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TEXSCAN ANNOUNCES RESULTS OF SPECIAL STOCKHOLDER MEETING

 EL PASO, Texas, April 26 /PRNewswire/ -- At the special stockholder meeting held on April 23, 1993, Texscan Corporation's (AMEX: TSX) stockholders approved the Agreement and Plan of Merger to create a holding company structure. In the merger, Texscan will become the wholly-owned subsidiary of TSX Corporation, a new holding company formed under the laws of the State of Nevada ("TSX"), and the stockholders of Texscan will become stockholders of TSX. In addition, each outstanding share of Texscan's common stock will be converted into one share of TSX common stock, and Texscan stockholders will be entitled to receive one TSX warrant, representing the right to purchase one or two shares of TSX common stock for each share of Texscan common stock they own.
 The merger will be effected at the close of business on April 28, 1993, and Texscan stockholders of record as of the close of business on April 28, 1993 will become stockholders of TSX. Effective April 29, 1993, TSX common stock will be listed for trading on the American Stock Exchange under the symbol "TSX", and through April 30, 1993, TSX common stock will trade with "Warrants on." TSX warrants will be issued to Texscan stockholders of record at the close of business on April 28, 1993, and mailed on April 30, 1993. Effective May 3, 1993, TSX common stock and warrants will trade separately, whereby, TSX common stock will be listed on both the American Stock Exchange and the Boston Stock Exchange under the symbol "TSX," and the warrants will be listed for trading only on the Boston Stock Exchange under the symbol "TSXW."
 Headquartered in El Paso, Texas, Texscan Corporation is a leading manufacturer of electronic advertising insertion equipment, CATV distribution electronics and is a large-scale, fiber optic systems integrator for road, subway and railway applications.
 -0- 4/26/93
 /CONTACT: Harold C. Tamburro of Texscan Corporation, 915-594-3555, or Ed Kearney of Kearney Associates, Inc., 215-579-9029, for Texscan Corporation/
 (TSX)


CO: Texscan Corporation ST: Texas IN: SU:

LD-TM -- NY130 -- 1048 04/26/93 18:48 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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