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SANBORN ANNOUNCES NEW BANK AGREEMENT

 WRENTHAM, Mass., July 23 /PRNewswire/ -- SANBORN, Inc. (NASDAQ: SBRN), "Leaders in Liquid Waste Management," today announced that it is no longer in default of its bank credit line, as a result of signing an amendment to the existing loan agreement.
 George W. Sanborn, president and chief executive officer, indicated, that the new terms were agreed upon following negotiations with the Bank of Boston. The company's restructuring activities, which caused the temporary default, were designed to increase the company's efficiency and profitability. "We are confident that our decision to shift Sanborn's emphasis to the service sector of the liquid waste market and to divest the company of operations which were in non-related businesses will best serve the long term interest of our shareholders." The chief executive added, "It is Sanborn's objective to provide the most cost effective solution to the wastewater problems of industrial and municipal customers, and it is this conviction that has caused us to focus primarily on this market." He indicated that the company's lenders are in agreement with this business strategy to concentrate on the expansion of free standing wastewater treatment facilities.
 It is expected that second quarter results will be released in August. As previously announced, the second quarter results will include a non-recurring write down of assets, restructuring charges and operational losses as a result of the company's decision to place its emphasis on the service sector. At this time, the company anticipates improved results for the third and fourth quarters.
 Sanborn Inc. is a leading provider of liquid waste management systems and services.
 -0- 7/23/93
 /CONTACT: Lori J. Dubofsky of Sanborn, 617-742-5020/
 (SBRN)


CO: Sanborn, Inc. ST: Massachusetts IN: ENV SU: FNC

DJ -- NE002 -- 5056 07/23/93 10:24 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
Words:289
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