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CENTEX TELEMANAGEMENT SIGNS CREDIT AGREEMENT WITH UNION BANK

 CENTEX TELEMANAGEMENT SIGNS CREDIT AGREEMENT WITH UNION BANK
 SAN FRANCISCO, July 6 /PRNewswire/ -- Centex Telemanagement Inc. (NASDAQ: CNTX) announced today that it has signed a $15 million revolving credit agreement with Union Bank (NASDAQ: UBNK). The one-year agreement provides Centex with the option of borrowing at the bank's variable reference interest rate for indeterminate periods or at a fixed rate 3/4 percent above the reference rate for certain fixed periods.
 Commenting on the agreement, John H. Barnet, the chief financial officer of Centex, stated, "We are pleased with the terms of the agreement, particularly the option to borrow at a rate based upon the bank's cost of funds. While we have not actively used the credit facility in the past, we are pleased to have the ability to borrow at very attractive rates." This is the sixth consecutive year Centex and Union have had a credit relationship. In each of the six years, Union has increased the credit available to the company. Barnet added, "The $15 million credit represents a $3 million increase over last year's line with Union Bank. The line will be used to augment working capital and help fund Centex's growth during the coming year."
 Centex Telemanagement Inc. is a pioneer and market leader in providing comprehensive telecommunications management services to small- and medium-sized businesses. Centex serves as a single point of contact for smaller businesses. In exchange for a management fee, Centex provides a broad range of sophisticated management services, such as multi-vendor coordination and management, equipment analysis, call routing optimization and accounting and voice messaging.
 Centex analyzes the telecommunications needs of its clients and manages the best mix of services from various third-party providers to be shared by its clients under Centex management. Centex clients receive these quality telecommunications services at a significant labor and cost savings. Centex currently serves over 10,000 clients through 19 branch offices in eight states.
 -0- 7/6/92
 /CONTACT: Peter A. Howley, or John H. Barnet of Centex Telemanagement, 415-882-2300/
 (CNTX UBNK) CO: Centex Telemanagement Inc.; Union Bank ST: California IN: TLS FIN SU: FNC


MC-RM -- SF003 -- 6501 07/06/92 08:00 EDT
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Publication:PR Newswire
Date:Jul 6, 1992
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