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REGIONAL ACCEPTANCE CORPORATION ANNOUNCES MERGER OF AFFILIATED COMPANIES

 GREENVILLE, N.C., July 8 /PRNewswire/ -- Regional Acceptance Corporation (NASDAQ-NMS: REGA) announced that it has completed the previously announced merger of its affiliated companies into Regional. The affiliates are Universal Acceptance Corporation, Garner and Washington, N.C.; Cape Fear Financial Services, Wilmington, N.C.; Roanoke Financial Services, Roanoke Rapids, N.C., and Pioneer Financial Services, Elizabeth City, N.C.
 President Bill Stallings stated that the merger occurred in conjunction with Regional's recently completed initial public offering of common stock. Stallings stated that only the names were changed to Regional and that management and staff in each affiliate will continue to operate their office as a branch of Regional.
 Regional Acceptance Corporation is engaged primarily in financing consumer purchases of late model used automobiles and other used motor vehicles and other consumer loans. The company operates 13 branch offices from Raleigh to the coast of North Carolina.
 -0- 7/8/93
 /CONTACT: Robert D. Barry, Chief Financial Officer, Regional Acceptance Corporation, 919-756-2148/
 (REGA)


CO: Regional Acceptance Corporation ST: North Carolina IN: FIN SU: TNM

CM -- CH009 -- 9563 07/08/93 14:02 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
Words:182
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