MATTHEWS, N.C., Jan. 9 /PRNewswire/ -- PCA International, Inc.
(Nasdaq: PCAI) and American Studios, Inc. (Nasdaq: AMST) announced today that
the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976 applicable to the cash tender to purchase all of the outstanding shares
of common stock of American Studios expired at 11:59 p.m. on January 4, 1997.
The offer was commenced on December 20, 1996 by ASI Acquisition Corp., a
wholly owned subsidiary of PCA.
Under the Hart-Scott-Rodino Act certain purchases of stock may not be
consummated unless certain information has been furnished to the Antitrust
Division of the Department of Justice and the Federal Trade Commission and
certain waiting periods have expired.
The offer and withdrawal rights are currently scheduled to expire at 12:00
midnight, New York City time, on Wednesday, January 22, 1997. MacKenzie
Partners, Inc. is acting as the Information Agent for the offer.
SOURCE PCA International, Inc.
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CONTACT:
Bruce A. Fisher, Senior Vice President, Chief
Financial Officer, PCA International, Inc., 704-847-8011, Ext.
2404, or Shawn W. Poole, Executive Vice President, Chief
Financial Officer, American Studios, Inc., 704-588-4351, Ext.
5310
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