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MORAN ASSET MANAGEMENT DISAPPOINTED WITH SHAREHOLDER VOTE ON CENTEL/SPRINT MERGER

 GREENWICH, Conn., Dec. 17 /PRNewswire/ -- The following is a statement issued by Moran Asset Management:
 Moran Asset Management said today it is extremely disappointed with the results of the shareholder vote on the Centel (NYSE: CNT) /Sprint (NYSE: FON) merger.
 Centel did multiple mailings and made many phone calls to each shareholder as well as personal visits by management to shareholders all over the country imploring them to vote for the deal and still only won by the slightest of margins.
 Moran is very disturbed by the manner in which Centel's management handled the voting process. While the actions taken by management may not have been illegal, taken together they provided a pattern of behavior that severely impaired the ability of shareholders to exercise their vote fairly and with full and properly presented information.
 Enough votes to reverse the result are considered questionable by MacKenzie Partners, Inc. and Morris, Nichols, Arsht & Tunnell (Moran's representatives at the challenging session held today in Wilmington, Del.) A decision on whether or not to pursue the issue further has not been made.
 CT Corporation, the independent inspectors of elections for the vote, will be issuing a report which will set forth their position on the proxy votes that were challenged by Moran.
 Moran Asset Management, Inc. is an investment advisory firm and its advisory clients own 328,276 Centel shares, .4 percent of the outstanding shares. Moran & Associates, Inc. Securities Brokerage, an affiliate, is a securities brokerage and investment banking firm. Moran Asset management, Inc., Moran & Associates, Inc., and its employees and their families own 1,275 shares.
 -0- 12/17/92
 /CONTACT: Frederick A. Moran of Moran Asset Management, 203-869-5100 or 203-629-5551/
 (CNT FON)


CO: Moran Asset Management, Centel, Sprint ST: Connecticut IN: TLS SU: ECO

LD-TM -- NY122 -- 7991 12/17/92 20:19 EST
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Publication:PR Newswire
Date:Dec 17, 1992
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