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STOCKHOLDERS APPROVE THE MERGER OF SILICON GRAPHICS AND MIPS COMPUTER SYSTEMS; SILICON GRAPHICS SELLS 3.6 MILLION COMMON SHARES

 STOCKHOLDERS APPROVE THE MERGER OF SILICON GRAPHICS AND MIPS COMPUTER SYSTEMS; SILICON GRAPHICS SELLS 3.6 MILLION COMMON SHARES
 MOUNTAIN VIEW, Calif., June 22 /PRNewswire/ -- Stockholders of Silicon Graphics Inc. (NYSE: SGI) and MIPS Computer Systems Inc. (NASDAQ: MIPS), today at separate stockholder meetings voted to approve the merger of the two companies.
 Under the terms of the agreement MIPS' stockholders will receive 0.52 shares of Silicon Graphics common stock for each share of MIPS common stock owned. MIPS has approximately 26 million shares outstanding.
 Silicon Graphics also announced the offering of 3.6 million shares of common stock at a price of $17.125 per share through a combination of direct sales and a public offering. The public offering was done through a syndicate led by Morgan Stanley & Co. Inc. and Unterberg Harris. Approximately 1.7 million shares were purchased by 11 of Silicon Graphics' international technology partners. They are Control Data Corp., Daikin Industries Ltd., Integrated Device Technology Inc., LSI Logic, NEC Corp., NKK Corp., Sumisho Electronics Co. Ltd., Sumitomo Corp., Tandem Computers Inc., Tata Enterprises Overseas, and Toshiba America Electronic Components Inc.
 The issuance of additional shares was a technical requirement in order for the company to account for the merger using the pooling of interests method. The issuance of 3.6 million shares will occur before the closing of the merger, which is expected to occur on June 29, 1992.
 Silicon Graphics Inc. is a leading manufacturer of visual computing systems. The company delivers three-dimensional graphics, color, audio, video and real-time motion technologies to the technical and scientific computing marketplace. Silicon Graphics Inc. has offices worldwide and headquarters in Mountain View.
 -0- 6/22/92
 /CONTACT: Marilyn Lattin (investor relations), 415-390-5070; or Jill Grossman (public relations), 415-390-1516, both of Silicon Graphics/
 (SGI MIPS) CO: Silicon Graphics; MIPS Computer System ST: California IN: CPR SU: TNM


MM -- SJ003 -- 2586 06/22/92 17:14 EDT
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Publication:PR Newswire
Date:Jun 22, 1992
Words:319
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