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PENTZER CORP. ACQUIRES IMFAX

 SEATTLE, July 6 /PRNewswire/ -- Pentzer Corp. announced today the purchase of Imfax, one of the Pacific Northwest's leading consumer credit reporting businesses. The purchase price was not disclosed.
 Imfax, based in Bellevue, Wash., provides information services to banks, mortgage companies, financial institutions, insurance companies and other businesses that require credit information and related business information. The company also has offices in Portland, Ore., Spokane and Boise, Idaho. It employs approximately 100 people.
 Pentzer Corp. President and CEO Richard A. Davis said customers will notice very few changes as a result of the acquisition. Jack Milne, one of the two previous owners of the company has agreed to stay on as chairman of the board, and Senior Vice President Glenn Evans will move into the president's position. No other personnel changes are contemplated as a result of the sale.
 "Imfax is a company that works. We didn't buy it to make wholesale changes," Davis said. "Rather, our purchase will provide Imfax additional financial strength to grow and to continue its outstanding record of customer service."
 Milne and Evans agree that the acquisition by Pentzer will have a positive effect on Imfax.
 "Having Pentzer as a parent company makes great sense for Imfax," Milne said. "They have financial capacity but they are not a financial institution or financial services company that could create conflicts for Imfax and its customers. Most importantly, Pentzer knows and is committed to the Pacific Northwest, just as we have been."
 Evans said the strong regional focus of Imfax allows it to provide customers with far more personal service than competitors whose focus is national.
 Imfax uses credit information from national repositories and compiles the data into a single document. For mortgages, the company then follows up with personal interviews to ensure its reports are complete, accurate and contain the very latest information. In addition to credit reports, Imfax provides pre-employment investigations and other business information services.
 "Our goal is to make certain our information is both accurate and timely. Our customers count on us for reports based on an applicant's financial status today, not last month or last year," Evans said.
 Pentzer, based in Spokane, is a private investment firm owned by The Washington Water Power Co. In the financial services field, Pentzer also owns Systran, a Portland company that factors freight bills for independent truckers. It also has holdings in telecommunications, natural gas transportation, real estate, electronics and energy co- generation. All Pentzer holdings are run as independent entities.
 -0- 7/6/93
 /CONTACT: Glenn Evans of Imfax, 206-646-7000; or Dick Davis of Pentzer, 509-459-1350/


CO: Pentzer Corp.; Imfax ST: Washington IN: SU: TMN

JH-SB -- SE005 -- 8742 07/06/93 15:45 EDT
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Date:Jul 6, 1993
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