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THE TURNER CORPORATION RENEWS AND INCREASES REVOLVING CREDIT AGREEMENT TO $40 MILLION

 NEW YORK, Jan. 11 /PRNewswire/ -- The Turner Corporation (AMEX: TUR), the nation's leading general builder, today announced an agreement for a three-year, $40 million revolving credit facility with a bank group led by Morgan Guaranty Trust Company as agent. The new agreement, effective Dec. 30, 1992, renews and increases a previous revolving credit facility for $32.5 million with the same bank group that was scheduled to expire in July 1993. In addition to Morgan Guaranty Trust Company, participating banks include Bank of New York, Chemical Bank and Harris Trust and Savings Bank.
 Alfred T. McNeill, Turner's chairman, commented, "Considering the continuing difficult credit environment, we consider the closing of this agreement a significant accomplishment. It provides the company with increased liquidity in what we anticipate will be a significant growth period for Turner."
 Based in New York City, The Turner Corporation, through Turner Construction Company and other construction subsidiaries, is the nation's largest builder of commercial, industrial, hospital and healthcare, institutional, retail, biotech/pharmaceutical, government building and multi-unit housing projects. Operating through more than 35 offices. Turner has construction projects underway throughout the United States and abroad. During 1991, the Turner Corporation completed $2.7 billion of construction.
 -0- 1/11/93
 /CONTACT: Don Sleeman of Turner Corporation, 212-229-6143/
 (TUR)


CO: The Turner Corporation ST: New York IN: CST SU: FNC

LR-OS -- NY022 -- 3439 01/11/93 10:02 EST
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Publication:PR Newswire
Date:Jan 11, 1993
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