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CAMELOT SEEKS TO REPLACE MANAGEMENT OF TYREX

 DALLAS, June 15 /PRNewswire/ -- Camelot Corporation (NASDAQ: CAML), announces that it will proceed with a proxy solicitation to replace a majority of the present directors of Tyrex Oil Company (NASDAQ: TYRX) with Camelot nominees. In this regard, Camelot has engaged the services of Beacon Hill Partners, a New York based proxy solicitation firm, and has requested the directors of Tyrex to provide Camelot with a Tyrex shareholder list.
 Camelot announced on June 2, 1993, that it had acquired 5 percent of Tyrex through market purchases, and that it may acquire additional shares of Tyrex in the future. "The Tyrex directors, led by John Traut, the 65-year-old CEO, have been managing the company since its public offering 13 years ago, with the result that Tyrex has accumulated losses of approximately $2,377,000," said Danny Wettreich, chairman and chief executive officer of Camelot. "I feel that Tyrex shareholders deserve a better performance," he said.
 Camelot is a holding company with a continuing policy of growth by acquisition, and has operating subsidiaries in financial services and energy.
 -0- 6/15/93
 /CONTACT: Danny Wettreich, chairman and chief executive officer of Camelot Corporation, 214-733-3005/
 (CAML TYRX)


CO: Camelot Corporation; Tyrex Oil Company ST: Texas IN: OIL SU:

PS -- NY053 -- 2116 06/15/93 12:16 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
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