Pallet Management Systems Inc. acquires Abell Industries

Business Wire, June 30, 1995

BOCA RATON, Fla.--(BUSINESS WIRE)--June 30, 1995--Pallet Management Systems Inc. (NASDAQ/BB:PALT) Friday reported it completed its transaction of acquiring Abell Industries, a Virginia-based pallet company.

Abell has sales in excess of $20 million.

The acquisition was accomplished through the issuance of 2,260,143 shares of PALT common stock to the former shareholders of Abell. This acquisition is part of PALT's strategic plan to become a national full service pallet company.

PMSI is the first United States based publicly traded pallet company in the more than $6 billion U.S. pallet market. The company is a pioneer and leader in pallet management and recycling with operations along the East Coast of the United States and is currently in the process of expanding nationally.

CONTACT: Radcliffe & Associates Inc., New York

Donald Radcliffe, 212/605-0100

or

Pallet Management Systems Inc., Boca Raton

Zachary M. Richardson, President, 407/338-7763