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PHOENIX LASER SYSTEMS SUES HONG KONG ASSOCIATE

 FREMONT, Calif., April 30 /PRNewswire/ -- Phoenix Laser Systems Inc. (AMEX: PXS) today announced that on Friday, April 23, Phoenix Laser Systems Inc. ("Phoenix") filed suit in the Supreme Court of Hong Kong against Sun Sun Chan, a director of Sun Hung Kai & Co., for conversion of $HK 10.4 million. The writ alleges that, on behalf of Phoenix, Chan raised funds from several investors and then subsequently, and without authorization from Phoenix, withdrew such funds from a Phoenix bank account by signing two checks payable to Sun Hung Kai Forex & Bullion Co. Phoenix seeks restitution of the $HK 10.4 million allegedly converted by Chan, and any "secret profit" thereon reaped by the defendant.
 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- 4/30/93
 /CONTACT: Jon Solow of Phoenix Laser Systems, 510-249-0300/
 (PXS)


CO: Phoenix Laser Systems Inc.; Sun Hung Kai & Co. ST: California IN: MTC SU:

GT-TM -- SF006 -- 3259 04/30/93 13:40 EDT
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Publication:PR Newswire
Date:Apr 30, 1993
Words:221
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