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CHALLENGER INTERNATIONAL ANNOUNCES PRIVATE PLACEMENT OF SHARES

 HAMILTON, Bermuda, Feb. 26 /PRNewswire/ -- Challenger International, Ltd., today announced the private placement of 600,000 Special Restricted Voting Shares at a price of U.S.$2.17 to two members of its board of directors. The funds, totaling $1,300,016, will be added to working capital of the company. The private placement brings the total number of shares in issue to 9,713,746.
 Challenger's Special Restricted Voting Shares are traded on NASDAQ (CSTIF) and the Toronto Stock Exchange (CTT).
 -0- 2/26/93
 /CONTACT: Rhianon Pedro of Challenger International, Ltd., 809-295-8639/
 (CSTIF)


CO: Challenger International, Ltd. ST: IN: SU:

SH-OS -- NY005 -- 0733 02/26/93 09:02 EST
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Publication:PR Newswire
Date:Feb 26, 1993
Words:111
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