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PHOENIX LASER SYSTEMS ANNOUNCES PRELIMINARY ELECTION RESULTS

 FREMONT, Calif., Oct. 18 /PRNewswire/ -- Phoenix Laser Systems Inc. (AMEX: PXS) today announced that it intends to review and, if appropriate, to challenge the Inspector of Election's preliminary tally of the results of the balloting for the election of directors at the 1993 Annual Meeting of Phoenix Laser Systems held last Friday.
 The Annual Meeting had been adjourned until today to announce the results of the balloting. Because the results have not yet been certified, the Annual Meeting was further adjourned until Friday, Oct. 22, 1993, at 10 a.m. at the offices of the company, 48041 Fremont Blvd., Fremont, Calif. 94538.
 "The Inspector of Election's preliminary tally indicates that the committee's candidates have received more votes than the management slate," said Par Chadha, chairman of the board of Phoenix. "We plan to meet with the Inspector of Election and representatives of the Committee for New Management of Phoenix Laser Systems early next week to learn the basis for the Inspector's actions and contest the preliminary tally, if appropriate."
 On Oct. 8, 1993, Phoenix stockholders voted to elect six members of the board of directors. The preliminary tally of Corporation Trust Company, the Inspector of Election, shows management's nominees each receiving at least 3,475,000 votes, with the committee's nominees each receiving at least 4,297,000 votes. The company believes that the preliminary tally does not fully reflect the company's reverse stock split in January 1992, and that, on a fully converted basis, the difference between the number of votes received by each side is approximately 660,000 shares. In addition, some 2,279,000 votes were not counted by the Inspector, even though proxies representing those shares had been tendered by both sides.
 "If the preliminary election results ultimately are certified by the Inspector, management may take necessary steps, if appropriate, to protect our stockholders' right to a fair election," Chadha said.
 Chadha also announced that the company's ability to continue as a going concern is dependent upon immediate resolution of litigation, streamlining its operations, and completion of previously announced funding.
 Phoenix Laser Systems Inc. is a developer of integrated laser workstations primarily for use by the medical community. The company's initial efforts have been focused on the design, development and testing of its first product, the Phoenix Ophthalmic Laser Workstation. The company's technology permits surgery designed to correct nearsightedness, farsightedness, and astigmatism, as well as a large number of eye disorders which are untreatable or only partially treatable with current technology.
 -0- 10/18/93
 /CONTACT: Jon Solow, vice president and corporate secretary of Phoenix Laser Systems, 510-249-0300/
 (PXS)


CO: Phoenix Laser Systems Inc. ST: California IN: MTC SU:

TB-TM -- SF016 -- 3561 10/18/93 16:22 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
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