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CAMELOT ACQUIRES 5 PERCENT OF TYREX

 DALLAS, June 2 /PRNewswire/ -- Camelot Corporation (NASDAQ: CAML) today announced that it has acquired through market purchases 5 percent of Tyrex Oil Company (NASDAQ: TYRX). Camelot intends to seek to change a majority of the present directors of Tyrex. Accordingly, Camelot has commenced discussions with the directors of Tyrex with the objective of arriving at an agreement with respect to changes in the board of directors.
 "We feel that a strengthened management team with a fresh outlook can identify the opportunities available in the energy field and can best maximize the existing assets of Tyrex," said Danny Wettreich, chairman and chief executive officer of Camelot.
 Camelot may acquire additional shares in Tyrex in the future, although the extent and timing of any additional purchases will be subject to the price and availability of Tyrex shares, subsequent developments affecting Tyrex, and other factors Camelot deems relevant.
 Camelot is a holding company with a continuing policy of growth by acquisition, and has operating subsidiaries in financial services and energy.
 -0- 6/2/93
 /CONTACT: Danny Wettreich, chairman and CEO of Camelot, 214-733-3005/
 (CAML TYRX)


CO: Camelot Corporation; Tyrex Oil Company ST: Texas IN: SU: TNM

GK -- NY052 -- 4489 06/02/93 13:04 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
Words:202
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