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GENTRA INC ANNOUNCES SALE OF ADDITIONAL TRANCHE OF UK MORTGAGE PORTFOLIO

 TORONTO, Aug. 20 /PRNewswire/ -- Gentra Inc. (formerly Royal Trustco Limited) today announced that its United Kingdom subsidiaries in Jersey and the Isle of Man, have sold their residential mortgage portfolios to the Jersey subsidiary of the U.K. based Kleinwort Benson Group.
 The sale price was 50 million pounds sterling (C$ 105 million approximately) which is close to the portfolio's book value.
 "This transaction and the earlier U.K. asset sale by Royal Trust Bank in London to Birmingham Midshires, means we have the cash necessary to complete the Royal Bank deal," Gentra President and CEO James W. Miller said.
 Gentra's plan of arrangement effects the sale of substantially all of its domestic and international operating subsidiaries to Royal Bank of Canada.
 The Kleinwort Benson Group is one of Europe's independent merchant banks based in London.
 -0- 8/20/93
 /CONTACT: Sheila Robb of Gentra Inc Public Affairs, 416-981-6655/


CO: Gentra Inc. ST: Ontario IN: FIN SU:

MP -- NY028 -- 8689 08/20/93 12:41 EDT
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Publication:PR Newswire
Date:Aug 20, 1993
Words:166
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