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PRINCETON ELECTRONIC EXCHANGES SHARES WITH SGARLATO LABORATORIES

 PHOENIX, Nov. 11 /PRNewswire/ -- Princeton Electronic Products Inc. (NASDAQ: PELT), a 24-year-old diversified holding company, today announced that it has entered into an agreement with Sgarlato Laboratories Inc., whereby the two companies will exchange 250,000 shares of stock on a tax-free basis. The agreement is valued at approximately $500,000.
 Sgarlato will also provide Princeton with the option and first right of refusal to acquire an additional interest in Sgarlato up to a 21 percent holding. Additionally, Princeton will cooperate with Sgarlato, on a best efforts basis, to achieve a third-party financing of $150,000 for Sgarlato Laboratories.
 Princeton Electronic Products Inc., headquartered in Phoenix, is a highly diversified company that specializes, through its subsidiaries, in innovative products, financial services, and venture capital.
 -0- 11/11/93
 /CONTACT: Dale E. Eyman, CEO of Princeton Electronic Products, 800-966-7865; or Shannon T. Squyres of Corporate Relations Group, 714-955-1860/
 (PELT)


CO: Princeton Electronic Products Inc.; Sgarlato Laboratories Inc. ST: Arizona IN: CPR SU:

NY-JL -- LA010 -- 3113 11/11/93 09:30 EST
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Publication:PR Newswire
Date:Nov 11, 1993
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