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STYLES ON VIDEO DECLARES RIGHTS OFFERING

 CANOGA PARK, Calif., April 18 /PRNewswire/ -- Styles on Video Inc. (AMEX: SOV) today announced that on April 13, 1994 the board of directors of Styles on Video Inc. declared a dividend distribution of rights (the "rights") to purchase an aggregate of 1,000,000 shares of the common stock, par value $.001 per share (the "Dycam common stock") of its subsidiary Dycam Inc., to the holders of its common stock of record at the close of business on May 20, 1994 (the "record date"). Each holder of Styles common stock on the record date will receive one right for each five shares of Styles common stock held on the record date, rounded up to the nearest whole share. Fractional rights will not be issued. Each right will entitle the holder thereof to purchase one share of the Dycam common stock for a subscription price of $6 per share. This rights offering is in lieu of the previously announced public offering of Dycam common stock. The distribution date of rights will coincide with the effective date of a registration statement which Dycam expects to file with the Securities and Exchange Commission on or about April 27, 1994. The company will issue a further press release when the exact distribution date has been determined. The rights will be exercisable for a three-week period commencing on the distribution date. U.S. Stock Transfer Corp. will act as the transfer agent and rights agent.
 The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective, and sales of the securities will be made only by means of a prospectus. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification of the securities under the laws of any such state.
 -0- 4/18/94
 /CONTACT: Guy de Vreese of Styles on Video, 818-595-0104/
 (SOV)


CO: Styles on Video Inc.; Dycam Inc. ST: California IN: ENT SU: OFR

MF-MC -- LA025 -- 7653 04/18/94 11:54 EDT
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Publication:PR Newswire
Date:Apr 18, 1994
Words:368
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