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TSI ANNOUNCES FINANCING INTENTION, CONVERTIBILITY OF PREFERRED STOCK

 TSI ANNOUNCES FINANCING INTENTION, CONVERTIBILITY OF PREFERRED STOCK
 WORCESTER, Mass., Dec. 9 /PRNewswire/ -- TSI Corporation (NASDAQ: TSIN) announced today its intention to file a registration statement for the sale of an undetermined number of shares of its Common Stock. The offering is expected to occur in early 1992 and will include shares offered by the company and shares offered by selling shareholders other than officers and directors.
 The company also announced today that 1,035,000 of the 2,028,682 outstanding shares of TSI Convertible Preferred Stock have become convertible into TSI Common Stock on a share-for-share basis. The shares became convertible at each holder's option, once the 90-trading-day average of the daily average sale price of the Common Stock exceeded $9.25, which occured as of the close of trading on Dec. 6, 1991.
 TSI is a life sciences company offering in vivo preclinical and toxicology testing services, human clinical and in vitro testing services, and diagnostic intermediate products. TSI is also developing toxicology tests and disease models based on genetic engineering and transgenic techniques for use in the pharmaceutical/chemical development process.
 -0- 12/9/91
 /CONTACT: Munro Pitt, senior vice president of TSI Corporation, 508-755-0550; or Peter Feinstein of Feinstein Partners, 617-577-8110, for TSI Corporation/
 (TSIN) CO: TSI Corporation ST: Massachusetts IN: MTC SU:


DD-PB -- NE003 -- 0406 12/09/91 09:06 EST
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Publication:PR Newswire
Date:Dec 9, 1991
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