HAIFA, Israel, March 3 /PRNewswire/ -- Elscint Ltd. (NYSE: ELT)
("Elscint"), a subsidiary of Elbit Medical Imaging Ltd. (Nasdaq: EMITF),
announced that the independent committee of outside directors that the Elscint
Board of Directors had formed to evaluate the proposal made by Elbit Medical
Imaging Ltd. ("EMI") has issued a letter dated March 2, 1999 to EMI expressing
a willingness to begin negotiations regarding the proposal. On February 18,
1999 Elscint received a letter from EMI which proposed that EMI would acquire
all of the outstanding shares of Elscint held by the public for cash
consideration.
CIBC Oppenheimer Corp. has been engaged as the financial advisor on this
matter and has assisted the independent committee in its evaluation.
Internet home page: http://www.elscint.co.il
This release contains certain forward-looking statements which involve
known and unknown risks, uncertainties or other factors not under the
Company's control which may cause actual results, performance or achievements
of the Company to be materially different from the results, performance or
other expectations implied by these forward-looking statements. These factors
include, but are not limited to, those detailed in the Company's periodic
filings with the Securities and Exchange Commission.
SOURCE Elscint Ltd.
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Related links:
http://www.elscint.co.il
CONTACT:
Emmanuel Gill, President & CEO of Elscint
Ltd., 972-4-855-0219; or General Info., Laurie Berman,
310-442-0599, or Media Info., Alicia Nieva-Woodgate,
415-986-1591, or Investor Info., Brian Gill, 212-661-8030, all of
The Financial Relations Board
NOTE TO EDITORS: For further information on Elscint, via
facsimile at no cost, please call 800-PRO-INFO and enter company
code 206 or ticker symbol ELT.
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