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STANDARD COMMERCIAL TO ACQUIRE W.A. ADAMS COMPANY

 STANDARD COMMERCIAL TO ACQUIRE W.A. ADAMS COMPANY
 WILSON, N.C., March 18 /PRNewswire/ -- Standard Commercial


Corporation (NYSE: STW) and W.A. Adams Company Inc. of Oxford, North Carolina are pleased to announce that agreement has been reached, subject to contract and certain regulatory approvals, in terms of which Standard will acquire all of the issued and outstanding stock of Adams. The effective date of this agreement will be June 1, 1992.
 The name of Adams will be unchanged and Tom M. Evins, Jr., will remain as President and Chief Executive Officer. Adams will retain its existing management structure, and will continue to provide a full range of leaf tobacco dealer services to all of their customers from its plant in Oxford. Adams will retain its buying, processing and selling organizations which will operate unchanged.
 Adams, in the future, will operate as a separate subsidiary of Standard, but will be able to rely upon the greater financial resources of Standard for its growth and development as a principal domestic and international leaf tobacco dealer.
 Standard and Adams firmly believe that the acquisition of Adams is in the best interests of their respective customers, employees and shareholders. This combination offers the best assurance to the customers of Adams of a worldwide supply of tobacco and quality service, as Adams will, in the future, be able to rely upon Standard's worldwide presence. In addition, Adams' offshore operations in Thailand and Central and South America will add further sources of supply to the range of tobacco available for offer to Standard's customers in the future.
 Standard Commercial is one of the world's largest leaf dealers with annual tobacco revenues of approximately $850 million and is also among the top international wool trading companies. Adams is a leading leaf tobacco dealer with annual revenues exceeding $100 million.
 -0- 3/18/92
 /CONTACT: Guy M. Ross, Standard Commercial Corporation, 919-291-5507/
 (STW) CO: Standard Commercial Corporation; W.A. Adams Company Inc. ST: North Carolina IN: TOB SU: TNM


JM -- CH004 -- 9107 03/18/92 09:40 EST
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Publication:PR Newswire
Date:Mar 18, 1992
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