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TJ SYSTEMS CORPORATION PUBLIC OFFERING

    HAUPPAUGE, N.Y., Aug. 5 /PRNewswire/ -- TJ Systems Corporation (NASDAQ: TJSY) announced its public offering today of 320,000 shares of its series A convertible preferred stock at a price of $10 per share. Paulson Investment Company acted as Managing Underwriter of the offering.
    The shares of series A preferred stock, which have a liquidation preference of $10 per share, are convertible into 14 shares of the company's common stock and yield dividends at an annual rate of $1 per share.  Upon conversion of the shares of series A preferred stock, the holder will receive warrants to purchase ten additional shares of common stock.
    Theodore J. Orlando, chairman of TJ Systems Corporation, said that the proceeds from the offering will be used to repay indebtedness and to provide additional working capital to finance the growth of the company's business.
    TJ Systems, through its wholly owned subsidiary TJ Computer Services, Inc., is engaged primarily in the leasing of a wide variety of computer and telecommunications equipment it owns to large corporations, including: The Hertz Corporation; Tiffany & Co.; Bed Bath & Beyond and Grumman Aerospace, which have extensive information and teleprocessing needs.
    -0-             08/05/93
    CONTACT:  Theodore J. Orlando, chairman & CEO, of TJ Systems, 516-273-9130, or Anthony J. DiMaio, investor relations, of Anthem Communications, 212-943-8998, for TJ Systems
    (TJSY) CO:  TJ SYSTEMS CORPORATION IN:  CPR SU:  OFR ST:  NY


-- NY077 -- X307 08/05/93
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Publication:PR Newswire
Date:Aug 5, 1993
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