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Gold/Mining/Energy : IDS Intelligent Detection Systems (ISD.TO) -- Ignore unavailable to you. Want to Upgrade?

To: Frank Ferrari who wrote (97)	10/26/1999 9:38:00 AM
From: Michael Block	Read Replies (1) \| Respond to of 149

NEWS NEWS NEWS IDS announces that its subsidiary Scintrex Limited to acquire Micro-g Solutions Inc. Acquisition fuels company's continued growth in geophysical marketplace TORONTO, Oct. 26 /CNW/ - Toronto-based IDS Intelligent Detection Systems (TSE:ISD) announced today that its subsidiary company Scintrex Limited has entered into an agreement to acquire Micro-g Solutions Inc., a Colorado based geophysical instrument company and the world's only commercial manufacturer of absolute gravimeters for the geophysical research community and the oil and gas industry. ''Micro-g has a solid reputation for excellence, high quality and innovation,'' says Dr. Mariusz Rybak, chairman and CEO, IDS. ''This company is committed to leading the revolution already underway in the measurement of gravity by a new generation of absolute gravity meters.'' Micro-g has recently developed a new miniaturized absolute gravimeter, which can acquire data at a much higher rate than previous models. The new instrument will aid in the acquisition of absolute gravity for geophysical investigations and survey applications and enable the development of a new generation of land, marine and airborne absolute gravimeters. ''Market acceptance of Micro-g products has increased and we believe the company can gain a significantly larger share of the existing gravity instrumentation business,'' says Rybak. ''With the introduction of a new small portable absolute gravimeter, Micro-g will complement Scintrex's existing line of spring gravimeters and well established sales and marketing channels to significantly increase its market share in the years to come.'' The proposed acquisition of Micro-g Solutions Inc., is subject to various conditions, including the execution of definitive agreements, due diligence and regulatory approvals. IDS is a dynamic developer, manufacturer and marketer of sophisticated detection devices and systems. The company operates through seven business units: Analytical & Security products and solutions, IDS Power Control Systems, Scintrex Earth Science Instrumentation, Survey & Exploration Technology Services, IEC (Integration, Engineering and Consulting), ChemiCorp International and Caduceon Inc. Its more than 70 products range from drug and explosive detectors to nuclear safety control instruments, oil and gas exploration and developing technologies for industrial process control and point-of-care health analysis. -30- For further information: Media Relations, Louise Armstrong, Advance Planning, (416) 967-3702; Investor Relations, Rick Conroy, Lexington Communications, (416) 588-1888; U.S. Contacts, Thomas Dean/Michael Block, Murdock Capital Partners, (212) 421-2545