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COMPUTER PETROLEUM TO EXPLORE STRATEGIC ALTERNATIVES

ST. PAUL, Minn., March 7 /PRNewswire/ -- Computer Petroleum Corporation (Nasdaq: CPCO) announced today that its board of directors has decided to explore strategic alternatives available to the company with the objective of enhancing shareholder value. The company has retained an investment banker to assist the board in this process.

"Several organizations have expressed an interest in CPC over the past 18 months," said William Leonard, president and chief executive officer. "After investing significant resources in new products and the recent acquisition of Payne & Associates, a trucking industry software business, we believe we are well positioned for a step-up in performance during the current fiscal year. However, we feel it is in the best interest of our shareholders to examine strategic alternatives to enhance shareholder value.

"There is of course no assurance that any restructuring or transaction will result from this process."

Computer Petroleum Corporation, based in St. Paul, Minn., is the nation's leading provider of energy price information.
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/CONTACT: Tom Langenfeld or John Swenson of Swenson/Falker Associates, Minneapolis, 612-371-0000 or Bill Leonard of Computer Petroleum Corp., 612-225-9550/

(CPCO)

CO: Computer Petroleum Corporation ST: Minnesota IN: CPR OIL SU:

KW-KG -- MNTH023 -- 1355 03/07/96 17:36 EST
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Publication:PR Newswire
Date:Mar 7, 1996
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