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NORTH AMERICAN VENTURES, INC. ANNOUNCES INCREASED BANK FACILITIES

 NORTH AMERICAN VENTURES, INC. ANNOUNCES INCREASED BANK FACILITIES
 MONTVALE, N.J., March 31 /PRNewswire/ -- North American Ventures, Inc. (NASDAQ: NAVI) announced today that its wholly owned subsidiary, Butler Service Group, Inc. ("Butler"), has accepted a commitment from The Bank of New York Commercial Corporation ("BNYCC"), for a $30 million three year secured revolving credit facility, subject to certain terms and conditions. BNYCC, a wholly-owned subsidiary of The Bank of New York (NYSE: BK), will provide $25 million of the facility. This facility will refinance Butler's existing $18.7 million senior secured line and provide working capital to its domestic and Canadian operations. Butler expects to close this transaction within 60 days.
 Commenting on the refinancing commitment, Edward M. Kopko, the company's chairman, stated, "This new bank facility will further strengthen Butler for the expected economic upturn and will provide additional resources to allow the company to expand."
 Butler is a leading domestic and international contract technical services company and telecommuniations services company. It is principally engaged in the location, recruitment and hiring of a wide variety of skilled engineers and technical personnel to provide service, on a temporary or project basis, to industrial corporations and other organizations throughout the U.S. and abroad.
 -0- 3/31/92
 /CONTACT: Cathy D. Shea of North American Ventures, 201-573-8000/
 (NAVI) CO: North American Ventures, Inc.; The Bank of New York ST: New Jersey IN: TCS SU:


SH -- NE008 -- 3400 03/31/92 12:03 EST
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Publication:PR Newswire
Date:Mar 31, 1992
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