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SECURITY ENVIRONMENTAL SYSTEMS CANCELS SHARES

 SECURITY ENVIRONMENTAL SYSTEMS CANCELS SHARES
 GARDEN GROVE, Calif., Aug. 20 /PRNewswire/ -- Stephen Grossman,


president of Security Environmental Systems (NASDAQ: SENV) announced today the cancellation of 2,012,065 shares issued to Alfred, Stephen and Jonathan Grossman in October 1991. The shares were issued as consideration for various guarantees given by the Grossmans in 1991 as required by third parties which loaned funds or leased property to SES or issued letters of credit on behalf of SES. The cancellation of shares reduces the total number of shares outstanding from 12,625,888 to 10,613,823; effective as of Aug. 20, 1992.
 Separately, the company also announced that Jonathan Grossman, formerly treasurer, vice president and a director, has resigned from those positions for personal reasons. Grossman will continue to be involved with the company on a consulting basis.
 Security Environmental Systems, founded in 1972, disposes of biomedical and hazardous waste by incineration and steam sterilization and conducts interstate transportation of hazardous waste. The company operates from facilities in Garden Grove, Vernon and Long Beach, Calif. The company will be opening offices in Albuquerque, N.M. and Phoenix within the next 30 days.
 -0- 8/20/92
 /CONTACT: Jonathan Grossman, executive VP and CFO of Security Environmental Systems, 714-892-6645, or William F. Coffin of Financial Relations Board, 818-783-2400, for Security Environmental/
 (SENV) CO: Security Environmental Systems ST: California IN: SU:


JB-AL -- LA026 -- 1955 08/20/92 18:55 EDT
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Publication:PR Newswire
Date:Aug 20, 1992
Words:237
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