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PENTZER ANNOUNCES AGREEMENT WITH SYSTRAN FINANCIAL SERVICES

 SPOKANE, Wash., Dec. 28 /PRNewswire/ -- Pentzer Corp. announced today that it has entered into an agreement to acquire Systran Financial Services Corp., a leading financial-services provider to the trucking industry. This transaction will close in early January upon completion of financing agreements.
 Systran chief executive officer, Edward A. Foehl, joined with newly formed Pentzer Financial Services Corp. to acquire the company, which last year purchased $225 million in freight bills and served 125 trucking companies throughout the United States. Systran's customers range from one- and two-truck operations to large carriers. Purchasing freight bills is one of the financial-management services Systran provides its customers.
 "Systran provides outstanding service to the trucking industry. It allows truckers to focus on their business and not on collecting bills, filing reports and financial management. We think they will be an excellent fit in the Pentzer family of companies," Pentzer President Richard Davis said.
 Systran, with 55 employees, is headquartered in Portland, Ore., and has an office in Charlotte, N.C. The company has a strong, focused sales and marketing organization and excellent management. Davis said a key to the acquisition decision was the assurance that top management would remain with the company.
 Pentzer will be pursuing other strategic investments in the financial-services industry in the future, according to Davis.
 Systran marks the second significant acquisition for the growing Pentzer Corp. in 1992. Earlier this year, the company, in partnership with Jefferson Gas Systems Inc., acquired Sunrise Energy Services Inc., a nationwide natural gas marketing service company.
 Spokane-based Pentzer Corp. is the holding company for The Washington Water Power Company's (NYSE: WWP) non-utility businesses. Pentzer's other investments include holdings in the energy, telecommunications, electronics and real estate industries.
 -0- 12/28/92
 /CONTACT: Richard Davis of Pentzer Corp., 509-459-1350/
 (WWP)


CO: The Washington Water Power Company; Pentzer Corp.; Systran
 Financial Services Corp. ST: Washington, Oregon IN: TRN SU: TNM


LM-BB -- SE002 -- 0099 12/28/92 14:01 EST
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Publication:PR Newswire
Date:Dec 28, 1992
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