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F&E RESOURCE SYSTEMS TECHNOLOGY, INC. COMMITS TO PURCHASE CHRYSLER CAPITAL CORPORATION'S INTEREST IN BALTIMORE COMPOSTING FACILITY

 BALTIMORE, Md., April 21 /PRNewswire/ -- F&E Resource Systems Technology, Inc., (FERST) (NASDAQ: FERS) today announced that an agreement has been reached to purchase the stock of Baltimore Compost I Corp. and Baltimore Compost II Corp., wholly-owned subsidiaries of Chrysler Capital Corporation, and holders of limited partner interests in FERST's Baltimore recycling and composting facility. Closing should be completed before Sept. 1, 1993. Chrysler's affiliates acquired the interest by making a $7.1 million investment in the Baltimore facility made during July 1991.
 Ronald W. Pickett, president and CEO of FERST, stated: "Chrysler's investment in the Baltimore facility demonstrates their faith in FERST and our environmentally sound approach to recycling and the composting of municipal solid waste."
 FERST is a Maryland-based owner and operator of recycling and composting facilities. The company is traded on NASDAQ under the symbol FERS.
 -0- 4/21/93
 /CONTACT: Ronald W. Pickett, president and CEO, or James S. Schaefer, chief financial officer, F&E Resource Systems Technology, 410-354-3000/
 (FERS)


CO: F&E Resource Systems Technology, Inc.; Chrysler Capital Corporation ST: Maryland IN: ENV SU: FNC

KD-DC -- DC038 -- 9027 04/21/93 17:40 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
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