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TELECONCEPTS SETS NEW DATE FOR SPECIAL MEETING TO APPROVE MERGER WITH THERMASCAN - PRIVATE PLACEMENT FULLY COMMITTED

 TELECONCEPTS SETS NEW DATE FOR SPECIAL MEETING TO APPROVE MERGER
 WITH THERMASCAN - PRIVATE PLACEMENT FULLY COMMITTED
 HOUSTON, Aug. 3 /PRNewswire/ -- TeleConcepts Corporation (AMEX: TCC), today announced that its special meeting in lieu of annual meeting of stockholders has been rescheduled from July 30, 1992 to Aug. 21, 1992. The meeting, to take place in New York City, will be open to stockholders of record as of June 22, 1992. The company's registration statement was declared effective by the Securities and Exchange Commission on Friday, July 31, 1992 at 5:30 p.m., EDT, and proxy materials containing information regarding the meeting, including the merger and its administrative procedures, were mailed on Saturday.
 TeleConcepts also today announced that it has received cash and firm commitments well in excess of $5 million relating to the placement of new equity with private investors in Europe and the Middle East.
 The purpose of the meeting is (A) to approve an Agreement and Plan of Reorganization among Teleconcepts and Thermascan, Inc. (NASDAQ: THEM) which calls for (1) the spin-off of the telephone business to the stockholders, (2) the private placement of common stock, (3) the merger of Thermascan with TeleConcepts, and (4) the change of name of the combined companies to Viral Testing Systems Corporation; (B) to elect directors of Teleconcepts; (C) to increase the authorized common stock from 15 million shares to 30 million shares; (D) to authorize the issuance of up to 5 million shares of preferred stock from time to time in one or more series; and (E) to approve a new stock option plan.
 With respect to the private placement, which must be completed in the minimum amount of $3,500,000 prior to the merger, TeleConcepts has received cash and firm commitments from investors in Europe and the Middle East to purchase approximately 2,778,810 per-merger shares at prices which, if these transactions successfully close, will yield estimated gross proceeds aggregating about $5,800,000.
 TeleConcepts currently designs and markets telephones and telephone devices for residential and commercial use. Thermascan has exclusive North American rights to market and sell an FDA approved test for AIDS, called Fluorognost, and a panel of fourteen all-human monoclonal antibody reagents which are directed against the HIV-1 virus. After the merger, the medical diagnostics and biotech business will continue in a separate company, Viral Testing Systems Corporation, and telephone business will continue as Teleconcepts, Inc.
 -0- 8/3/92
 /CONTACT: Holly Vaughan of TeleConcepts, 713-228-4633/
 (TCC THEM) CO: TeleConcepts Corporation; Thermascan, Inc. ST: Texas IN: TLS SU:


TS-KW -- NY036 -- 6081 08/03/92 11:10 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
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