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XiTec Announces Purchase of Senior LenderNote.

Publication: Business Wire
Date: Wednesday, April 22 1998

EAST WINDSOR, Conn.--(BW HealthWire)--April 22, 1998--XiTec Inc. announced that its note payable to their senior lender has been purchased by a long-term stockholder in the company. XiTec has been operating under a forbearance agreement with the senior lender since Nov. 30, 1997 which comes to

an end with the note purchase. The note purchaser will assume the same secured position held by the previous note holder.

XiTec's President and CEO, Michael J. Sullivan, said, "I am very pleased with the note purchase transaction and am encouraged by our near term prospects." He added that the purchaser of the note was continuing his due diligence process exploring the possibility of either an equity investment in or an acquisition of XiTec.

XiTec designs, develops and distributes mini C-arm portable fluoroscopic imagining systems with medical, veterinary and non-destructive test applications.

CONTACT: XiTec Inc.

Michael J. Sullivan, 860/627-7500

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Subject: Securities, Medical imaging equipment
Company: Xitec Inc. Securities 00112086
Product: Medical Instruments and Supplies, Medical Imaging & Scanning, Electromedical and Electrotherapeutic Apparatus Manufacturing

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