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INTERTAN INC. ISSUES UPDATE ON FINANCIAL STATUS

 BARRIE, Ontario, June 30 /PRNewswire/ -- InterTAN Inc. (NYSE: ITN) announced today that a meeting has been scheduled for July 7, 1993, with its existing bank syndicate for the purpose of discussing the status of its current bank agreement, the revolving portion of which matured on May 22, 1993, and under which InterTAN remains in default. The status of the banks' standstill agreement, which is scheduled to expire today, will also be discussed.
 In the interim, InterTAN is continuing its discussions with banks and other financial institutions concerning permanent and seasonal financing, as well as with Tandy Corporation concerning the status of InterTAN's distribution and licensing agreement with Tandy, under which InterTAN is also in default.
 The continuation or refinancing of InterTAN's existing bank financing and maintaining existing credit terms with Tandy are essential to ensuring the on-going operation of InterTAN's business.
 -0- 6/30/93
 /CONTACT: Keith H. Wettlaufer, senior vice-president of finance and administration of InterTAN Inc., 705-728-6262/
 (ITN)


CO: InterTAN Inc. ST: Ontario IN: REA SU:

TM-MG -- NY087 -- 7415 06/30/93 18:12 EDT
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Publication:PR Newswire
Date:Jun 30, 1993
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