MATTHEWS, N.C., Feb. 28 /PRNewswire/ -- PCA International, Inc.
(Nasdaq: PCAI) announced the completion of the acquisition of American
Studios, Inc. through the merger of American Studios, Inc. into ASI
Acquisition Corp., a wholly owned subsidiary of PCA International, Inc.
Effective Friday, February 28, 1997, at 12:01 a.m. EST, any American
Studios, Inc. shares not previously tendered were converted into the right to
receive $2.50 per share in cash.
    The acquisition creates one of the largest retail studio distribution
networks for value-priced quality professional portraits.  The combined
companies operate more than 2,000 permanent studios throughout the United
States, Canada, Puerto Rico, Mexico, and Argentina.

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