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TELECOM REACHES TENTATIVE AGREEMENT TO SELL COMFORT SUPPLY SUBSIDIARY

 DALLAS, April 21 /PRNewswire/ -- TeleCom Corporation (NYSE: TEL), said today it has signed a letter of intent to sell its Comfort Supply, Inc. subsidiary to Watsco, Inc. Terms of the proposed sale were not disclosed.
 Lawrence W. Schumann, chairman of TeleCom, said the sale is expected to take place within the next few weeks and is subject to negotiation and execution of a definitive agreement as well as due diligence by the buyer.
 Comfort Supply is a Houston-based exclusive distributor of Rheem(R) air conditioning and heating equipment for a substantial portion of Texas and parts of Louisiana and Mexico. It contributed $36.6 million of TeleCom's $64 million in revenues in 1992, a year in which the parent company reported strong improvement.
 Lawrence Schumann said TeleCom has been evaluating both internally and with its investment banker, Rauscher Pierce Refsnes, Inc. how best to maximize long-term shareholder value. The decision to sell Comfort Supply at this time, he said, is a positive move for the company because it will allow management to focus on the further growth and development of its other businesses, which have higher margins and serve national and international markets.
 TeleCom's other businesses are the MEYER Group, a manufacturer of specialized conveying and processing equipment for the food, pharmaceutical and chemical industries in the United Sates and abroad; and Allen-Lewis Manufacturing Company, an importer of souvenir, novelty and gift items and a principal supplier to theme, national and state parks.
 Watsco (AMEX: WSOA, WSOB) based in Coconut Grove, Fla., is the national's largest independent distributor of residential central air conditioners and related parts and supplies.
 -0- 4/21/93
 /CONTACT: Larry T. Marek of TeleCom Corporation, 214-638-0638/
 (TEL)


CO: TeleCom Corporation; Comfort Supply, Inc.; Watsco, Inc. ST: Texas IN: SU: TNM

SH -- NY041 -- 8624 04/21/93 10:30 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
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