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PERCEPTRONICS RETIRES $1.6 MILLION OF DEBT AND PREFERRED SHARES, AGREES TO RETIRE REMAINING $2.4 MILLION

 WOODLAND HILLS, Calif., Jan. 3 /PRNewswire/ -- Perceptronics Inc. (OTC: PERC) today announced that it had reached agreements with its three debt holders to retire $4.0 million of debt and preferred shares convertible into approximately 2.5 million shares of common stock for a total consideration of approximately $414,000 and 259,000 shares of common stock.
 The company announced further that two of the agreed upon transactions, representing $1.6 million in debt and preferred shares, had been completed prior to Dec. 31, 1993. The remaining transaction, representing retirement of $2.4 million in debt and preferred shares, is planned for completion on or before March 31, 1994.
 "Retirement of the debt as completed and planned is a potentially very favorable development, as it would return the company to a positive net worth, eliminate the requirement for annual principal and interest payments of approximately $1.25 million scheduled to begin in June 1994, and prevent future dilution by up to 2.5 million shares," said Dr. Gershon Weltman, Perceptronics' chief executive officer and chairman. "This can be considered a second step in restructuring our original $8.3 million of convertible debentures, the first step of which occurred in Spring 1993.
 "We are pleased that the needs and desires of our debt holders coincided with those of the company at this time, so the agreements could be reached quickly and efficiently," continued Weltman. "We are particularly proud of the work done by Mr. Bill Neil, vice president and chief financial officer, who coordinated the arrangements."
 Perceptronics is engaged in research and development and in the manufacture and marketing of computer-based simulation and software systems for commercial and military training and decision support.
 -0- 1/3/93
 /CONTACT: Dr. Gershon Weltman, 818-884-7470/
 (PERC)


CO: Perceptronics Inc. ST: California IN: CPR SU:

EH-JB -- LA006 -- 8478 01/03/94 11:27 EST
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Publication:PR Newswire
Date:Jan 3, 1994
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