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UGI'S 1991 OFFER FOR PETROLANE IS 'NO LONGER IN EFFECT,' BUT DISCUSSIONS ARE CONTINUING TOWARD A FINAL BID

 UGI'S 1991 OFFER FOR PETROLANE IS 'NO LONGER IN EFFECT,'
 BUT DISCUSSIONS ARE CONTINUING TOWARD A FINAL BID
 VALLEY FORGE, Pa., March 27 /PRNewswire/ -- UGI Corp. (NYSE: UGI) reported today that its AmeriGas, Inc. subsidiary's November 1991 bid to restructure and acquire Petrolane Gas Service Limited Partnership is no longer in effect, but that AmeriGas remains interested in acquiring the national propane marketer.
 UGI said AmeriGas recently made a presentation to Petrolane's owners and creditors which included a proposed structure to acquire Petrolane. AmeriGas is continuing its discussions with the owners and creditors with a view toward submitting a final bid that is acceptable to all parties, UGI noted.
 AmeriGas does not intend to release details of any revised bid if details of other bids for Petrolane are not made publicly available, UGI said. The reason is to protect AmeriGas from suffering a competitive disadvantage in the bidding process.
 Petrolane is one of the nation's two largest propane marketers. It recorded revenues of $660 million in 1991 on sales of 770 million gallons.
 AmeriGas is the parent of AmeriGas Propane, the third largest marketer. AmeriGas Propane had revenues of $382 million in 1991 on sales of 414 million gallons.
 /delval/
 -0- 3/27/92
 /CONTACT: Vince Testa of UGI, 215-337-1000/
 (UGI) CO: UGI Corp.; AmeriGas, Inc.; Petrolane Gas Service Limited
 Partnership ST: Pennsylvania IN: UTI SU: TNM


CC-LJ -- PH009 -- 2330 03/27/92 11:41 EST
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Publication:PR Newswire
Date:Mar 27, 1992
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