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SEATTLE FILMWORKS COMPLETES ACQUISITION

 SEATTLE, Jan. 13 /PRNewswire/ -- Seattle FilmWorks Inc. (NASDAQ: FOTO) today announced that it has completed the purchase, for cash, of selected assets of Private Label Film Inc. The assets relate to the manufacture and sale of private-label photographic film and related products to retailers and commercial users. The acquired operations generated revenues of nearly $3 million during the 12-month period ended Nov. 30, 1993. Private Label Film Inc. located in Lakebay, Wash., near Tacoma, was a competitor to Seattle FilmWorks' OptiColor business unit which provides a similar product line to the same markets throughout the United States. A portion of the purchase price is payable over the next 13 months, a significant portion of which is contingent upon future sales to acquired customer accounts.
 "We are pleased with the rapid closing of this transaction. The acquired operations should contribute to an improvement in earnings and earnings per share while fitting strategically into our existing business structure," noted Gary Christopherson, president and chief executive officer.
 -0- 1/13/94
 /CONTACT: Gary Christopherson, chief executive officer, or Jim Smith, chief financial officer, of Seattle FilmWorks, 206-281-1390/
 (FOTO)


CO: Seattle FilmWorks Inc.; Private Label Film Inc. ST: Washington IN: SU: TNM

JH-SG -- SE004 -- 1037 01/13/94 11:20 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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