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                                                                  EXHIBIT 5


                         [LOGO OF PROXIMA CORPORATION]


                                    PROXIMA


                                                        Contact: Dennis Whittler
                                                         Vice President, Finance
                                                         Chief Financial Officer
                                                                  (619) 638-2786

FOR IMMEDIATE RELEASE

            PROXIMA CORPORATION SIGNS MERGER AGREEMENT WITH ASK asa

        San Diego, California, March 8, 1998 -- Proxima Corporation
(NASDAQ:PRXM) announced today that it has entered into a definitive merger
agreement with ASK asa, pursuant to which ASK will acquire all of the shares of
Proxima for $11 per share, or approximately $84 million in cash. ASK will
commence a tender offer within five business days. Completion of the tender
offer is subject to a majority of the shares on a fully-diluted basis being
tendered and other customary conditions. The tender offer will be followed as
promptly as possible by a merger in which any untendered shares of Proxima
stock will be converted into the right to receive $11 per share in cash.

        Based in Fredrikstad, Norway, ASK is a leading manufacturer of
multimedia projection equipment. ASK is publicly traded and listed on the Oslo
Stock Exchange. Under the terms of the agreement, Proxima will become a
wholly-owned subsidiary of ASK.

        Commenting on the merger agreement, Kenneth E. Olson, chairman,
president and CEO of Proxima, and Ole J. Fredriksen, president of ASK, stated
that "this merger will create a strong competitor in the worldwide market for
data-capable multimedia projectors. Proxima's powerful brand name and strong
market position in the Americas are complementary to ASK's leadership position
in Europe. This merger offers strategic opportunities for both technologies and
marketing. We believe that this is a very synergistic combination of strengths
which will give us the capability to challenge for the leadership position in
our market."

        Mr. Olson will become an advisory member of ASK's board of directors
and will continue as the chairman, CEO and president of Proxima. Mr. Fredriksen
will join the Proxima board.

        For the twelve months ended December 31, 1997, Proxima reported
revenues of $133.3 million, while ASK reported revenues of $82.0 million.     
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PROXIMA CORPORATION SIGNS MERGER AGREEMENT
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        Proxima was advised by Broadview Associates LLC. ASK was advised by BT
Alex. Brown Inc., which will serve as dealer manager for the tender offer.

        The statements contained in this release regarding the expected
completion of the merger, the synergistic integration of the combined
companies, and the leadership position and market strength of the combined
companies constitute "forward-looking" statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements. Potential risks
and uncertainties include, but are not limited to, such factors as the possible
objection of regulatory authorities, adverse economic and business conditions
in the electronics industry, reduced demand for the products of the combined
companies, the inability of the companies to consummate the merger for whatever
reason, difficulties in managing the integration for the two companies,
supplier and/or customer disruption caused by the merger, and other risks and
uncertainties described in reports and other documents filed by Proxima from
time to time with the SEC. Any of the companies' assumptions could prove
inaccurate, and therefore, there can be no representation that the
forward-looking information will prove to be accurate.

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                              PROXIMA CORPORATION
               9440 Carroll Park Drive, San Diego, CA 92121-2298
                        619-457-550    FAX 619-457-9647