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REGIONAL ACCEPTANCE CORPORATION FILES REGISTRATION STATEMENT FOR INITIAL PUBLIC OFFERING OF COMMON STOCK

 GREENVILLE, N.C., April 16 /PRNewswire/ -- Regional Acceptance Corporation, a consumer finance company based in Greenville, N.C., announced that it has filed with the Securities and Exchange Commission a registration statement relating to a proposed initial public offering of 2,000,000 shares of its common stock. Interstate/Johnson Lane Corporation and Morgan Keegan & Company, Inc., will serve as the managing underwriters of the offering. The registration statement also covers an additional 300,000 shares subject to an over-allotment option.
 Regional is engaged primarily in financing consumer purchases of late model used automobiles and other used motor vehicles, and in making other loans to consumers who typically have limited access to other sources of consumer credit.
 A registration statement relating to the common stock has been filed with the Securities and Exchange Commission, but has not yet become effective. Shares of the common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of the common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 A prospectus relating to the common stock can be obtained from Interstate/Johnson Lane Corporation, 945 East Paces Ferry Road, Atlanta, Ga. 30326.
 -0- 4/16/93
 /CONTACT: Robert D. Barry of Regional Acceptance Corporation, 919-756-2148/


CO: Regional Acceptance Corporation ST: North Carolina IN: AUT SU: OFR

CM -- CH005 -- 6718 04/16/93 11:32 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
Words:274
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