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A.C. MONK ACQUIRES CENTRALEAF

 FARMVILLE, N.C., May 18 /PRNewswire/ -- A.C. Monk & Company, Inc. and The Casalee Group S.A., Luxembourg, have reached an agreement in principle for Monk to acquire 100 percent of Centraleaf (Malawi) Limited, effective April 1, 1993. Monk has had a 50 percent ownership interest in the operation since 1990.
 Under the terms of the agreement, Casalee may service its customers' current leaf requirements through Centraleaf. Centraleaf is a full- service leaf buying and processing operation, employing more than 220 full-time and 550 seasonal employees.
 The transaction is subject to the signing of a definitive acquisition agreement, necessary regulatory clearances and approvals by the respective boards of the parties.
 Monk-Austin, Inc. (NYSE: MK), 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.
 -0- 5/18/93
 /CONTACT: Kim Doran of James A. Fyock & Associates, 919-659-8440/
 (MK)


CO: A.C. Monk & Company, Inc.; The Casalee Group; Monk-Austin, Inc. ST: North Carolina IN: TOB SU: TNM

MM -- CH005 -- 9685 05/18/93 10:37 EDT
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Publication:PR Newswire
Date:May 18, 1993
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