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To: Elliot who wrote (1212)	6/2/1998 12:03:00 PM
From: Logistics	Respond to of 8798

PJTV news: Rob D. Tuesday, Jun 2 1998 11:35AM ET Reply # of 709 **NEWS OUT* PR Newswire, Tuesday, June 02, 1998 at 11:03 NEW YORK, June 2 /PRNewswire/ -- Projectavision, Inc. (NASDAQ:PJTV) today announced several upgrades to its Digital Theater product, the first 100% digital projection system to combine a large front or rear screen VGA or SVGA computer display, a 60-inch rear projection TV, and a removable front projector that delivers quality images up to 20 feet in size. This second-generation product has been named Digital Theater Series II. The new unit will offer features such as its new Digital Comb Filter to enhance picture quality and resolution, Multi Standard PAL and SECAM for international markets, Variable Digital Zoom, Automatic Computer Image Scaling, Auto lock on cable signals for HRC, IRC and STD signals and Adjustable Electronic Convergence fine-tuning through the remote control. The Company is completing its pre-production manufacturing run and plans to deliver the new product in the USA and internationally this summer. Projectavision also announced today that it has received and accepted an investment proposal from a major U.S. institutional investment firm in connection with its acquisition of the assets of Vidikron Industries, SpA. The identity of the investor and the terms of the proposed investment were not disclosed. The investor has committed $5 million permanent equity capital, subject to Projectavision completing a total $15 million raise and satisfaction of a number of other terms and conditions, including completion of due diligence. The $15 million of new capital may consist of a combination of permanent equity capital and subordinated debt. The Company's investment banker, Hambro America Securities is continuing its efforts to complete the raise and conclude the transaction which will enable Projectavision to complete its acquisition of Vidikron, a leading home-theater manufacturer and distributor. Projectavision is a New York based company in the business of developing and marketing technological innovations in the electronics display and information industries. Projectavision has developed patented and patent pending technologies for interchangeable front and rear screen Home Theater Television systems. Projectavision's product, the Digital Home Theater(TM), which is the result of a joint development effort between Projectavision and Texas Instruments in an alliance. The Digital Home Theater has recently been introduced to select distributors in the USA. The picture quality, which is 100% digital, is considered to be exceptional. The product is used as either a 60-inch rear screen or up to 20 feet front projection television and computer display. Copies of Projectavision's press releases, SEC filings, current price quotes and other corporate information may be found on the website hawkassociates.com. The foregoing press release contains forward-looking statements, including statements regarding, among other things, the Company's expectation of its future business. These forward-looking statements are based largely on the Company's expectations and subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward-looking statements as a result of a variety of factors including, among others, the production schedules of unaffiliated third parties, availability of component parts, the ability to secure the balance of the necessary financing to complete the Vidikron acquisition, satisfaction of all other terms and conditions required by the institutional investor, consumer acceptance of the Company's products and prevailing economic conditions as they affect the consumer electronics industry in general. In light of these risks and uncertainties there can be no assurance that the forward-looking statements contained in this press release will in fact transpire or prove to be accurate. SOURCE Projectavision, Inc. -0- 06/02/98 /CONTACT: Executive Contact: Martin J. Holleran, CEO of Projectavision, 212-971-3000; or Media Contact: Alex Stanton of Stanton-Crenshaw, 212-780-1900, or alex@stantoncrenshaw.com, for Projectavision; or Institutional Investor Relations: Frank Hawkins of Hawk Associates, 305-852-2383, or Fhawk@hawkassociates.com, for Projectavision/ /Web site: hawkassociates.com