Chancellor Signs Up Whirlpool.Business Editors BOSTON--(BUSINESS WIRE)--March 15, 2000 Chancellor Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CHLR) announces today that it has completed a lease origination for transportation equipment with Whirlpool Corporation Whirlpool Corporation (NYSE: WHR) is the world's leading manufacturer and marketer of major home appliances,with annual sales of approximately $18 billion, more than 73,000 employees, and more than 70 manufacturing and technology research centers around the world. (NYSE NYSE See: New York Stock Exchange :WHR WHR World Health Report WHR Waist-to-Hip Ratio WHR Welsh Highland Railway (UK) WHR Western Hemisphere Region WHR Watt Hour WHR Witch Hunter Robin (anime) WHR Waste Heat Recovery ). The transaction consists of approximately $1.5 million of equipment at original cost. The company is once again gaining credibility with its previous customer base - investment grade Fortune 500 customers such as Wal-Mart, Texaco, Chrysler, and Amoco. With its anticipated second consecutive profitable year to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. shortly, along with its projected tenth consecutive profitable quarter, the company is continuing to build on its new foundation. The deal with Whirlpool emphasizes that Chancellor is gaining acceptance within the financial community. After several years of struggle, Chancellor's resurgence back to profitability has many of its previous customers requesting quotes for equipment financings. This re-found faith in the company by many of its once former customers only supports the idea that Chancellor's turnaround is intact. In addition to Chancellor's recent success within the industry, Chancellor has formed new relationships with well-established companies such as Associates First Capital, Phoenix Corporation, GE Capital, Firstar, First Union, and Summit Bancorp Summit Bancorp was a Princeton, New Jersey based bank, but also had offices in Summit, New Jersey. The company slowly began expanding in the 1990s, acquiring many regional banks in central and southern New Jersey. . Companies that choose to partner with Chancellor are showing that they believe in the philosophy and management of the company. Chancellor Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Brian M. Adley commented on the financings, "Companies that choose to do business with Chancellor will be extremely pleased with the results. We are spearheading an evolution in the industry." Chancellor Corporation is spearheading an evolution in transportation equipment finance through innovative financing and fleet management programs. The Company seeks to reduce a customer's total holding cost through its "Wholesale-Plus" lease pricing strategy and through other value-added services, including asset management, equipment maintenance, fuel management and data management strategies. 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. Chancellor is a fleet management and transportation equipment leasing firm headquartered in Boston. The Company's Internet address 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 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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