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MAIL BOXES COAST TO COAST ANNOUNCES SALE OF LOS ANGELES FRANCHISE

 MAIL BOXES COAST TO COAST ANNOUNCES SALE OF LOS ANGELES FRANCHISE
 LOS ANGELES, April 2 /PRNewswire/ -- Mail Boxes Coast to Coast Inc. (NASDAQ: MBCC) announced today that it has agreed to sell its principal assets consisting of the exclusive Los Angeles area franchise for Mail Boxes Etc. to Garcher Enterprises Inc., a privately held company owned by former officers, directors and controlling shareholders of the company.
 The transaction was approved by the company's board of directors and by a majority of its stockholders. The effective date of the transaction is expected to be on or about May 8, 1992, after the company has complied with required regulatory filings with the Securities and Exchange Commission and notice requirements to stockholders of the company. Following the consummation of this transaction all of the present officers and directors of the company will resign from such positions.
 The company further announced that following completion of the sale, the company intends to install new management which will attempt to identify business combinations or potential acquisitions which may enhance stockholder value.
 -0- 4/2/92
 /CONTACT: Gary M. Williams, president of Mail Boxes Coast to Coast, 818-956-5400/
 (MBCC) CO: Mail Boxes Coast to Coast ST: California IN: SU:


EH-CH -- LA031 -- 4530 04/02/92 16:10 EST
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Publication:PR Newswire
Date:Apr 2, 1992
Words:211
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