CIS TECHNOLOGIES&lt;CIH> TO SELL SHARES TO SWISS CO

  CIS Technologies Inc said it
  executed a formal share purchase agreement with Swiss
  Reinsurance Co of Zurich, Switzerland.
      Under terms of the agreement, Swiss Re will acquire 5.5 mln
  newly issued CIS stock at 2.50 dlrs a share, or 13.8 mln dlrs.
  This purchase represents 30 pct of the outstanding shares.
      Swiss Re will acuqire 500,000 of the shares immediately and
  remaining shares will be bought after a due diligence report is
  completed by auditors.
      The transaction is expected to be complete by June 11.
  

