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CHANCELLOR ANNOUNCES THIRD QUARTER RESULTS

 BOSTON, Nov. 16 /PRNewswire/ -- Chancellor Corporation (NASDAQ: CHCR) reported a net loss of $1,324,000 (or 30 cents per share) for the three months ended Sept. 30, 1993. This compares with a net loss of $595,000 (or 15 cents per share) for the same period last year. The company's revenues declined to $3.7 million for the three months ended Sept. 30, 1993 from $5.2 million for the corresponding period in 1992.
 CONSOLIDATED SUMMARY OF OPERATIONS
 (In thousands except per share amounts)
 Three Months Nine Months
 Ended Sept. 30 Ended Sept. 30
 1993 1992 1993 1992
 Revenues $3,692 $5,233 $11,522 $17,259
 Net (loss) ($1,324) ($595) ($2,906) ($1,073)
 Average Shares
 Outstanding 4,375 3,870 4,171 3,870
 Net (loss) per share ($.30) ($.15) ($.70) ($.28)
 Founded in 1977, Chancellor Corporation has, in recent years, concentrated on the leasing of transportation equipment. It is also involved in the leasing of aircraft, communications, materials handling and other equipment. Chancellor Corporation's common stock is listed on the NASDAQ Small-Cap Market (symbol "CHCR").
 -0- 11/16/93
 /CONTACT: Stephen G. Morison, president and chief executive officer; or William J. Guthlein, vice president, treasurer and chief financial officer, both of Chancellor, 617-728-8500/
 (CHCR)


CO: Chancellor Corporation ST: Massachusetts IN: TRN SU: ERN

CM-DJ -- NE025 -- 4252 11/16/93 17:19 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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