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CENTEL TO SEEK PROPOSALS FOR PURCHASE OF ALL OR PARTS OF THE COMPANY

 CENTEL TO SEEK PROPOSALS FOR PURCHASE OF ALL OR PARTS OF THE COMPANY
 CHICAGO, Feb. 17 /PRNewswire/ -- Centel Corp. (NYSE: CNT) announced today that the company's board of directors has decided to solicit proposals for the purchase of all or parts of the company as a result of the indications of interest received since the company's Jan. 23 announcement that it is exploring strategic alternatives to maximize shareowner value.
 "We will not make any decision on whether to sell all or any part of the company until we review the proposals we receive, but based upon what our investment banking advisors have reported, we are encouraged to believe that there may be alternatives available which will be attractive for our shareowners, employees, customers and communities," said John P. Frazee Jr., Centel's chairman and chief executive officer.
 Prospective buyers have until April 16 to respond to the company's request for proposals, according to Frazee, adding that the company will consider proposals for the purchase of the company as a whole or for separate purchases of its component parts.
 "We have put the process to seek proposals into motion as quickly as possible in an effort to minimize disruption for the company and its employees," Frazee said.
 Chicago-based Centel, which had 1991 revenues of $1.18 billion, provides local exchange telephone service in seven states through nearly 1.6 million access lines, and manages cellular communications systems in 44 metropolitan areas and in more than 50 rural service areas.
 -0- 2/17/92
 /CONTACT: William K. White of Centel Corp., 312-399-2735/
 (CNT) CO: Centel Corp. ST: Illinois IN: TLS SU:


AH -- NY034 -- 9681 02/17/92 17:07 EST
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Publication:PR Newswire
Date:Feb 17, 1992
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