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November 23, 1988

PRIME FILES COUNTRCLAIM AGAINST MAI BASIC FOUR

By CBR Staff Writer

And Prime has filed a counterclaim against MAI Basic Four Inc raising questions about its relationship with the junk bond kings, currently under something of a cloud, at Drexel, Burnham Lambert: it seeks to compel MAI to make full and fair disclosure on its $20 a share tender offer for Prime, alleging that the disclosure in the tender offer materials is deficient, and full disclosure concerning MAI’s relationship with Drexel Burnham Lambert Inc, the uncertain nature of the offerors’ financing, alleged violations of the federal securities laws by certain of the offerors’ principals in prior dealings involving other companies, and other material facts; Prime also says its board the tender offer under consideration and will make a recommendation to holders by November 29.

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