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TELECOM CORPORATION MAKES ANNOUNCEMENT

 DALLAS, May 28 /PRNewswire/ -- TeleCom Corporation (NYSE: TEL), announced today that it and a group of officers and directors, including a limited partnership controlled by the chairman, have purchased the 1,020,619 shares of TeleCom Corporation common stock previously held by the River View Trust. TeleCom had previously announced that it has been working with its investment banker, Rauscher Pierce Refsnes, Inc., on assessing and developing financial strategies aimed at increasing shareholder value, including ongoing negotiations with the Trust for the possible purchase of the shares.
 Lawrence W. Schumann, chairman and chief executive officer, said the company had purchased 867,619 of the shares and the remaining 153,000 shares were purchased by himself and a limited partnership controlled by him; Larry T. Marek, executive vice president of TeleCom; and William E. Callahan, a director of the company. All shares were purchased at a price of $2.94 per share.
 The Trust previously had indicated an interest in liquidating its holdings of TeleCom Corporation common stock. The purchase price of $2.94 per share represents a 17 percent discount to book value as of March 31, 1993, and the pro forma book value per share as of that date will increase from $3.55 to $3.74. Further, as a result of the repurchase, each shareholders' interest in the company has increased 23 percent. Schumann said, "I hope TeleCom's shareholders will view the officers' and directors' purchase of these shares as a demonstration of their commitment to TeleCom and its future."
 TeleCom Corporation, through its subsidiaries, designs and manufactures a proprietary line of specialized conveying and processing equipment for the food, pharmaceutical and chemical industries (the MEYER Group); and designs and markets an extensive line of souvenir, novelty and gift items to souvenir, novelty and gift shops, as well as to theme, national and state parks (Allen-Lewis Manufacturing Company).
 -0- 5/28/93
 /CONTACT: Larry T. Marek of TeleCom Corporation, 214-638-0638/
 (TEL)


CO: TeleCom Corporation ST: Texas IN: TLS SU:

TM -- NY050 -- 3493 05/28/93 16:07 EDT
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Publication:PR Newswire
Date:May 28, 1993
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