OSR &lt;OSRC> TO MAKE ACQUISITION

  OSR Corp said it has agreed
  to acquire the properties and assets of Telcom International
  Group for 10.5 mln common shares, which would give former
  Telcom owners an 84 pct interest in the combined company.
      Telcom is an international film and television distributor.
   The assets being acquired consist mostly of distribution
  rights to films valued at over one mln dlrs, the company said.
      OSR said as part of the acquisition agreement is is
  required to sell its 80 pct interest in Standard Knickerbocker
  Ltd, which makes jeans in Canada.
      OSR said it expects to net about 150,000 dlrs on the sale
  of Standard Knickerbocker.
      The company said both transactions are subject to approval
  by shareholders at a meeting to be held in April or May, it
  said.
  

