IVF America announces delisting of preferred stock; Company also decides not to pay quarterly dividend on preferred stock

Business Wire, Feb 8, 1996

PURCHASE, N.Y.--(BUSINESS WIRE)--Feb. 8, 1996--IVF America, Inc. (Nasdaq:IVFA, IVFAP) today announced it has been notified by Nasdaq that IVF America's preferred stock does not currently meet the minimum requirement of 400 preferred stockholders for listing on the Nasdaq National Market System (NMS), and, accordingly, the preferred stock will no longer be listed on the NMS.

The number of preferred stockholders fell below 400 as the result of a large portion of IVF America's preferred stockholders accepting the Company's conversion offer, completed November 10, 1994, of three shares of common stock and $0.20 cash per share of preferred stock. Effective February 9, 1996, IVF America's preferred stock will trade in the Over-the-Counter (OTC) market.

"As we indicated when we made our conversion offer to IVF America's preferred stockholders, we felt there was a strong possibility that the remaining preferred stock might be delisted," said Gerardo Canet, president and chief executive officer of IVF America. "Of course, IVF America's common stock will continue to trade on the Nasdaq NMS."

The Company also announced that its Board of Directors determined not to declare and pay the $.20 per share quarterly dividend on its outstanding preferred stock, payable February 15, 1996, the seventh consecutive quarterly dividend not paid.

IVF America, based in Purchase, New York, manages eight medical groups affiliated with clinical facilities and laboratories in the northeastern and central United States. These facilities and laboratories provide therapeutic and diagnostic infertility and assisted reproductive technology (ART) services to infertile couples seeking to achieve pregnancy and have a baby. Currently, there are 5.3 million infertile couples in the United States, totaling a $1 billion U.S. infertility market. -0- Editor's Notes: This release is available on the Internet at http://www.noonanrusso.com A fact sheet on IVF America is available via fax through Feb. 22 by calling 212/696-4455 ext. 329 and requesting document number 700.

CONTACT: IVF America Inc.

Dwight P. Ryan, 914/253-8000 ext. 243

or

Noonan/Russo Communications Inc.

212/696-4455

Rich Tammero (media) ext. 222

or

Jessica Livingston (investor) ext. 229