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TAT TECHNOLOGIES LTD. ANNOUNCES EXTENSION OF WARRANTS

 TEL AVIV, Israel, Jan. 26 /PRNewswire/ -- TAT Technologies Ltd. (formerly Galagraph Limited) (NASDAQ: Units - TATUF; Shares - TATTF; Warrants - TATWF) today announced that it had extended the term of its Class A warrants and Class B warrants by one year to March 31, 1994. The Class A and Class B warrants were to have expired on March 31, 1993. The Calss A warrants are currently outstanding and entitle the holder to acquire, for $3.75, one ordinary share and one Class B warrant. The Class B warrants entitle the holder to acquire one ordinary share for $6.00.
 In connection with extending the term of the Class A and Class B warrants, TAT Technologies also announced that, commencing April 1, 1993, the Class A and Class B warrants would be subject to redemption by the company at a redemption price of $0.05 on 30 days' prior written notice, provided that the average closing bid price of the company's ordinary shares equal or exceeds $5.50 with respect to the Class A warrants and $7.75 with respect to the Class B warrants, in each case for the 10 days immediately prior to the notice of redemption.
 TAT Technologies also stated that it was commencing work on a registration statement to be filed with the Securities and Exchange Commission to permit the exercise of the Class A and Class B warrants. Until such registration statement becomes effective and certain state securities law clearances are received, holders of the Class A and Class B may not exercise their warrants.
 TAT Technologies Ltd. operates principally in two ict heat exchangers, primarily for use in aircrafts and airborne systems. The Computer Systems Division specializes in graphics and video systems, display simulation and testing and transportation systems.
 -0- 1/26/93
 /CONTACT: Israel Ofen, managing director of TAT Technologies, 972-3-455-563/
 (TATTF)


CO: TAT Technologies Ltd. ST: IN: SU:

SM-WB -- NY064 -- 9107 01/26/93 13:15 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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