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THE ALPINE GROUP COMPETES $5 MILLION PRIVATE PLACEMENT OF PREFERRED STOCK

 THE ALPINE GROUP COMPETES $5 MILLION
 PRIVATE PLACEMENT OF PREFERRED STOCK
 NEW YORK, April 27 /PRNewswire/ -- The Alpine Group, Inc. (AMEX: AGI) announced today that it has completed a private placement of $5.0 million of 9 percent cumulative convertible preferred stock, convertible into common stock at $10 per share. The proceeds will be used for capital and operational requirements of the company's Alpine PolyVision, Inc. subsidiary and for general working capital. Raymond James & Associates, Inc. acted as placement agent in connection with the placement.
 The Alpine Group, Inc. is a holding company with continuing operations in information display related businesses. Through its Alpine PolyVision, Inc. subsidiary, Alpine is developing PolyVision, a proprietary flat panel display technology, for commercial applications in a wide variety of markets. A recently acquired subsidiary, Dataproducts New England, Inc., specializes in the advanced design, development, engineering and manufacture of electronic components and systems. Alpine's information display activities also include Posterloid Corporation, which manufactures and markets menuboard display systems to fast food and convenience store markets.
 -0- 4/27/92
 /CONTACT: Steven S. Elbaum, chief executive officer of the Alpine Group, 212-757-3333, or June Filingeri or Bernie Kilkelly of Morgen- Walke Associates, 212-986-5900, for the Alpine Group.
 (AGI) CO: Alpine Group, Inc. ST: New York IN: SU:


PS-LR -- NY007 -- 2893 04/27/92 07:30 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
Words:220
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