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TFC ENTERPRISES, INC. ANNOUNCES PUBLIC OFFERING OF STOCK

 NORFOLK, Va., Oct. 25 /PRNewswire/ -- TFC Enterprises, Inc. has filed a registration statement with the Securities and Exchange Commission for an initial public offering of 4,500,000 shares of common stock, of which 4,150,000 will be offered by the company and 350,000 will be offered by the existing stockholder.
 The offering will be managed by Wheat First Butcher & Singer Capital Markets. The company plans to grant the underwriters an option for 30 days to purchase up to an additional 15 percent (or 675,000 shares) solely to cover overallotments.
 The preliminary prospectus may be obtained from the company. TFC Enterprises, Inc., is the holding company for THE Finance Company (TFC). THE Finance Company primarily purchases and services installment sales contracts originated by dealers in the sale of used automobiles, vans, light trucks and motorcycles. The primary focus is on installment sales contracts originated by dealers who sell to consumers who have limited access to traditional sources of consumer credit.
 The registration statement relating to the common stock has been filed with the Securities and Exchange Commission, but has not yet become effective. The common stock may not be sold, nor may orders to buy be accepted, prior to the time the registration statement becomes effective.
 This news release shall not constitute either an offer to sell nor a solicitation of an offer to buy. No common stock may be sold in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of that state.
 -0- 10/25/93
 /CONTACT: George R. Kouri of TFC Enterprises, 804-466-1222/


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

MM -- CH010 -- 6348 10/25/93 12:57 EDT
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Publication:PR Newswire
Date:Oct 25, 1993
Words:291
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