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TFC ENTERPRISES, INC. ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING

 NORFOLK, Va., Jan. 6 /PRNewswire/ -- TFC Enterprises, Inc. (NASDAQ: TFCE) today announced the successful completion of its initial public offering at $11.50 per share on Dec. 22, 1993.
 In the 4,500,000 share offering, TFC Enterprises, Inc. sold 4,150,000 shares of common stock and the company's prior sole stockholder, RSR Associates, sold 350,000 shares of common stock.
 TFC Enterprises, Inc. common stock trades on the Nasdaq National Market under the symbol TFCE. Wheat First Butcher & Singer served as managing underwriter for the offering.
 TFC Enterprises, Inc. is the parent company for THE Finance Company. Since its inception in 1977, THE Finance Company has been engaged in purchasing and servicing installment sales contracts originated by automobile dealers. TFC Enterprises operates from three regional service centers in Norfolk, Va., Jacksonville, Fla., and Dallas. The company has 284 employees.
 -0- 1/6/94
 /CONTACT: George R. Kouri of TFC Enterprises, 804-466-1222/
 (TFCE)


CO: TFC Enterprises, Inc. ST: Virginia IN: FIN SU: OFR

MM -- CH009 -- 9779 01/06/94 12:59 EST
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Publication:PR Newswire
Date:Jan 6, 1994
Words:173
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