quadrax
                            Advanced Materials Systems


    FOR IMMEDIATE RELEASE: July 18, 1996

    CONTACT: 	Edward A. Stoltenberg, C.F.O., Quadrax Corporation, 
		           	tel. (401) 683-6600
		  	
		           	Hal Levine/Marty Cohen, The Levine Group, 
	           		tel. (212) 682-8875

           QUADRAX CORPORATION GETS INITIAL ORDER FROM CANNONDALE


           PORTSMOUTH, RI--Quadrax Corporation (Nasdaq-Small Cap 
       Issues:QDRX) announced today that it received an initial 
       order from Cannondale Corporation (Nasdaq: BIKE), the 
       manufacturer of high performance bicycles.

           Quadrax will provide Cannondale with lightweight, 
      thermoplastic composite handlebars to be marketed under 
      their high-end "CODA" component division for after-market 
      sales and also for use on one line of Cannondale's high-end 
      mountain bikes.  The Quadrax composite handlebar is lighter 
      and stronger than traditional handlebars currently available 
      in the market.

          Commenting on the order, Chairman of the Board, James J. 
      Palermo, said, "We are encouraged by Cannondale's decision 
      to use our handlebar.  This supports our belief that Quadrax 
      thermoplastic composites will become a key component in high 
      performance sports equipment."

           Scott Montgomery, Cannondale's Vice President of Marketing, 
      added, "We have been working with Quadrax and are very happy 
      to see orders begin to flow.  We think this will lead to a 
      bright future together."

           Quadrax Corporation produces thermoplastic composite 
      materials using its proprietary fabrication and 
      manufacturing processes for a wide range of high-performance 
      commercial and consumer products.



          Note: Quadrax's latest news releases are available at no 
      charge by dialing 1-800-758-5804, ext. 728452, or at 
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        Quadrax Corporation
        300 High Point Avenue, Portsmouth,  RI  02871
        Tel: (401)683-6600  Fax: (401)683-6606