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BEI AND AMRESCO COMPLETE MERGER

 DALLAS, Dec. 31 /PRNewswire/ -- BEI Holdings, Ltd. (NASDAQ: BEIH) and AMRESCO Holdings, Inc. announced today that the merger of the two companies has been completed.
 The new company formed by the merger is one of the largest asset management/acquisition firms in the nation. As of Sept. 30, the two companies had combined assets of $153 million, cash and receivables of $70 million and a net worth of $87 million.
 As previously announced, Richard L. Cravey serves as chairman and chief executive officer, Robert L. Adair is president and chief operating officer, and Calvin C. Hunkele is chief financial officer.
 "This combination is an excellent fit," Cravey said. "Our two companies are highly compatible. We have complementary strengths, with a wealth of experience and talent available. We're very excited about the future."
 The company is headquartered in Dallas and will employ approximately 1,400 people managing approximately $8 billion in assets. The NASDAQ symbol is BEIH.
 -0- 12/31/93
 /CONTACT: Patricia Dillingham of AMRESCO, 214-953-7709/
 (BEIH)


CO: BEI Holdings, Ltd.; AMRESCO Holdings, Inc. ST: Texas, Georgia IN: SU: TNM

BR-TG -- AT001 -- 8254 12/31/93 07:47 EST
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Publication:PR Newswire
Date:Dec 31, 1993
Words:189
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