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VIKONICS AND RACAL SIGN AGREEMENT; RACAL CONVERTS PROFIT PARTICIPATION RIGHTS TO EQUITY

 VIKONICS AND RACAL SIGN AGREEMENT;
 RACAL CONVERTS PROFIT PARTICIPATION RIGHTS TO EQUITY
 SECAUCUS, N.J., April 1 /PRNewswire/ -- Vikonics Inc. (NASDAQ: VKSI), headquartered here, today announced it has executed an agreement with Racal Finance Ltd., Berkshire, England, whereby for the consideration of $20,000 and 50,000 restricted shares of Vikonics common stock, Racal has released Vikonics from all current and future obligations of the 1983 profit participation agreement.
 Under the 1983 agreement, Vikonics was to pay Racal a percentage of Vikonics' pre-tax profits up to a maximum aggregate amount of $500,000. One payment of $21,801 on this liability had previously been made by Vikonics.
 Racal Finance Ltd. is a subsidiary of Racal Electronics PLC, a worldwide electronics company based in the United Kingdom.
 Vikonics designs, manufactures, markets, installs and supports a line of sophisticated, computer-based security systems. The company markets its systems to defense contractors and government agencies as well as general commercial customers in domestic and international markets.
 -0- 4/1/92
 /CONTACT: John J. Strong of Vikonics, 201-863-6868; or Jimmy Caplan of Market Makers, 805-569-6919, for Vikonics/
 (VKSI) CO: Vikonics Inc.; Racal Finance Ltd. ST: New Jersey IN: CPR SU:


DM-JL -- LA002 -- 3713 04/01/92 08:01 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 1, 1992
Words:204
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