SOLAR SYSTEMS &lt;SSDN>, INKEY OF SPAIN SET PACT

  Solar Systems by Sundance Inc said it
  agreed to buy a 45 pct interest in a company that will sell
  condoms produced by INKEY SA of Spain.
      It said a spermicide used in INKEY's condoms contains an
  ingredient that may help prevent the sexual transmission of
  AIDS. The ingredient was cited in an article in the West German
  publication, Aids Forschung. But it said the article was
  about the ingredient and did not mention the spermicide or the
  condoms made by INKEY.
      The company also said it is changing its name to
  Eurocapital Corp shortly.
      Solar Systems said it was buying the 45 pct stake in a
  U.S.-based &lt;Europharmaceutical Co>. INKEY and an affiliate own
  the remaining shares of the company, which was set up to
  distribute condoms and vaginal products that are made, or are
  being developed by INKEY.
      The agreement calls for a two mln dlr payment to Inkey for
  the distributorship. The first 500,000 dlr payment is due 30
  days after the products are approved by the Food and Drug
  Administration. It said Europharmaceutical plans to soon file
  with the FDA to market the condom, but expects the approval
  process to be a lengthy one.
      The company said the active ingredient in the spermicide is
  currently used in the U.S. in antiseptic applications unrelated
  to condoms. As far as it knows, the ingredient has not been
  tested in a spermicide.
      Inkey's condoms will be sold in the U.S. under the brand
  name, "Carlton." The exclusive distribution contract for the
  products runs for three years and is renewable for one-year
  periods, the company said.
      It said the condoms are currently sold in Spain but have
  not gone on sale in other European countries.
      It said Europharmaceutical currently does not have the
  resources to make the payments under the distribution agreement
  or fund the studies necessary to obtain marketing approval from
  the FDA.
      The company also said Europharmaceutical is in talks to
  acquire either one or more publicly held companies with little
  or no assets. In the event an acquisition goes through, Solar
  Systems' interest in Europharmaceutical would be diluted below
  its current 45 pct.
  

