AMERICAN DYNAMICS &lt;AMDC> TO SELL 51 PCT STAKE

  American Dynamics Corp and
  &lt;Meridian Reserve Inc> said they signed a definitive agreement
  under which Meridian will buy 81.9 mln shares, or 51 pct, of
  American Dynamics' common stock.
      Under terms of the agreement, Santa Ana, Calif.-based
  Meridian said it will pay Columbus-based American Dynamics one
  mln dlrs in cash and notes over five years and about 500,000
  shares of its common stock.
      Meridian said it has the option to issue an additional
  1,500,000 shares of its common over the next two years in
  payment of certain of the notes.
      Meridian, an oil and gas company whose operations are
  primarily in Oklahoma, said the acquisition will increase its
  its consolidated assets to 30 mln dlrs and its contractually
  committed gas reserves to more than 40 mln dlrs at discounted
  present value.
      American Dynamics is engaged in gas gathering, transmission
  and liquids extraction, also in Oklahoma.
      The companies said they have five extracting plants and
  about 525 miles of transmission lines in five adjoining
  Oklahoma counties.
  

