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QUADRAX CORPORATION ENTERS INTO AGREEMENT WITH KUNNAN ENTERPRISE

 PORTSMOUTH, R.I., June 15 /PRNewswire/ -- Quadrax Corporation (NASDAQ: QDRX), a leading supplier of high-performance thermoplastic composite materials, announced today that it had entered into an exclusive materials supply agreement with Kunnan Enterprise Ltd., the world's largest manufacturer of tennis and other racquet products.
 Richard A. Fisher, Quadrax's chairman and chief executive officer, said, "Under the agreement, Kunnan will purchase from Quadrax all of its thermoplastic composite materials for the manufacture of tennis, squash, racquetball, badminton and other racquet products." Fisher added that materials shipments are expected to begin in the fourth quarter of 1993 with a value of several million dollars in 1994. "We expect sales to increase significantly after 1994 as Kunnan increases its production capacity for thermoplastic racquets," Fisher said.
 Kunnan manufactures sporting goods racquets under its own Pro Kennex and Wimbledon brands as well as for most of the industry's other leading brands. Kunnan in headquartered in Taiwan and also manufactures in mainland China and Thailand.
 Testing of prototype racquets manufactured from Quadrax materials demonstrated performance and playability advantages compared to racquets made from conventional composite materials, more than 10 million of which were sold in 1992.
 In addition, Quadrax's advanced materials are environmentally safe and recyclable and offer Kunnan manufacturing savings for large volume production.
 According to Fisher, tennis racquets will be the first use of Quadrax's advanced materials in a high volume consumer product. Quadrax is also a supplier to the Seawolf submarine and F-22 Advanced Tactical Fighter programs, two of the United States' leading defense programs for the 1990s, in addition to providing a broad range of structural composite materials for commercial and industrial applications.
 -0- 6/15/93
 /CONTACT: Richard A. Fisher, chairman and CEO of Quadrax Corporation, 401-683-6600/
 (QDRX)


CO: Quadrax Corporation ST: Rhode Island IN: HOU SU:

SM-MP -- NY021 -- 2003 06/15/93 09:59 EDT
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Date:Jun 15, 1993
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