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BANNER AEROSPACE CONTRACTS TO ACQUIRE PAN AM PARTS INVENTORY

 BANNER AEROSPACE CONTRACTS TO ACQUIRE PAN AM PARTS INVENTORY
 CLEVELAND, Aug. 21 /PRNewswire/ -- Banner Aerospace, Inc. (NYSE: BAR) reported that it has executed a definitive contract, pursuant to a previously announced letter of intent, to purchase certain air-craft parts inventories of Pan American World Airways Inc. for $45 million.
 The inventory includes a wide range of aircraft parts including jet engine components, landing gear, avionics, instruments, hydraulics, other airframe components and expendable items principally for Boeing 747, Boeing 727 and Airbus A300 aircraft. Banner said that several of its operating units including Solair Inc., Fort Lauderdale, Fla., and Dallas Aerospace, Inc., Carrollton, Texas, will assist in the world-wide marketing of the rotables and expendables.
 The contract is subject to certain governmental approvals, including that of the U.S. Bankruptcy Court in New York.
 Cleveland-based Banner Aerospace is a leading international supplier to the aerospace/aviation industry. Products include jet engines and engine components, avionic, hydraulic and electrical systems, fasteners, bearings and other airframe components. The company also processes insulated electrical wire for the aerospace/aviation market, sells refurbished corporate air-craft including helicopters and jet and turboprop airplanes and repairs corporate aircraft engines.
 -0- 8/21/92
 /CONTACT: Warren D. Persavich of Banner Aerospace, Inc., 216-464-3650/
 (BAR) CO: Banner Aerospace, Inc. ST: Ohio IN: ARO AIR SU: TNM


BM -- CL014 -- 2319 08/21/92 17:37 EDT
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Publication:PR Newswire
Date:Aug 21, 1992
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