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UNIQUEST'S COMPLETION OF INITIAL FINANCING TO FOREIGN INVESTORS FURTHER BROADENS INVESTOR BASE

 JACKSONVILLE, Fla., July 21 /PRNewswire/ -- UNIQUEST Incorporated (NASDAQ: UQST) announced today the initial closing of its placement of $4.6 million of its common stock to foreign investors completed on July 20, 1993.
 UNIQUEST is offering, to foreign investors pursuant to Regulation S, up to 4.8 million shares of its common stock. The initial closing, comprised of approximately 1.9 million shares, resulted in net proceeds to the company of approximately $4.1 million. Such proceeds will primarily be used to satisfy the company's obligation to IBM Corporation resulting from the recent acquisition of Peter R. Johnson & Associates, Inc. (PRJ&) in May 1993.
 August P. Klein, chairman, president and chief executive officer, stated, "In addition to expanding our international operations through the recent acquisitions of Advanced Cybernetics International, Ltd. and PRJ&, we are pleased to welcome as UNIQUEST shareholders over 15 individual and institutional investors based in Europe. UNIQUEST's growth potential in Europe, Asia and Africa is greater than our potential growth in North America. This offering will serve to substantially increase market awareness and interest in UNIQUEST and its application solutions worldwide."
 UNIQUEST Incorporated is a leading provider of integrated software applications, systems and services to targeted markets including the retail, hospitality, healthcare and distribution industries worldwide. The growing family of UNIQUEST solutions uses advanced technology to help customers run their businesses better by improving critical day-to- day management, increasing operational efficiencies and enhancing revenue growth for improved operations and profitability.
 -0- 7/21/93
 /CONTACT: Marcus Shiveley, V.P. Finance of UNIQUEST, 904-363-0103; or Rod O'Connor of Cameron Associates, 212-644-9560, for UNIQUEST/
 (UQST)


CO: UNIQUEST Incorporated ST: Florida IN: CPR REA SU:

AW-RC -- FL004 -- 3911 07/21/93 11:41 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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