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PRISM GROUP ACQUIRES SOFTWARE PRODUCTION INC.; ANNOUNCES RENAISSANCE INVESTMENT, ALY ELECTED CHIEF EXECUTIVE OFFICER

 SARASOTA, Fla., Nov. 30 ~PRNewswire~ -- Prism Group Inc. (NASDAQ: PRSM) has completed its acquisition of Software Production Inc. (SPI), a software manufacturing services firm based in Bellevue, Wash., for more than $3.0 million in cash and stock, said K.C. Aly, Prism's President.
 Financing for the acquisition will be provided by Renaissance Capital of Dallas, which has committed to a $3.0-million investment in convertible debentures of Prism Group and by approximately $1.0 million in long-term debt from U.S. Bank of Washington. Aly said the excess funds would be used for general working capital.
 Renaissance Capital specializes in assisting emerging, growing, publicly owned companies by providing long-term capital financing.
 "This transaction continues our strategy of acquiring software manufacturing firms," said Aly. "It expands the company's software manufacturing business with an organization and customer base that are complimentary to the business of our other subsidiary, MicroDisk Services."
 SPI's audited revenues for the nine months ended Sept. 30, 1992, were $4.4 million. MicroDisk Services' revenues were $9.7 million for the same period. SPI's management team will remain in place: Richard McNeill, president; Mike Poste, vice president of Sales and Marketing; and Scott Emmons, vice president of Operations.
 W. Lee Pryor, Prism's Chairman, also stated that the Board was pleased to announce that K.C. Aly, founder of MicroDisk Services, has been named chief executive officer of Prism.
 Prism Group is based in Sarasota. MicroDisk Services, another Prism operating subsidiary, is based in Woodinville, Wash., and also provides manufacturing services to software publishers. Prism is listed on the NASDAQ Exchange under the symbol PRSM.
 -0- 11~30~92
 ~CONTACT: K.C. Aly, 206-881-1609; Jim McDonough, 813-955-8001; or Brad Tedeschi, 206-889-4457, all of Prism Group~
 (PRSM)


CO: Prism Group Inc.; MicroDisk; Software Production Inc.;
 Renaissance Capital ST: Washington, Florida IN: CPR SU: PER TNM


JH-LM -- SE017 -- 2157 11~30~92 19:52 EST
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Publication:PR Newswire
Date:Nov 30, 1992
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