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PerfectData to Distribute Vision Aerospace Stock

May 27, 1997|BARBARA MURPHY

PerfectData Corp. in Simi Valley has announced that it will distribute approximately 100,000 shares of Vision Aerospace common stock June 27 to its shareholders of record May 30.

These shares represent about 2.8% of the outstanding shares of Vision Aerospace. One share of Vision will be issued for every 30 shares of PerfectData held on the record date.

Joseph Mazin, PerfectData chief executive officer, said Vision Aerospace approached his company about the distribution so it could increase its shareholder base before it goes public. Currently there is no financial connection between the two companies, which have no directors or officers in common, Mazin said.

PerfectData is giving Vision some advice as part of the deal, Mazin said. In the future the companies may have directors or officers in common, he said.

"It's a good value for our shareholders [because Vision Aerospace] is a profitable company," he said. "There's no risk to our shareholders."

Vision Aerospace, located in Golden, Colo., was established in 1995 as an aircraft and aerospace parts redistributor specializing in commuter and regional aircraft carriers. In February, Vision purchased a bulk inventory consisting of parts for the Beach 1900 series aircraft.

PerfectData designs computer, office care and maintenance products and accessories.

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