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TIE/COMMUNICATIONS, INC. PROPOSES GOING PRIVATE TRANSACTION TO THE BOARD OF DIRECTORS OF TIE CANADA

 SEYMOUR, Conn., June 22 /PRNewswire/ -- TIE Canada's major shareholder, TIE/communications, Inc. (AMEX: TIE; TSE, ME: TTI), today announced it has proposed a going private transaction to the board of directors of the company whereby all minority shareholders would receive $1.25 Cdn. in cash for each of their common shares and TIE would become the sole shareholder of the company. It is anticipated that a committee of the board of directors will be created to consider the proposal and report back to the board in early July. The proposal would require the approval of a majority of the company's minority shareholders, voting at a special meeting which could be held in early August.
 TIE/communications, Inc., recently acquired 804,000 TIE Canada common shares (9.7 percent of the issued and outstanding TIE Canada common shares) in a transaction with an arm's length party at a price of $1.25 Cdn. per common share.
 TIE is currently the holder of 6,000,000 common shares of the company, representing approximately 73 percent of the company's issued and outstanding common shares.
 TIE/communications, Inc., operates 68 TIE systems offices in the United States and Canada. TIE has an installed base of 11 million telephones, making it one of the largest communications organizations in North America.
 TIE is a member of the Marmon Group of companies, an international association of more than 60 autonomous manufacturing and service companies with annual sales in excess of $4 billion.
 -0- 6/22/93
 /CONTACT: Mark Amatrudo, C.F.O. of TIE/communications, 203-888-8004/
 (TIE)


CO: TIE/communications, Inc. ST: Connecticut IN: TLS SU:

GK-LR -- NY049 -- 4568 06/22/93 12:26 EDT
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Publication:PR Newswire
Date:Jun 22, 1993
Words:278
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