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MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST REPORTS YEAR-END RESULTS

 MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST REPORTS YEAR-END RESULTS
 NEW YORK, Jan. 30 /PRNewswire/ -- The Management Assistance Inc. Liquidating Trust today reported excess of expenses over income of $1,000 for the 12 months ended Dec. 31, 1991. Net assets were $6,076,000 as of such date. Based on 6,770,020 units of beneficial interest outstanding, the value of the net assets was $0.90 per unit which is unchanged from Dec. 31, 1990. The Liquidating Trust paid a liquidating distribution of $0.43 per unit on Jan. 9, 1992.
 MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST
 Statements of Net Assets in Liquidation
 (In thousands of dollars)
 Year ended Dec. 31: 1991 1990
 Assets:
 Cash and cash equivalents $5,989 $5,991
 Tax refund receivables 148 148
 Annuities 3,357 3,357
 Total 9,494 9,496
 Liabilities:
 Pension liabilities 3,357 3,357
 Accrued liabilities 61 62
 Total 3,418 3,419
 Total $6,076 $6,077
 Statements of Income and Expenses
 (Thousands of Dollars)
 Three years ended Dec. 31: 1991 1990 1989
 Income:
 Interest income $378 $484 $558
 Income applicable to Management
 Assistance Inc. -- 2 8
 Other income -- -- 55
 Total $378 $486 621
 Expenses:
 General and administrative
 expenses 331 348 331
 Expenses applicable to Management
 Assistance Inc. 48 1 19
 Total 379 349 350
 (Shortage) excess of income
 over expenses allocable
 to beneficiaries $(1) $137 $271
 Statements of Changes in Net Assets in Liquidation
 (Thousands of dollars except per unit data)
 Years ended Dec. 31 1991 1990 1989
 Net assets at beginning
 of year $6,077 $5,940 $7,362
 Net assets per unit $.90 $.88 $1.09
 (Shortage) excess of income
 over expenses allocable to
 beneficiaries (1) 137 271
 Per unit -- $.02 $.04
 Total 6,076 6,077 7,633
 Liquidating distribution -- -- 1,693
 Per unit -- -- $.25
 Net assets at end of year 6,076 6,077 5,940
 Per unit $.90 $.90 $.88
 There were 6,770,020 units of beneficial interest outstanding at the beginning and end of each year.
 Statements of Cash Flows
 (Thousands of Dollars)
 Years ended Dec. 31: 1991 1990 1989
 Cash flow from
 operating activities:
 (Shortage) excess of income
 over expenses applicable
 to beneficiaries $(1) $137 $271
 Adjustments to reconcile (shortage)
 excess of income over expenses
 applicable to beneficiaries to net
 cash provided by (used in)
 operating activities:
 Reduction of other assets -- -- 1
 Reduction of accr. liabilities (1) (5) (5)
 Total adjustments (1) (5) (4)
 Net cash provided by (used in)
 operating activities (2) 132 267
 Cash flows from financing activities -
 Liquidating distributions paid -- -- (1,693)
 Net increase (decrease) in cash and
 cash equivalents (2) 132 (1,426)
 Cash and cash equivalent
 at beginning of year 5,991 5,859 7,285
 Cash and cash equivalent
 at end of year $5,989 $5,911 $5,859
 -0- 1/30/92
 /CONTACT: Daniel R. Kail of Management Assistance, 212-826-3666/ CO: Management Assistance Inc. Liquidating Trust ST: New York IN: FIN SU: ERN


TS-SM -- NY049 -- 5232 01/30/92 12:14 EST
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Publication:PR Newswire
Date:Jan 30, 1992
Words:498
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