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MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST REPORTS YEAR-END RESULTS

 NEW YORK, Jan. 13 /PRNewswire/ -- The Management Assistance Inc. Liquidating Trust reported excess of expenses over income of $229,000 for the 12 months ended Dec. 31, 1993. Net assets were $2,770,000 as of such date. Based on 6,770,020 Units of Beneficial Interest outstanding, the value of the net assets was $0.41 per Unit as compared with $0.44 per Unit on Dec. 31, 1992.
 MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST
 Statements of Net Assets in Liquidation
 Dec. 31, 1993 and 1992
 (thousands of dollars)
 1993 1992
 Assets:
 Cash and cash equivalents $2,681 $2,911
 Tax refund receivables 148 148
 Annuities 3,357 3,357
 6,186 6,416
 Liabilities:
 Pension liabilities 3,357 3,357
 Accrued liabilities 59 60
 3,416 3,417
 Net assets $2,770 $2,999
 Statements of Income and Expenses
 For the years ended Dec. 31, 1993, 1992 and 1991
 (thousands of dollars)
 1993 1992 1991
 Income:
 Interest income $ 87 $ 183 $ 378
 Income applicable to
 Management Assistance Inc. --- --- ---
 87 183 378
 Expenses:
 General and
 administrative expenses 303 321 331
 Expenses applicable to
 Management Assistance Inc. 13 28 48
 316 349 379
 (Shortage) of income over
 expenses allocable to
 Beneficiaries $ (229) $ (166) $ (1)
 Statements of Changes in Net Assets in Liquidation
 For the years ended Dec. 31, 1993, 1992 and 1991
 (thousands of dollars, except per Unit data)
 1993 1992 1991
 Net assets at beginning
 of year (per Unit: 1993,
 $.44; 1992, $.90; 1991,
 $.90) $ 2,999 $ 6,076 $ 6,077
 (Shortage) of income over
 expenses allocable to
 Beneficiaries (per Unit:
 1993, $.03; 1992, $.02;
 1991, $.0) (229) (166) (1)
 2,770 5,910 6,076
 Liquidating distributions
 (per Unit: 1992, $.43) --- 2,911 ---
 Net assets at end of year
 (per Unit: 1993, $.41;
 1992, $.44; 1991, $.90) $ 2,770 $ 2,999 $ 6,076
 There were 6,770,020 Units of Beneficial Interest outstanding at the beginning of each year.
 Statements of Cash Flows
 For the years ended Dec. 31, 1993, 1992 and 1991
 Increase (Decrease) in Cash and Cash Equivalents
 (thousands of dollars)
 1993 1992 1991
 Cash flows from operating
 activities:
 (Shortage) of income over
 expenses applicable to
 Beneficiaries $ (229) $ (166) $ (1)
 Adjustment to reconcile
 (shortage) excess of income
 over expenses applicable to
 Beneficiaries to net cash
 provided by (used in)
 operating activities: Reduction
 of accrued liabilities (1) (1) (1)
 Net cash (used in) provided
 by operating activities (230) (167) (2)
 Cash flows from financing
 activities-Liquidating
 distributions paid --- (2,911) ---
 Net (decrease) increase in
 cash and
 cash equivalents (230) (3,078) (2)
 Cash and cash equivalents
 at beginning of year 2,911 5,989 5,991
 Cash and cash equivalents
 at end of year $ 2,681 $ 2,911 $ 5,989
 -0- 1/13/94
 /CONTACT: Daniel R. Kail, managing trustee of Management Assistance Inc. Liquidating Trust, 212-826-3666/


CO: Management Assistance Inc. Liquidating Trust ST: New York IN: FIN SU: ERN

JG-PS -- NY075 -- 1826 01/13/94 15:25 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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