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CHARTWELL PUBLISHING COMPANY INC. ACQUIRES GYPSUM RIGHTS

 LOS ANGELES, Jan. 20 /PRNewswire/ -- Chartwell Publishing Company Inc. announced today that it has purchased the right to mine 3,000,000 tons of gypsum from Central Pacific Assurance for a total of $1,500,000.
 Terms of the transaction consisted of 150,000 shares of preferred series B $10.00 par value Chartwell Publishing Company Inc. stock convertible into Chartwell Publishing Company Inc. restricted common shares at $.50 per share.
 The gypsum acquired is in the Riverview Placer Claims, located in Washington County, Utah. This acquisition now gives Chartwell the right to mine a total of 5,000,000 tons of the Riverview Placer Claims.
 Chartwell Publishing Company Inc. trades on the over the counter market.
 -0- 1/20/93
 /CONTACT: Alice M. Gluckman, assistant corporate secretary of Chartwell Publishing Company, 310-205-3888/


CO: Chartwell Publishing Company Inc.; Central Pacific Assurance ST: California IN: MNG SU:

KJ-LS -- LA004 -- 6736 01/20/93 09:00 EST
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Publication:PR Newswire
Date:Jan 20, 1993
Words:155
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