CYCLOPS &lt;CYL> WILL NOT GIVE DATA TO GROUP

  Cyclops Corp said its board rejected
  a request by Cyacq Corp, an investor group, for more non-public
  information about Cyclops, a maker of specialty steels and an
  electronics retailer.
      Cyclops cited its agreement to be acquired by Britain's
  Dixons Group PLC for 90.25 dlrs a share under a tender offer
  that expires midnight March 17.
      Cyacq, comprising Audio/Video Affiliates Inc, Citicorp
  Capital Investors Ltd and other investors, yesterday said it
  would increase its tender offer for Cyclops to 92.50 dlrs a
  share from 80 dlrs, subject to certain conditions.
      The conditions were that Cyclops provide Cyacq with
  non-public data given to Dixons and that Cyacq be satisfied
  with financial projections made by Dixons in its offer.
      Cyclops also said its board determined that Cyacq's
  announcement was not an offer. "Cyacq's press release does not
  amend Cyacq's outstanding tender offer which remains at 80 dlrs
  per share and it does not state that Cyacq has financing
  commitments necessary to carry out its original offer or any
  increased offer that it may make," Cyclops said in a statement.
      Its agreements with Dixons are binding and Dixons indicated
  it will not rescind or waive any provisions of the pacts,
  Cyclops said.
      The company also said it was advised that Dixons'
  shareholders approved the merger, satisfying that condition of
  the agreement.
  

