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SPECTRUM INFORMATION TECHNOLOGIES, INC. CLEARS THE AIR ON "INSIDER" SELLING REPORT

 DALLAS, May 24 /PRNewswire/ -- Spectrum Information Technologies, Inc., (Spectrum) Manhasset, N.Y. (NASDAQ-NMS: SPCL), responded to statements made in a May 21 New York Times article regarding the sale of "insider" Spectrum stock. No officer or director of Spectrum bought or sold Spectrum stock at any time during the negotiations with AT&T leading up to the signing of the AT&T/Spectrum license agreement or since the company's May 11 press release announcing the signing of a license agreement with AT&T relating to Spectrum's patented cellular data transmission technology. Shareholders who held restricted shares in Spectrum may have sold stock in the recent market upturn, but these shareholders are not officers or directors of Spectrum, have no involvement with management of the company and have no access to non- public information regarding Spectrum's business.
 Spectrum Information Technologies, Inc. is headquartered in Manhasset, N.Y., with facilities nationwide. Spectrum develops and licenses wireless data transmission technologies through its subsidiary Spectrum Cellular Corporation. The company designs, markets and services portable communications and computing systems as a systems integrator through its subsidiary Data One. Spectrum is a distributor of portable computers through its subsidiary Computer Bay, which has the resources of 270 franchise locations.
 -0- 5/24/93
 /CONTACT: Kathy L. Bachand, investor relations, 800-FOR-SPCL or Peter T. Caserta, president and CEO, 516-627-8992, both of Spectrum Information Technologies, Inc./
 (SPCL)


CO: Spectrum Information Technologies, Inc. ST: New York IN: TLS SU:

LR -- NY054 -- 1662 05/24/93 11:27 EDT
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Publication:PR Newswire
Date:May 24, 1993
Words:249
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