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THE ALPINE GROUP RECEIVES SUBSCRIPTIONS FOR PRIVATE PLACEMENT OF PREFERRED STOCK

 THE ALPINE GROUP RECEIVES SUBSCRIPTIONS FOR PRIVATE PLACEMENT
 OF PREFERRED STOCK
 NEW YORK, April 21 /PRNewswire/ -- The Alpine Group, Inc. (AMEX: AGI) announced today that it has received and expects to close subscriptions for a private placement of $5.0 million of 9 percent cumulative convertible preferred stock, convertible into common stock at $10.00 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.
 Stephen S. Elbaum, chairman and chief executive officer, said, "The company is pleased that this private placement has been successfully subscribed. We are currently proceeding with development and testing of several product applications for PolyVision flat panel displays that are expected to result in production orders for the PolyVision pilot plant, which is scheduled to start up later this year, followed by a mass production facility in Wallingford, Conn. in 1993."
 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- 4/21/92
 /CONTACT: 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:


AH -- NY107 -- 0916 04/21/92 17:24 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
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