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UPDATE OF ATEK METALS CENTER, INC. "GOING PRIVATE" TRANSACTION

 CINCINNATI, Feb. 10 /PRNewswire/ -- The special committee of the board of directors of Atek Metals Center, Inc. (NASDAQ/NMS: ATKM) reported today that it had commenced its review of the previously announced proposal by certain shareholders of Atek to take Atek private through the payment of $3.00 per share in cash to Atek's public shareholders.
 The committee, which consists of Harvey B. Fuller, Thomas S. Heldman and Carter F. Randolph, reported that it had been authorized and directed by the full board of directors to "receive and review any recommendations or proposals that may be made or proposed to enhance shareholder value and to recommend to the board of directors appropriate action with respect to any such plans or proposals ... (with) full authority to negotiate with management the terms of any proposal to take the company private, to seek alternative proposals from third parties and to recommend such other action as the committee may deem appropriate to enhance shareholder values."
 The committee is proceeding to review the current $3.00 per share proposal and, to assist it in its review, has engaged, as its legal counsel, Taft, Stettinius and Hollister of Cincinnati and as its financial advisor, The Ohio Company of Columbus, Ohio.
 In accordance with its authority, the committee has determined that is should solicit alternative proposals from third parties. It is anticipated that the committee and The Ohio Company will identify potential interested parties and make available to them information concerning Atek for the purpose of determining their interest in proposing an alternative transaction. Parties who wish to receive such information should contact The Ohio Company, Attn: Curtis D. Milner, 155 Broad St., Columbus, OH, 43215, or call 614-464-6988, or fax 614-464-8706.
 -0- 2/10/93
 /CONTACT: Barry F. Bucher, president of Atek Metals Center, Inc., 513-874-3490/
 (ATKM)


CO: Atek Metals Center, Inc. ST: Ohio IN: MNG SU:

KK -- CL018 -- 5341 02/10/93 16:33 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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