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WESTMARK ANNOUNCES SHAREHOLDERS APPROVE SPACELABS SPIN-OFF

 WESTMARK ANNOUNCES SHAREHOLDERS APPROVE SPACELABS SPIN-OFF
 SEATTLE, May 18 /PRNewswire/ -- Westmark International Inc. (NASDAQ: WMRK) announced today that its shareholders have voted to approve the proposal to separate the company into two publicly owned companies, Westmark and SpaceLabs Medical Inc. Westmark will be renamed Advanced Technology Laboratories Inc. (ATL) and begin trading on NASDAQ under the symbol ATLI on June 29. SpaceLabs will begin trading on NASDAQ on a "when issued" basis under the symbol SLMD on June 17.
 Dennis C. Fill, chairman and chief executive officer of Westmark, will serve as chairman and chief executive officer of ATL. Carl A. Lombardi, president of SpaceLabs, will serve as chairman and chief executive officer of SpaceLabs.
 The proposal will be effected by distributing the shares of Westmark's subsidiary, SpaceLabs, to Westmark's shareholders on or about June 26 as a tax-free dividend. Shareholders of record as of June 17 will receive one share of SpaceLabs for each share of Westmark held.
 "ATL and SpaceLabs have made great progress in terms of growth, technology and profitability since the spin-off of Westmark to Squibb shareholders at the beginning of 1987. We believe their continuing progress provides a strong foundation for their future successes as independent, public companies," said Fill.
 Westmark, with headquarters in Seattle, is a worldwide developer, manufacturer and distributor of diagnostic ultrasound systems through Advanced Technology Laboratories Inc. of Bothell, Wash., and electronic patient monitoring systems through SpaceLabs Inc. in Redmond, Wash.
 -0- 5/18/92
 /CONTACT: Anne Marie Bugge of Westmark International, 206-682-6800/
 (WMRK) CO: Westmark International Inc.; Advanced Technology Laboratories
 Inc.; SpaceLabs Medical Inc. ST: Washington IN: MTC SU:


SC-LM -- SE002 -- 1356 05/18/92 13:00 EDT
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Publication:PR Newswire
Date:May 18, 1992
Words:278
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