ARTISTIC GREETINGS INC
DEFA14A, 1998-05-12
GREETING CARDS
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                            SCHEDULE 14A INFORMATION
 
                  Proxy Statement Pursuant to Section 14(a) of
            the Securities Exchange Act of 1934 (Amendment No.    )
 
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                         ARTISTIC GREETING INCORPORATED
               SUPPLEMENT TO PROXY STATEMENT DATED APRIL 24, 1998
          -----------------------------------------------------------
 
    The Company is distributing this supplement to its stockholders to update
stockholders concerning certain changes to the proposed capital structure of
Artistic Direct Incorporated. Mr. Ray Mahar will not invest $500,000 in common
equity of ADI; instead, (i) Mr. Wyckoff will borrow an additional $250,000 from
Chemung Canal Trust Company, on the same terms as previously disclosed
(including the total loan amount of $750,000 being guaranteed by Mr. Komer, such
guarantee to be secured by a pledge of 20% of the common stock of ADI owned by
Mr. Wyckoff (the same amount previously pledged)) and (ii) $250,000 of the Asset
Purchase Agreement purchase price will be satisfied by an increase from $250,000
to $500,000 of the promissory note referred to in Section 1.2 of the Asset
Purchase Agreement. In connection with the foregoing, AGI and ADI have entered
into an amendment to the Asset Purchase Agreement providing for the increased
promissory note amount. The Parent has approved this amendment pursuant to
Section 4.10 of the Merger Agreement.
 
    The party which contacted the Special Committee on April 9 regarding a
possible proposal to acquire the P&C Business has subsequently informed the
Special Committee that it will not make a proposal.
 
Sincerely,
 
Thomas C. Wyckoff
Assistant Secretary
 
Elmira, New York
May 12, 1998


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