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BEI HOLDINGS ANNOUNCES AGREEMENT TO SELL BEI GOLEMBE TO EDS

 ATLANTA, May 10 /PRNewswire/ -- BEI Holdings, Ltd. (NASDAQ: BEIH) announced today that it has reached an agreement to sell its wholly owned financial consulting division, BEI Golembe, to Electronic Data Systems Corporation of Dallas.
 BEI Golembe is headquartered in Atlanta and has operations in the United States and Europe.
 The agreement provides for a cash purchase price of approximately $22 million. The transaction is expected to be closed within three to five weeks.
 EDS is a global information technology company that employs 70,000 people in 30 countries. Stock reflecting EDS' performance is traded on the New York Stock Exchange under the symbol GME. EDS reported revenues of $8.2 billion in 1992.
 Gerald E. Eickhoff, president of BEI Holdings, said: "We believe that this is an excellent move for both parties. The combination of BEI Golembe's consulting with EDS' broad technological support and considerable resources will be an unbeatable combination.
 "BEI Holdings will continue to focus its efforts on increasing shareholder value," Eickhoff said, adding that "the proceeds from the sale of our financial consulting subsidiary will be utilized to further our position as a leader in the real estate asset management and outplacement/change management businesses."
 BEI Holdings, Ltd. is a diversified consulting firm headquartered in Atlanta.
 -0- 5/10/93
 /CONTACT: Charles C. Ray Jr., chief financial officer of BEI Holdings, 404-315-6060/
 (BEIH GME)


CO: BEI Holdings, Ltd.; BEI Golembe; Electronic Data Systems
 Corporation ST: Georgia, Texas IN: FIN SU: TNM


BR-BN -- AT009 -- 6566 05/10/93 14:41 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 10, 1993
Words:253
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