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PHARMACONTROL STOCKHOLDER EXERCISES OPTIONS FOR STOCK

 ENGLEWOOD CLIFFS, N.J., May 11 /PRNewswire/ -- PharmaControl Corp. (OTC: Pink Sheets) announced today that ICC Industries Inc., the company's largest stockholder, exercised options for 4,000,000 shares of common stock under the terms of its option agreement. Payment for the 4,000,000 shares was made by crediting indebtedness by the company to ICC under the ICC credit agreement. Following the exercise, ICC owns 14,954,193 shares of the company's common stock which represents 63 percent of the total shares outstanding with an option to acquire 2,954,193 additional shares pursuant to the option agreement it has with the company.
 PharmaControl and PFI are primarily engaged in the manufacture and distribution of more than 80 different types of generic over-the-counter solid dosage pharmaceutical products in tablet, caplet and capsule form (including analgesics, antacids, cough-cold preparations, antihistamines and laxatives), which are sold under its customers' store-brand labels or in bulk form to repackers and distributors.
 ICC Industries Inc. is a major international manufacturer and marketer of chemical, plastic, and pharmaceutical products with 1992 sales of $600 million.
 -0- 5/11/93
 /CONTACT: Lyne Ricciardelli of shareholder relations of PharmaControl Corp., 201-567-9004/


CO: PharmaControl Corp.; ICC Industries Inc. ST: New Jersey IN: MTC SU:

PS-LR -- NY046 -- 7047 05/11/93 12:09 EDT
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Publication:PR Newswire
Date:May 11, 1993
Words:215
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