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CHANCELLOR ANNOUNCES RENEWAL OF CREDIT FACILITY

 BOSTON, Nov. 9 /PRNewswire/ -- Chancellor Corporation (NASDAQ: CHCR) announced today that its senior lender group has agreed to extend and amend certain loan and forbearance agreements which were initially entered into among the company, its affiliates and the lenders in April 1990 and have been renewed many times since. The new agreement extends the loan facility through Jan. 14, 1994 on similar terms and conditions to those the company has enjoyed during recent renewal periods.
 Founded in 1977, Chancellor Corporation has, in recent years, concentrated on the leasing of transportation equipment. It is also involved in the leasing of aircraft, communications, materials handling and other equipment. Chancellor Corporation's common stock is listed on The NASDAQ Small-Cap Market (symbol "CHCR").
 -0- 11/9/93
 /CONTACT: Stephen G. Morison, president and chief executive officer, or William J. Guthlein, vice president, treasurer and chief financial officer, both of Chancellor, 617-728-8500/
 (CHCR)


CO: Chancellor Corporation ST: Massachusetts IN: TRN SU:

DJ-JL -- NE014 -- 2350 11/09/93 14:44 EST
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Publication:PR Newswire
Date:Nov 9, 1993
Words:165
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