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ACC CORP. SUBSIDIARY FILES FINAL PROSPECTUS FOR INITIAL PUBLIC OFFERING IN CANADA

 ROCHESTER, N.Y., June 18 /PRNewswire/ -- ACC Corp.'s (NASDAQ/NMS: ACCC) wholly owned Canadian subsidiary, ACC TelEnterprises Ltd., announced today that it has filed a final prospectus with the Ontario Securities Commission for an initial public offering of 2,000,000 Common Shares at a price of $11.00 (Canadian) per share. The final prospectus is also being filed with each of the other provincial securities regulators. Closing is anticipated to occur on or about July 6, 1993. In addition, ACC TelEnterprises Ltd. has granted to the underwriters for the offering an option to purchase up to 300,000 additional Common Shares to cover over-allotments, if any. After the offering of 2,000,000 shares to the public, ACC Corp. will maintain approximately 70 percent ownership in ACC TelEnterprises Ltd.
 ACC TelEnterprises Ltd., through its ACC Long Distance Ltd. and ACC Long Distance Inc. subsidiaries, provides long-distance voice and data services to businesses and residential customers in Ontario, Quebec and British Columbia.
 Underwriters for the offering are Nesbitt Thomson Inc., Burns Fry Limited, Wood Gundy Inc., Midland Walwyn Capital Inc. and First Marathon Securities Inc. No part of this offering will be offered or sold in the United States, except for sales in accordance with Rule 144A under the Securities Act of 1933 or in a transaction otherwise exempt under that Act.
 ACC Corp. is a diversified telecommunications company based in Rochester, N.Y. Through its subsidiaries, the company provides long- distance telephone service throughout the northeastern United States, and is the second largest long-distance reseller in Canada. In addition, the company holds the first international simple resale license granted in the United Kingdom.
 -0- 6/18/93
 /CONTACT: Richard T. Aab of ACC Corp., 716-987-3150/
 (ACCC)


CO: ACC Corp. ST: New York IN: TLS SU: OFR

AR -- CL008 -- 3455 06/18/93 09:21 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
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