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REGIONAL ACCEPTANCE ANNOUNCES OFFERING OF 2.0 MILLION SHARES OF COMMON STOCK

 GREENVILLE, N.C., June 9 /PRNewswire/ -- Regional Acceptance Corporation (NASDAQ-NMS: REGA) today announced that a registration statement in connection with an initial public offering of 2.0 shares of common stock at $10 a share has been declared effective by the Securities and Exchange Commission. Interstate/Johnson Lane Corporation and Morgan Keegan & Company are serving as managing underwriters of the offering. Regional Acceptance has granted an over-allotment option to the underwriters to purchase up to 300,000 additional shares of common stock.
 Regional Acceptance is engaged primarily in financing consumer purchases of late model used automobiles and other used motor vehicles. The Company also makes other loans to consumers who typically have limited access to other sources of consumer credit.
 Copies of the prospectus relating to the offering are available from Interstate/Johnson Lane Corporation, 945 East Paces Ferry Road, Atlanta, Georgia 30326 and from Morgan Keegan & Company, 50 Front Street, Memphis, TN 38103.
 This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 6/9/93
 /CONTACT: Robert D. Barry, Chief Financial Officer, Regional Acceptance Corporation, 919-756-2148/
 (REGA)


CO: Regional Acceptance Corporation ST: North Carolina IN: AUT SU: OFR

CM -- CH002 -- 0045 06/09/93 09:33 EST
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Publication:PR Newswire
Date:Jun 9, 1993
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