VERTEX &lt;VETX> TO BUY COMPUTER TRANSCEIVER STAKE

  Vertex Industries Inc and
  &lt;Computer Transceiver Systems Inc> jointly announced an
  agreement for Vertex to acquire a 60 pct interest in Computer
  after it completes a proposed reorganization.
      Computer has been in reorganization proceedings under
  chapter 11 since September 1986.
      The companies said the agreement would allow Computer's
  unsecured creditors and debenture holders to receive new stock
  in exchange for exsiting debt, and for shareholders to receive
  one new share of Computer's stock for each four shares
  previously held.
     
      The companies said the United States Bankruptcy court for
  the Southern District of New York has given preliminary
  approval for the proposal, which is subject to formal approval
  by Computer's creditors and the court.
      Under the agreement, Vertex also said it would supply
  Computer with 250,000 dlrs of operating funds, and arrange
  renegotiation of its secured bank debt, among other things.
  

