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ASHLAND'S SUPERAMERICA SUBSIDIARY CLOSES SALE OF 51 FLORIDA STORES TO SHELL OIL

 ASHLAND, Ky., April 6 /PRNewswire/ -- SuperAmerica Group, Inc., a wholly owned subsidiary of Ashland Oil, Inc. (NYSE: ASH), today reported that it has closed on an agreement to sell its 51 merchandise/gasoline stores in Florida to Shell Oil Company.
 Terms of the transaction were not disclosed. Possession of the stores will be turned over to Shell throughout the month of April.
 The sale is part of a previously announced program by Ashland to divest properties and assets valued at approximately $200 million. Funds from these transactions will be used to reduce debt.
 The Ashland subsidiary currently operates 591 SuperAmerica stores in 12 states primarily in the Upper Midwest and Ohio River Valley. SuperAmerica also operates 100 other retail gasoline outlets.
 Ashland Oil is a diversified energy company engaged in petroleum refining, transportation and marketing; retail gasoline marketing; motor oil marketing; chemicals; coal; highway construction and oil and gas exploration and production.
 -0- 4/6/93
 /CONTACT: Roger Schrum of Ashland Oil, Inc., Ashland, 606-329-4061/
 (ASH)


CO: Ashland Oil, Inc.; SuperAmerica Group, Inc.; Shell Oil ST: Kentucky, Florida IN: OIL SU:

KC -- PG006 -- 3525 04/06/93 15:40 EDT
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Publication:PR Newswire
Date:Apr 6, 1993
Words:190
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