October 28, 1994 -- Highland, NY - Plasmaco, Inc. today announced a major
restructuring of its operations as a first step towards enabling the
company to pursue the commercialization of its recently demonstrated
full-color flat panel display. The total financing, which included debt
restructuring and new equity, exceeded $6 million.

The working capital infusion was provided by a new group of U.S. based
private investors. The new investors, which now own a majority of the
outstanding stock of Plasmaco, will become active participants in the
financing and operation of the company. The new equity financing and
restructuring was spearheaded by Atlantic Venture Group, Inc., a New York
City based merchant banking firm, together with a group of new
shareholders lead by Samuel Schwartz, the Chairman of Sono-Tek Corporation
(SOTK), a Milton based manufacturer of Ultrasonic spray products.

Stephen E. Globus, Chairman of Globus Growth Group, Inc., a New York City
based investment firm, will become the Chairman of Plasmaco with John J.
Antretter (the President of Atlantic Venture Group) assuming the positions
of Acting Chief Executive Officer and Director. Dr. Larry F. Weber, a
founder of Plasmaco in 1987, was named President and a Director of the
company, Donald F. Neville, Vice President of Atlantic Ventures, was named
Chief Financial Officer and a Director, and Michael J. Sprague was elected
a Vice-President of the Company. Additional Directors include Wolfgang
Drescher, Samuel Schwartz, and James L. Kehoe.

Plasmaco has recently demonstrated a working prototype of its 21 inch
diagonal, full color display capable of better than television quality
images which is less than two inches thick. Capable of displaying a total
of 16.7 million colors, this display is virtually identical in image
quality, brightness, viewing angle, and speed to a cathode ray tube (CRT).
The CRT is the display technology used today for virtually all computer
monitors and television sets. Engineering evaluation units are anticipated
to be available early in 1995.

Color plasma displays are thin, offer high quality images, and can be made
in very large screen sizes. As a result, display-industry analysts believe
that the first hand-on-the-wall large-screen high-definition television
(HDTV) sets will use color plasma displays.

According to Dr. Larry F. Weber, "The combination of a significantly
cleaned up balance sheet, the infusion of new working capital, and the
resources of the new board of directors should position Plasmaco to pursue
all of the business and engineering activities required to get our
state-of-the-art full color display to market."

Plasmaco was founded in 1987 when it acquired production equipment and
technology from IBM. The company is located in Highland, NY, and currently
employs approximately 30 people.

Plasmaco Inc
180 South St
Highland, NY 12528

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