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MANHATTAN PARTNERS ACQUIRES CONTEC INTERNATIONAL FROM WESTINGHOUSE CREDIT

 NEW YORK, July 22 /PRNewswire/ -- Manhattan Partners announced today that it has acquired Contec International, a national cable television equipment repair concern, from Westinghouse Credit Corporation. The purchase price was not disclosed.
 Contec is the largest independent and only national cable television equipment repair and reconditioning company in the U.S. It is headquartered in Schenectady, N.Y., where a major cable and reconditioning facility is located. The company also has repair and reconditioning facilities located in Seattle; Tampa, Fla.; Bloomington, Ind.; and West Columbia, S.C. Contec performs repair and reconditioning services on all types of able television equipment from all manufacturers, including converters, amplifiers, and head ends, for many of the major cable operators in the U.S.
 Manhattan Partners is a newly formed limited partnership headquartered in New York City. It was established by former executives of General Instrument Corporation with the purpose of acquiring medium sized companies. When General Instrument, the leading manufacturer of cable television equipment, was acquired by Forstmann Little & Co. in 1990, Mr. Frank G. Hickey, Chairman and Chief Executive Officer, resigned and formed Manhattan Partners. He was joined by Messrs. Rein Narma and Richard Hoffman and Ms. Saundra Whitney, all former executives of General Instrument.
 "We believe the background and experience of the principles of Manhattan Partners will provide a high value added contribution to Contec," Mr. Frank G. Hickey, Chairman and CEO of Manhattan Partners stated. "Our combined years of experience in the cable television industry should assist us in expanding this business. Contec is unique in that it is the largest independent national service provider of its kind. My partners and I look forward to becoming active participants again in the cable television equipment business," Mr. Hickey concluded.
 Contec International will be renamed Contec LP and will report to Mr. Rein Narma, president of Manhattan Partners. Mr. Narma was formerly Group Vice President of Broadband Communications and later Executive Vice President, Corporate Development at General Instrument before joining Manhattan Partners in 1991. Manhattan Partners is currently pursuing other acquisitions in the cable television field.
 -0- 7/22/93
 /CONTACT: Richard Hoffman of Kearney Associates for Manhattan Partners, 212-758-4500/


CO: Manhattan Partners Inc.; Contec International ST: New York IN: ENT SU: TNM

LG-MG -- NY078 -- 4706 07/22/93 15:42 EDT
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Date:Jul 22, 1993
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