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Work Recovery, Inc.'s Plan for Reorganization is Confirmed

TUCSON, Ariz., Nov. 26 /PRNewswire/ -- Work Recovery, Inc. (WRI) announced today the confirmation of its Amended Joint Plan of Reorganization. The Company's Reorganization Plan was confirmed at a hearing today in the United States Bankruptcy Court for the District of Arizona. The Bankruptcy Court ruled that the plan was fair and equitable following the acceptance of the Plan by the Company's creditors and shareholders. Judge James M. Marlar stated that Work Recovery's confirmation is "one of the rare cases where shareholders receive anything."

The Plan of Reorganization will allow the Company to restructure its pre- petition debt and continue operations without Court supervision. Upon emergence from Chapter 11, expected to be effective February 1, 1997, and completion of its fiscal 1996 quarterly reports, the Company will be in compliance with the Securities and Exchange Commission and plans to apply for listing with a major stock exchange.

Acting President and Chief Executive Officer Dorcas R. Hardy said, "Emerging from bankruptcy is a milestone in the turnaround of Work Recovery. It will mean that our work to restore value to our shareholders and grow this Company has just begun. Our focus will be upon increased sales, quality of ERGOS(R) training certification, enhanced customer support and service, and development of new ERGOS(R) related products." Hardy also stated, "Although our work is far from being done, we are encouraged about how far the Company has come in a short time."

Work Recovery, Inc. manufactures, markets and licenses its proprietary objective Functional Capacity Evaluation (FCE) technology, ERGOS(R), for the evaluation of injured workers.

SOURCE Work Recovery, Inc.
 -0- 11/26/96

/CONTACT: Jake Mendoza, 520-322-6634/


CO: Work Recovery, Inc. ST: Arizona IN: SU:

SK-BG -- LATU032 -- 4332 11/26/96 11:12 EST
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Publication:PR Newswire
Date:Nov 26, 1996
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