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ROBERT J. AMMAN ELECTED PRESIDENT OF NEW VALLEY CORPORATION

 UPPER SADDLE RIVER, N.J., April 22 /PRNewswire/ -- Robert J. Amman has re-assumed the position of president of New Valley Corporation (NYSE: NVL). In that capacity, he succeeds James F. Calvano, who has left the company to pursue other interests.
 Mr. Amman, who continues as chief executive officer, had served as president of New Valley from January 1988 to June 1991, when Mr. Calvano was elected president and chief operating officer. Since then Mr. Amman has served as vice chairman of the board, focusing on the financial restructuring of New Valley while also undertaking other management assignments within the family of companies controlled by Brooke Group, Ltd., a Miami-based holding company. He will now devote full time to managing the business of New Valley.
 New Valley Corporation conducts its principal operations through its wholly owned subsidiary, Western Union Financial Services, Inc. (FSI). The North American unit of FSI provides Western Union Money Transfer, bill-payment and other financial services to consumers and businesses in the United States. It also provides money transfer service in Canada and between the U.S. and Canada and Mexico. The international unit of FSI provides Western Union Money Transfer service in countries outside of North America. A separate unit of FSI, Western Union Direct, was established at the end of 1992 initially to offer a secured MasterCard(R) credit card. In addition, the company provides Western Union Mailgram(R) and other messaging services to high-volume users through its Western Union Priority Services unit.
 -0- 4/22/93
 /CONTACT: Warren Bechtel, 201-818-5790, or 212-868-8888/
 (NVL)


CO: New Valley Corporation ST: New Jersey IN: SU: PER

TS -- NY114 -- 9633 04/22/93 15:21 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:277
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