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TELECOM CORPORATION REPORTS EXPIRATION ON SHARES

 DALLAS, March 18 /PRNewswire/ -- TeleCom Corporation (NYSE: TEL) reported that it has been advised by the Trustee of the River View Trust that the option granted to WMG Investments, Inc. to purchase 1,020,619 TeleCom shares held by the Trust, had expired on March 1, 1993 without being exercised. The company was told that subsequent negotiations between the Trustee and Michael Gilley, president of WMG, did not result in the renewal of the option and no agreement exists between the parties. The River View Trust was formerly called the Barbara Gaubert Trust.
 The company had previously reported that it had been notified that an option to acquire the shares held by the Trust (constituting 27.6 percent of the outstanding shares of the company) had been granted to WMG. The purchase price under the option for the shares, including the $250,000 paid to acquire the option, was $3 million or $2.94 per share.
 The company has retained the Dallas-based investment banking firm of Rauscher Pierce Refsnes, Inc. to assist in assessing, developing and implementing financial strategies, including the possibility of a purchase by the company or other parties of the shares held by the Trust.
 TeleCom Corporation has interests in the manufacture of specialized conveying and processing equipment primarily for the food, pharmaceutical and chemical industries and in the wholesale distribution of air conditioning and heating products, as well as souvenir, novelty and gift items.
 -0- 03/18/93
 /CONTACT: Larry T. Marek of TeleCom Corporation, 214-638-0638.
 (TEL)


CO: TeleCom Corporation ST: Texas IN: SU:

AH -- NY037 -- 7455 03/18/93 11:43 EST
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Publication:PR Newswire
Date:Mar 18, 1993
Words:267
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