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MONK-AUSTIN ACQUIRES TOBACCO DIVISION OF T.S. RAGSDALE COMPANY

 FARMVILLE, N.C., May 19 /PRNewswire/ -- Monk-Austin Inc. (NYSE: MK) announced today it has acquired substantially all of the assets and business of the tobacco division of T.S. Ragsdale Company, Inc., a privately owned U.S. leaf dealer located in Lake City, S.C.
 As a new subsidiary of Monk-Austin Inc., T.S. Ragsdale Company, Inc., will continued to operate in Lake City under the leadership of T. Smith Ragsdale III as president. Over the past three years, Ragsdale tobacco sales have been approximately $25-$30 million annually.
 According to Albert C. Monk III, president and chief executive officer, "The management of Monk-Austin is pleased to be associated with T. Smith Ragsdale III and look forward to the benefit of his expertise."
 The charcoal division of T.S. Ragsdale Co., Inc., will continue operation as Embers Charcoal Co., Inc., from its Conway headquarters with Charles S. Ragsdale as executive vice president.
 Monk-Austin, Inc., traded on the New York Stock Exchange under the symbol "MK," buys and processes leaf tobacco world-wide and sells processed tobacco to manufacturers of cigarettes and other consumer products. The company has operations in major tobacco-growing and processing centers around the world, including Brazil, Malawi, Mexico and Zimbabwe.
 -0- 5/19/93
 /CONTACT: Kim Doran of James A. Fyock & Associates, 919-659-8440/
 (MK)


CO: Monk-Austin Inc.; T.S. Ragsdale Company, Inc. ST: North Carolina, South Carolina IN: TOB SU: TNM

MM -- CH002 -- 0210 05/19/93 10:39 EDT
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Publication:PR Newswire
Date:May 19, 1993
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