO, or Joseph Ben-Gal, vice president finance and CFO, Perceptron, Inc., 313-478-7710/
 (PRCP)


CO: Perceptron, Inc. ST: Michigan IN: CPR SU: PER

DH -- DE006 -- 2091 05/25/93 10:23 EDT
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Publication:PR Newswire
Date:May 25, 1993
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