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Biotech / Medical : Ergobilt (ERGB) - Ergonomic Chairs -- Ignore unavailable to you. Want to Upgrade?

To: DaWentz who wrote (823)	5/8/1998 2:58:00 PM
From: tonto	Respond to of 900

It is getting uglier: Friday May 8, 1:34 pm Eastern Time Company Press Release SOURCE: ErgoBilt, Inc. ErgoBilt Calls Special Board Meeting for Next Week DALLAS, May 8 /PRNewswire/ -- ErgoBilt, Inc. (Nasdaq: ERGB - news) today announced it has called a special meeting of its board of directors for next week to review proposals recently received to acquire its ErgoFon'iks and Cheetah operations and to appoint an investment banking firm to advise on the possible sale of one or more of its operating units. In addition, the company reported that Laurence D. King has resigned as a director effective May 5. Mr. King cited personal reasons, the company said. ''Having worked with the company through the recent management turmoil, I realized the time commitment involved greatly exceeded my initial expectations. Reluctantly, I find it necessary to resign to focus on my family and my own business,'' commented Mr. King. ErgoBilt, with headquarters in Dallas, is a developer and marketer of ergonomic products and technology that improve workplace productivity. The Company has two operating units -- BodyBilt, Inc. and ErgoFon'iks, Inc. The Company's common shares are traded on the Nasdaq National Market System under the symbol ERGB. Note: Except for historical information contained herein, some matters set forth in this news release may be forward-looking statements that are dependent on certain risks and uncertainties including, but not limited to, such factors as the current management disagreements, pending corporate plans on direction, possible valuation and sale of various company units, the company's cash flow, continued commercially viable ergonomic products and the continued availability of credit to the company. Investors should also consider other risks and uncertainties set forth in documents filed by the company with the Securities and Exchange Commission. SOURCE: ErgoBilt, Inc.