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ALCO STANDARD ACQUIRES MODERN OFFICE MACHINES

 ALCO STANDARD ACQUIRES MODERN OFFICE MACHINES
 VALLEY FORGE, Pa., May 28 /PRNewswire/ -- Alco Standard Corporation


(NYSE: ASN) today acquired all of the outstanding common stock of Modern Office Machines (MOM) headquartered in Greenville, S.C., for an undisclosed amount of Alco common stock, it was announced today.
 MOM's business includes the sale and service of Canon and Sharp copiers and facsimile equipment. In addition to Greenville, the company has branches in Charleston, Columbia, Florence and Myrtle Beach, S.C.; Augusta, Ga.; and Asheville and Charlotte, N.C. MOM will remain at its present locations under the leadership of its president, Tecumseh (Tee) Hooper Jr.
 Revenues for 1992 are projected to exceed $30 million. Ray B. Mundt, chairman and chief executive officer of Alco Standard Corporation, stated, "Our aggressive dealer network expansion continues with the acquisition of MOM and its dedicated employees. MOM will join 46 other companies in Alco Office Products, the largest network of independent copier and office equipment dealers in North America and the only independent distribution network with national scope."
 Alco Office Products, headquartered in Valley Forge, ended fiscal 1991 with revenues exceeding $1 billion and operating income of $80 million, representing a 35 percent increase in earnings over fiscal 1990. For the first six months of fiscal 1992, operating income jumped 28 percent over the first six months of fiscal 1991.
 Alco Standard Corporation, also headquartered in Valley Forge, is a publicly owned distribution and services company. For its fiscal year ended Sept. 30, 1991, revenues were $4.8 billion.
 /delval/
 -0- 5/28/92
 /CONTACT: David B. Kirkland of Alco Standard, 215-296-8000, or at home, 215-542-9025/
 (ASN) CO: Alco Standard Corporation; Modern Office Machines ST: Pennsylvania, South Carolina IN: SU: TNM


JS-CC -- PH033 -- 4794 05/28/92 13:35 EDT
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Publication:PR Newswire
Date:May 28, 1992
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