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ROYCE LABORATORIES, INC. ANNOUNCED SETTLEMENT OF CLASS ACTION LITIGATION

 MIAMI, June 11 /PRNewswire/ -- Royce Laboratories, Inc. (NASDAQ: RLAB) announced today that it has entered into a Settlement Stipulation resolving the class action litigation, which has been filed. The terms of the settlement are subject to court approval. It is anticipated that court review of the terms of the settlement will take place during the third quarter of 1993.
 Under the terms of the stipulation, the company will be obligated to pay the following consideration to the class members as part of the settlement: (i) $850,000 in cash (which is being funded by the company's directors & officers liability insurance); (ii) 750,000 shares of free-trading common stock; and (iii) five-year warrants to purchase 1,975,000 shares of the company's common stock at $5.00 per share.
 Patrick J. McEnany, president, commented, "We are very pleased to be able to resolve this litigation on what we believe are reasonable terms. While we firmly believe that the company and its officers and directors acted property in all respects, we also believe strongly that a resolution of this suit is in the best interest of the company and its shareholders."
 Royce Laboratories, Inc. is a manufacturer of off-patent prescription and over-the-counter pharmaceuticals.
 -0- 6/11/93
 /CONTACT: Patrick J. McEnany, chief executive officer of Royce Laboratories, Inc., 305-624-1500/
 (RLAB)


CO: Royce Laboratories, Inc. ST: Florida IN: MTC SU:

JB-PC -- FL001 -- 0952 06/11/93 08:56 EST
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Date:Jun 11, 1993
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