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QUADRAX GETS INITIAL $2 MLN MATERIALS ORDER FROM KUNNAN ENTERPRISE FOR TENNIS RACQUETS; 1994 TOTALS COULD BE SUBSTANTIALLY HIGHER

 PORTSMOUTH, R.I., Nov. 3 /PRNewswire/ -- Quadrax Corporation (NASDAQ: QDRX), a leading supplier of high performance thermoplastic composite materials, announced today that it has received commitments for an initial $2 million materials order from Kunnan Enterprise Ltd. for the manufacture of tennis racquets in 1994. Kunnan, based in Taiwan, is the world's largest manufacturer of tennis and other racquet products.
 Richard A. Fisher, Quadrax's Chairman and Chief Executive Officer, said, "This order represents Kunnan's minimum purchase commitment under the exclusive materials supply agreement signed by Quadrax and Kunnan earlier this year and is for the manufacture by Kunnan of tennis racquets for only its own Pro Kennex and Wimbledon brands. Orders for 1994 substantially in excess of $2 million are likely when, as is expected, Kunnan receives orders for thermoplastic racquets from the industry's other leading brand names, including Prince.
 "We have already begun production on the first 5,000 pounds of material representing 10,000 racquets. This material is scheduled to be shipped between now and the end of 1993," added Mr. Fisher.
 Testing of thermoplastic racquets manufactured from Quadrax materials using proprietary rapid cycle processing equipment designed, manufactured and licensed by Quadrax to Kunnan, have demonstrated performance and playability advantages compared with racquets made from conventional composite materials. In addition, Quadrax's environmentally safe, recyclable advanced materials offer Kunnan manufacturing savings for large volume production.
 Tennis racquets are the second use of Quadrax's performance materials in a high volume consumer product. Quadrax recently announced that it had received an order from Hyde Athletic Industries, Inc. (NASDAQ: HYDEA) for thermoplastic composite support devices for athletic shoes. Deliveries under the Hyde contract begin this month. Quadrax is also a supplier to naval and aircraft defense programs including the F-22 Advanced Tactical Fighter, the United States' leading military aircraft program for the 1990s, in addition to providing a broad range of material systems for commercial and industrial applications.
 -0- 11/3/93 R
 /CONTACT: Richard A. Fisher, chairman and CEO of Quadrax, 401-683-6600/
 (QDRX)


CO: Quadrax Corporation; Kunnan Enterprise Ltd. ST: Rhode Island IN: AIR AUT CHM CPR ARO SU: CON

OP -- NY028R -- 3144 11/03/93 14:51 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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