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INTRENET SUBMITS ACQUISITION OFFER FOR PST VANS, INC.; INTRENET OFFER IS SUBJECT TO APPROVAL BY UTAH BANKRUPTCY COURT

 MILFORD, Ohio, Jan. 7 /PRNewswire/ -- Intrenet, Inc. (NASDAQ: INET) announced today that it has offered to acquire PST Vans, Inc., a full truckload carrier currently in a Chapter 11 bankruptcy proceeding. PST, headquartered in Salt Lake City, currently operates nearly 1,000 tractors serving primarily the Western, Central and Southeastern regions of the U.S.
 The offer was made as part of a proposed plan of reorganization filed on Jan. 4, 1994, by Intrenet in the PST Chapter 11 proceeding. The Intrenet offer is subject to approval by the U.S. Bankruptcy Court and receipt of required regulatory approvals. PST has filed its own plan of reorganization which is the subject of a confirmation hearing that has been continued until Jan. 21, 1994. If the PST plan is confirmed, the Intrenet plan could not be approved. There can therefore be no assurance that the Intrenet plan will be approved.
 Under the Intrenet plan, Intrenet would acquire the stock of the reorganized PST, provide managerial assistance, fund cash payments to certain creditors and provide working capital to PST. Intrenet's short- term funding obligations under its plan would be $4.5 million, which it would finance with a bridge loan from one or more of its shareholders. Intrenet expects that the bridge loan would be repaid with the proceeds of a rights offering to be conducted later this year.
 Intrenet, Inc., trades under the symbol INET and is a listed issue on the NASDAQ Small Cap Market. The company is a holding company for five wholly owned truckload carrier subsidiaries: Roadrunner Trucking, Inc., Roadrunner Distribution Services, Inc., Eck Miller Transportation Corporation, Advanced Distribution System, Inc., and C.I. Whitten Transfer Company, Inc.
 -0- 1/7/94
 /CONTACT: Jonathan G. Usher, CFO of Intrenet, 513-576-6666; or Anthony J. DiMalo, investors, Anthem Communications, 212-943-8998/
 (INET)


CO: Intrenet, Inc.; PST Vans, Inc. ST: Ohio IN: SU: TNM

TW-WB -- NY043 -- 0262 01/07/94 16:30 EST
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Publication:PR Newswire
Date:Jan 7, 1994
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