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VIDEOCART ANNOUNCES COMPLETION OF $14.7 MILLION EXCHANGE OFFER

 CHICAGO, July 29 /PRNewswire/ -- VideOcart (NASDAQ: VCRTC) announced today that an Exchange Agreement with holders of $14.7 million aggregate principal amount of the company's 7 percent Convertible Subordinated Promissory Notes was signed. The Exchange Agreement converts these Notes into 147,000 shares of a newly created Series D Convertible Preferred Stock which has a 7 percent cumulative annual dividend and is convertible into the company's common stock, with the number of shares issuable upon conversion determined by dividing $100 by the conversion price of $5.544 per share.
 The company's common stock has been trading on the NASDAQ National Market System pursuant to an exception from the NASD's minimum capital and surplus requirements. As a result of the increase in capital and surplus attributable to this transaction, the company believes its common stock will continue to be traded on the NASDAQ National Market System.
 -0- 7/29/93
 /CONTACT: James E. Hurley, chief financial officer of VideOCart, 312-987-5000/
 (VCRTC)


CO: VideOcart ST: Illinois IN: SU:

WB -- NY126 -- 7449 07/29/93 17:05 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
Words:175
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