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CAMELOT DISTRIBUTES INVESTMENT TO ITS' STOCKHOLDERS

 DALLAS, May 24 /PRNewswire/ -- Camelot Corporation (NASDAQ: CAML), announces that it has today filed a Registration Statement with the Securities and Exchange Commission to distribute to Camelot stockholders its investment in Forme Capital, Inc. ("Forme") representing 80 percent of Forme's issued share of capital. The distribution will be on the basis of one Forme share for every 1,000 Camelot shares owned on the record date, May 24, 1993. Forme is a public company on the OTC Bulletin Board with a trading symbol FRMC, and owns residential investment properties.
 "The distribution of our investment in Forme will enable Camelot stockholders to have a direct interest in this company, and will remove approximately $640,000 of debt and approximately $75,000 of annual losses from Camelot's financial statement," said Danny Wettreich, chairman and chief executive officer. "When the registration is declared effective by the SEC and the distribution is made, Camelot will have a debt free financial statement with stockholders' equity of approximately $2,800,000 inclusive of approximately $1,600,000 cash, and we will be well placed to implement our policy of growth by acquisition," he said.
 Camelot is a holding company with a continuing policy of growth by acquisition, and has operating subsidiaries in financial services and energy.
 -0- 5/24/93
 /CONTACT: Danny Wettreich, chairman and chief executive officer, or Jeanette Fitzgerald, vice president and general counsel of Camelot Corporation, 214-733-3005/
 (CAML)


CO: Camelot Corporation ST: Texas IN: SU:

WB -- NY060 -- 1685 05/24/93 11:56 EDT
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Publication:PR Newswire
Date:May 24, 1993
Words:251
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