Chancellor Names Former GE/Gelco Division President to Run Truck Centers.Business Editors BOSTON--(BUSINESS WIRE)--Aug. 23, 2000 Chancellor Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CHLR) announced today that it has named William Dees the Senior Vice President of Retail Operations for Chancellor's Truck Centers. At Chancellor, Mr. Dees will use his thirty years of experience in the transportation industry to strengthen and revamp re·vamp tr.v. re·vamped, re·vamp·ing, re·vamps 1. To patch up or restore; renovate. 2. To revise or reconstruct (a manuscript, for example). 3. To vamp (a shoe) anew. n. retail operations for the Company's national network of truck centers. "I am very excited to take on the challenge of operating the retail locations and the platform they represent," Dees said. "Chancellor's network of truck centers, along with its 'Wholesale-Plus'(TM) pricing, has placed the Company in a unique position to dramatically effect the leasing industry." Leading to his employment with Chancellor, Mr. Dees served as President of several very well known trucking companies, including President of GE/Gelco's Truck Rental and Leasing Division, President of Idealease, Inc., and President/CEO of Central International. Central International is a manufacturer of medium and heavy trucks, engines, and specialty buses. Mr. Dees has also served as Senior Vice President and General Manager of the Western Area for Ryder System and Vice President of Navistar International Navistar International Corporation (Pink Sheets: NAVZ) (formerly International Harvester Company) is a manufacturer of International brand commercial trucks, MaxxForce brand diesel engines, IC Corporation brand school buses, Workhorse brand chassis for motor homes and step vans, . In addition to this extensive senior management background, Mr. Dees is also recognized as an expert witness in legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. concerning appraisals and statements of worth. Chancellor Corporation's President and COO, Franklyn E. Churchill, commented, "We are extremely excited and pleased to add someone of Bill's caliber to our management team. The Company is very optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that Bill's experience at GE/Gelco and Ryder System will be both beneficial and applicable to Chancellor's current retail platform. We feel Bill is extraordinarily qualified to step in and lead our efforts to further enhance our retail operations." David Herring, General Manager of Chancellor's Truck Centers, stated, "As our business has grown and continues to expand, we need an individual of Bill's capacity to head up this very important segment of our company. His management and organizational skills will help us greatly as we address our future expansion plans." Chancellor Corporation is a transportation trading company, complete with equipment finance and fleet management solutions for its customers. The Company is spearheading an evolution through the introduction of its innovative "Wholesale-Plus"(TM) pricing, unique trade-in programs, the roll out of value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. , and its Truck "Trading Cycle" Concept. Since its founding in 1977, Chancellor has completed a total of approximately $1.5 billion in equipment lease transactions for its Fortune 500 and middle market customers in the U.S. and select international markets. The Company's Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. is http://www.chancellorcorp.com. The Company is publicly traded under the symbol "CHLR." "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. with respect to events, the occurrence of which involves risks and uncertainties, including, without limitation, demand and competition for the Company's lease financing and asset management services and the products to be leased or remarketed by the Company, the continued availability to the Company of adequate financing, the ability of the Company to recover its investment in equipment through remarketing, and other risks and uncertainties detailed in the Company's Securities and Exchange Commission filings. |
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