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PRIME MEDICAL SERVICES, INC. ANNOUNCES UPDATE ON FINANCING EFFORTS

 AUSTIN, Texas, Oct. 13 /PRNewswire/ -- Prime Medical Services, Inc. ("Prime") (NASDAQ: PMSI) announced today that it has received a response to its previously announced financing proposal for acquiring lithotripter equipment and lithotripter facilities. Prime has been advised that the financing source would be willing to fund the acquisition of new lithotripter equipment but will not provide the line of credit for lithotripter facilities. Prime is continuing its discussions with financing sources to obtain financing to be used for the acquisition of lithotripter facilities.
 As previously announced, a meeting of the shareholders of Prime and the equity owners of the three Tennessee partnerships is scheduled for Oct. 18, 1993 to consider approving the combination of their businesses. Upon consummation of the transaction, which is subject to approval by the shareholders of Prime and the equity owners of the lithotripters, the combined company will manage or own five lithotripters, five imaging centers and 25 cardiac rehabilitation centers.
 Prime Medical Services, Inc. is in the business of owning and providing non-medical management services to lithotripsy, diagnostic imaging and cardiac rehabilitation centers.
 -0- 10/13/93
 /CONTACT: Ken Shifrin, chairman of the board, or Jackie Majors, president, both of Prime Medical Services, Inc., 512-328-2892/
 (PMSI)


CO: Prime Medical Services ST: Texas IN: MTC SU:

TM -- NY117 -- 1945 10/13/93 19:38 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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